Market Overview

Salesforce The 'Most Attractive Stock' In Its Universe, Says Piper Jaffray

Related CRM
Insider Buys Of The Week: JPMorgan, Salesforce, Signet And More
18 Internet Stocks And What To Do With Them
Weekly Top Insider Buys Highlight for the Week of April —… (GuruFocus)

Shares of, inc. (NYSE: CRM) hit a new all-time high of $88.04 Friday morning, partly in reaction to an encouraging sell-side report.

Piper Jaffray's Alex Zukin maintained an Overweight rating on Salesforce's stock with an unchanged $100 price target, and labeled the company as the "most attractive stock" in its universe.

Salesforce is scheduled to report its first-quarter earnings report on May 18 and the analyst's checks point to a "very solid quarter" on the enterprise and commercial segment.

Zukin said that within the enterprise segment, he has "heard of sizable transactions" within the financial services, technology, telecommunication, and CPG spaces. By region the analyst also "heard of strength" in various domestic regions including the west and east cost, and central for commercial.

The analyst also noted that from a product perspective, Service Cloud "continues to lead the pack" as the company is working to increase its penetration with Sales Cloud customers.

The Big Picture

Zukin noted his overall feeling is one of strength. Specifically, a "healthier" macro environment, coupled with "better and broader" strategic messaging from the company is yielding sustainable momentum.

Also, the sales morale at Salesforce remains "very strong" with no unusual levels of attrition detected despite bigger than usual sales realignment. As such, the company appears to be "firing on all cylinders."

"These sentiments are reflected in our thinking about pipeline health and we continue to believe that the company remains well positioned for the year," Zukin concluded.

See Also:

This One Word Is Used By Nearly Every Tech Company To Describe The Job Market

Rumor Mill Alive And Well In Salesforce

Latest Ratings for CRM

Apr 2018Monness Crespi HardtInitiates Coverage OnBuy
Mar 2018BarclaysMaintainsOverweightOverweight
Mar 2018Morgan StanleyMaintainsOverweightOverweight

View More Analyst Ratings for CRM
View the Latest Analyst Ratings

Posted-In: Alex Zukin cloud Piper Jaffray SalesforceAnalyst Color Previews Analyst Ratings Trading Ideas


Related Articles (CRM)

View Comments and Join the Discussion!