Market Overview

JMP Sees Salesforce Posting 'Blow-Out' Q4 Results

Share:
Related CRM
Benzinga's Option Alert Recap From July 26
5 Toxic Stocks To Abandon Or Play Short For Profit
Personal Capital Advisors Corp Buys iShares Russell —………, Schwab U.S. ... (GuruFocus)

In a report published Thursday, JMP Securities analyst Patrick Walravens raised Salesforce.com (NYSE: CRM) fourth quarter billings growth estimate from 30% to 34%, expecting a "blow-out" fourth quarter.

Walravens commented that his checks suggest that Salesforce.com won a deal with a Fortune 100 transportation company which may be worth over $80 million over six years. The analyst noted that it had been approximately two years since the company has made a deal of this size. JMP added that Salesforce.com closed two to three deals over $10 million each and potentially a third.

The analyst reported that this deal suggest a strong fourth quarter and is a positive indicator for long-term investment.

According to Bloomberg data, Salesforce.com has 38 Buy rating, 3 Holds, and 4 Sells with an average $62.00 price target.

Shares of Salesforce.com closed at $61.63 on Wednesday.

Latest Ratings for CRM

DateFirmActionFromTo
Jun 2017SunTrust Robinson HumphreyInitiates Coverage OnBuy
Apr 2017BenchmarkInitiates Coverage OnOutperform
Apr 2017Credit SuisseInitiates Coverage OnOutperform

View More Analyst Ratings for CRM
View the Latest Analyst Ratings

Posted-In: JMP Securities Patrick WalravensAnalyst Color Earnings Analyst Ratings

 

Related Articles (CRM)

View Comments and Join the Discussion!