Market Overview

UPDATE: Bank of America Reiterates on salesforce.com on Multiple Positive Levers Going Forward

Share:
Related CRM
If Bitcoin Were A Stock, It Would Be Valued Similar To Netflix
Meet SpringBig, A Leader In Marijuana Marketing That's Getting Dispensaries Into Users' Smartphones
Fed May Warn, 5 Top-Rated Stocks To Report: Investing Action Plan (Investor's Business Daily)

In a report published Thursday, Bank of America analyst Kash Rangan reiterated a Buy rating on salesforce.com (NYSE: CRM), and raised the price target from $64.00 to $68.00.

In the report, Bank of America noted, “We see multiple positive levers going forward: 1) lower attrition as enterprise ramps; 2) broader distribution whereby 50% of Global 500 that are not customers can be targeted; 3) broadening TAM (total addressable market) into ecommerce, platform, analytics and HCM; 4) continued growth of ISV ecosystem which has quadrupled to900 in 2 years; 5) verticalization of the salesforce to get deeper penetration. Our proprietary analysis suggests CRM could sustain high growth (30%+ CAGR) for four to five years, with strength in marketing and platform. Our $68 PO is based on 8.6x EV/Recurring revs and 8.2mn subs exiting 1Q:FY16.”

salesforce.com closed on Wednesday at $63.02.

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: Bank of America Kash RanganAnalyst Color Price Target Analyst Ratings

 

Related Articles (CRM)

View Comments and Join the Discussion!