Brean Capital believes salesforce.com, inc.
Move Over SAP, Oracle
This is evident from the fact that the company closed record number of seven-figure+ deals and closed seven large financial services customers in its third quarter, leading to
“We highlight that the company has benefited from strategically positioning its product strategy around front-office, customer-facing, revenue-generating solutions, which our checks indicate is becoming an increasing focus of large corporations,” analyst Yun Kim wrote in a note.
Platform Product Gains
As in the past, salesforce saw
Salesforce’s net new deferred commissions, an indication of bookings trend,
A Word Of Caution, But Maintaining At Buy
“However, we note that with increasing deal size, the company's business becomes more backend loaded and its quarterly sales execution risk increases,” Kim noted.
That said, Kim maintains Buy rating, with a price target of $110, saying that salesforce is the “best positioned” vendor to benefit from favorable spending trend towards front-office, customer-facing and revenue-generating initiatives.
Shares of salesforce closed Thursday’s trading at $75.19. At Friday's open, shares were up 6.26 percent at $79.90.
|Nov 2016||OTR Global||Upgrades||Mixed||Positive|
|Oct 2016||Rosenblatt||Initiates Coverage On||Buy|
|Oct 2016||DA Davidson||Maintains||Neutral|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.