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Salesforce Makes Its Tenth Purchase In 12 Months With BeyondCore Deal

Salesforce Makes Its Tenth Purchase In 12 Months With BeyondCore Deal - Salesforce.com Inc NYSE:CRM

On August 22, salesforce.com, inc. CRM 0.36% announced the acquisition of privately held business analytics solution provider, BeyondCore.

BTIG’s Joel P. Fishbein, Jr. maintains a Buy rating on salesforce.com, with a price target of $100.

Tenth Acquisition In 12 Months

“While Salesforce’s recent Quip deal looked like a typical ‘acquihire,’ BeyondCore adds advanced analytics capabilities on top of the Analytics Cloud’s core data visualization functionality,” Fishbein mentioned.

This deal markets the tenth acquisition by salesforce.com over the past 12 months.

Related Link: The Reveal Of Salesforce's Big Bid For LinkedIn Makes This Analyst Nervous

The analyst pointed out that the competitive environment was robust, and salesforce.com was expected to continue to make acquisitions to further differentiate its platform.

“The company’s core product should enhance the data discovery and AI capabilities of the new Salesforce Analytics Cloud,” Fishbein stated, while adding, “Similar to the Quip acquisition, BeyondCore CEO Arijit Sengupta and his team will join Salesforce upon the deal’s expected closure within the year.”

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DateFirmActionFromTo
Aug 2016OTR GlobalDowngradesPositiveMixed
Jul 2016Morgan StanleyMaintainsOverweight
Jul 2016CitigroupMaintainsBuy

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