Salesforce.com Receives Buy Rating from Deutsche Bank (CRM)
Salesforce.com (NYSE: CRM)‘s stock had its “buy” rating reiterated by equities research analysts at Deutsche Bank in a research note issued to investors on Tuesday. They currently have a $230.00 price target on the stock.
A number of other analysts have also recently weighed in on CRM. Analysts at TheStreet reiterated a “hold” rating on shares of Salesforce.com in a research note to investors on Tuesday. Separately, analysts at Wedbush raised their price target on shares of Salesforce.com from $195.00 to $206.00 in a research note to investors on Monday. They now have an “outperform” rating on the stock. Finally, analysts at Raymond James raised their price target on shares of Salesforce.com from $200.00 to $210.00 in a research note to investors on Monday.
Thirty-four equities research analysts have rated the stock with a buy rating, two have issued an overweight rating, three have issued a hold rating, two have given an underweight rating, and three have assigned a sell rating to the company. Salesforce.com presently has an average rating of “overweight” and an average price target of $194.39.
Salesforce.com traded down 0.25% on Tuesday, hitting $185.43. Salesforce.com has a 52-week low of $120.18 and a 52-week high of $186.63. The stock’s 50-day moving average is currently $172.1. The company’s market cap is $26.882 billion.
Salesforce.com last announced its earnings results on Thursday, February 28th. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.40 by $0.11. The company had revenue of $835.00 million for the quarter, compared to the consensus estimate of $830.85 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. Salesforce.com has set its Q1 guidance at $0.40-0.42 EPS and its FY14 guidance at $1.93-1.97 EPS. On average, analysts predict that Salesforce.com will post $1.97 earnings per share for the current fiscal year.
Salesforce.com, inc. is a provider of enterprise cloud computing and social enterprise solutions. The Company provides a customer and collaboration relationship management (CRM), applications through the Internet or cloud.
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Interestingly, most of the upside reflects the opportunity to address the opportunity of accelerating digital marketing spend.
CRM will have a compelling offering, but probably need to acquire more product to have a complete platform, given that they do not have a leading anchor in the markepting column. It’s an increasingly clear battle between Salesforce’s “Customer Company” vision (anchored by SFA and CRM), Oracle’s “Customer Experience” vision (anchored by RightNow and Eloqua), and Adobe’s Marketing Cloud (anchored by Omniture web analytics and Day web platform). (Disclosure, Adobe was my old job.)
But there’s still so much opportunity in Salesforce’s core markets that it’s easy to build a very strong case for continued momentum. Mobile is a huge opportunity for salespeople, and it’s still unaddressed. Salesforce is the natural anchor platform for that opportunity.
(Disclosure: Building a great mobile app for salespeople is my new job, check it out at http://selligy.com.)