Salesforce Reports Higher Earnings But Lowers CRM Guidance

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  • #20031
    Super Harley
    Participant

    Cloud enterprise software firm Salesforce.com reported better than…

    [article]1404[/article]

    #20039
    Super Harley
    Participant

    Raymond James reiterated Salesforce $CRM a Strong Buy and raised its price target to $200 from $165.
    Robert Baird reiterated Salesforce $CRM an Outperform rating and raised its price target to $175 from $165.
    Wells Fargo reiterated Salesforce $CRM an Outperform rating and raised its price target to $185 from $175.

    #20040
    Super Harley
    Participant

    Wedbush reiterated Salesforce $CRM an Outperform rating and raised its price target to $192 from $174.
    BMO reiterated Salesforce $CRM an Outperform rating and raised its price target to $185 from $175.
    JPMorgan reiterated Salesforce $CRM a Buy rating with a $180 price target.

    #20041
    Super Harley
    Participant

    Macquarie reiterated Salesforce $CRM an Outperform rating and raised its price target to $188 from $174.

    #20042
    Super Harley
    Participant

    Deutsche Bank reiterated Salesforce $CRM a Buy rating.
    Barclays reiterated Salesforce $CRM an Overweight rating with a $180 price target.

    #20043
    Super Harley
    Participant

    “While the stock pulled back in the after hours, we continue to see $CRM as one of the best positioned companies in software,” Goldman Sachs analyst Heather Bellini.

    $GS Buy rating, price target to $179 from $178

    #20044
    Super Harley
    Participant

    Deutsche Bank- Buy rating, price target to $185 from $165

    “Given the solid results and outlook, we’re raising our PT from $165 to $185, based on an assumed FY21E FCF multiple of 34x, up from our prior estimate of 33x and fair given the 20%-25% growth outlook, rising margins and what appears to be conservative FY20 guidance…… impressive for a company about to hit its 20th birthday. We reaffirm our BUY rating…”

    #20045
    Super Harley
    Participant

    Morgan Stanley- Overweight rating on CRM

    “A 4-year target of $26-28 billion in revenues, double the $13.3 billion reported in the most recent year, gains credibility from best in class positioning for digital transformation initiatives and the 23% billings growth seen in FY19…

    Three key factors bolster our confidence in the durability of Salesforce.com’s growth longer-term:
    1) Targeting a $200 Billion total Available Market,…
    2) Best in Class Positioning for digitalization initiatives,… and
    3) the big get bigger in SaaS (software as a service)…”

    #20046
    Super Harley
    Participant

    BMO- Outperform rating, price target to $185 from $175

    “We believe that software seems poised to take a breather, particularly growth software… For example, strong prints by Workday (Market Perform), Splunk and VMWare (both Outperform) have been met largely with investor apathy, given current valuation levels… With that said, we remain encouraged by salesforce’s current and longer-term positioning, and thus are taking our target price from $175 to $185, while maintaining our EV/revenue target multiple of 7-8x… We believe that the challenge for Salesforce will be maintaining a cadence of beat and very modest raises… We note that our current FY20 forecast calls for ~20% organic growth, which we think has modest upside potential…”

    #20047
    Super Harley
    Participant

    J.P. Morgan- Overweight rating, CRM price target to $180 from $150

    “Net/net, Q4 was not a ‘blowout’ but represented a solid quarter reinforcing the steady growth trajectory of the business at scale and provides additional evidence that Salesforce offers exposure to attractive growth markets and consistently executes against its opportunity…”

    #20048
    Super Harley
    Participant

    UBS – Buy rating, price target to $190 from $180

    “Shares traded off slightly in the aftermarket as investors digest the lower Q1 guide and Q4 results that were solid but didn’t deliver the same level of blowout we saw last Q4 (when CRM beat billings consensus by 8%)… However, we continue to see CRM as offering a solid combination of secular growth, stable FCF, and defensible FCF -based valuation support and remain buyers here while our PT moves from $180 to $190 …”

    #20321
    ThePitBoss
    Participant

    Salesforce.com Inc. (NYSE: CRM) started with an Outperform rating at BNP Paribas.

    52-week range of $113.60 to $166.99. closedg Thursday at $155.18.

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