Deutsche Bank Reiterates Buy Rating on Salesforce.com (CRM)

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Deutsche Bank is out with a research report this morning, where their analysts reiterated their price target on shares of Salesforce.com
CRM
; they have a $120.00 price target on the stock. DB analysts said, “Today we attended CloudForce 2010, which had 2-3k attendees with heavy partner participation (originally planned for 500). Chatter’s public release was announced in a keynote address by CEO Marc Benioff. In our opinion, Chatter has the potential to drive higher attach rates, with the advent of social networking site-like capability into the enterprise. CRM’s visionary status, driven by speed of innovation resultant from a disciplined adherence to the SaaS architecture, gives us further confidence in continued business momentum.” They also noted, “Chatter is available immediately to all current customers, and Force.com developers, free of charge. The application is also offered as a separate subscription for $15/user/month, for non-customers. In our conversations, the company seems flexible in Chatter pricing, with the goal of signing enterprise-wide licensing agreements. 6,000 customers have already enabled Chatter.” “Features such as Chatter Groups, native apps for iPad and iPhone (coming soon to the Android) and Twitter integration were also demonstrated live. Showcasing the company’s latest acquisition, Chatter seamlessly integrates with Jigsaw to alert users whenever there is updated information for a contact, giving them the ability to select, “scrub” and import any of the available information. 60 apps are available on ChatterExchange, with 35 of them already live.” Learn how to find the best
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Posted In: Analyst ColorPrice TargetAnalyst RatingsDeutsche Bank
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