Salesforce.com, with nearly 20% of its business in Europe, has traded down today ahead of a quarterly earnings report at 5 p.m. Eastern time.
Shares of Salesforce.com (CRM) had fallen about 4% before the close to $125 and change. Analysts are expecting the company to beat estimates for earnings of 31 cents per share on revenue of nearly $572 million.
Piper Jaffray, which has a price target of $183 — that’s? upside of 45% – says recent interviews with seven Salesforce.com partners indicate the company “is entering a crucial phase as it transforms from a provider of disparate point systems supported by a ‘land and expand’ strategy to the source of a well-integrated and continuously growing set of solutions” to strategic business problems.
Analysts Mark Murphy, Matthew Coss and Pinjalim Bora also write that,
“Partners also highlighted the compelling value proposition of Force.com … in the developer community, and qualified it as ‘a big story … not been told really well yet.’ CRM remains the best long-term investment in the powerful cloud computing wave, in our view.”
They’ll be looking for more clarity on the acquisition of ModelMetrics, a Chicago consulting partner.
Tags: 2012 Growth Stocks ,GM ,Growth China Stocks ,Growth Stocks To Hold ,Growth Stocks To Invest In 2012 ,GM Plummets on Disappointing European Prospects
No comments:
Post a Comment