Deutsche Bank Reiterates a 'Buy' on salesforce.com (CRM); Reorganization to Offer Long-Term Opportunity
May 14, 2012 10:04 AM EDT
Deutsche Bank reiterates a 'Buy' on salesforce.com (NYSE: CRM) price target of $215.00.
Analyst, Tom Ernst, Jr., said, "Our checks heading into the quarter indicate that Salesforce underwent a large restructuring within its sales organization, which could be disruptive to near-term results, but should be a positive as we go through this year and to the overall growth profile. We are slightly reducing our 1H13 estimates for billings growth to 28% in each of 1Q and 2Q (from 30% and 29% respectively), but are leaving all other estimates unchanged, including FY13 revenue, EPS, and FCF. Despite the execution risk in 1H13, we continue to see much stronger opportunity for upside than downside in 2H13."
For an analyst ratings summary and ratings history on salesforce.com click here. For more ratings news on salesforce.com click here.
Shares of salesforce.com closed at $137.78 yesterday, with a 52 week range of $94.09-$164.75.
FMR is very brutal Mutual fund scam Gang and they won: wow?
FMR LLC 20,183,967 14.73 2,047,865,291 Dec 31, 2011
Many of the analysts covering Salesforce.com are either not suitable for their job or simply dishonest. Anyone with a brain should know that 12 month price targets of anywhere between 150 and 225 are irrational and unrealistic.
Let's face it, in a year from now the best scenario is that this company will have revenues of 3 billion, losing half a dollar per share. With 136 Million shares outstanding, and growing, that is a full year loss of 70 million.
It already has market cap of 20 billion, which is unprecedented high for a stock with revenues under 3 billion. It is provably the most overvalued large cap stock on Wall Street. Is that really provable? Well, just name me one stock with revenues less than 3 billion that has a market cap more than 15 billion. There is none! The only one is Salesforce.com. You would think such a valuation is for a company with awesome profits, ....... but no, it is bleeding money at the bottom line.
The risk with a stock like CRM is that it's hard to predict the timing of when CRM will issue a disappointing earnings report. The earnings report next week could very well indicate all is going well or things are turning bad. The stock could go up 15% or go down 15%. I exiting my position this morning on the pop for this very reason.
Wfc; well fargo has dotcom accounting bomb
warren buffet clown pumps his stake in wells fargo...
well fargo management should be put in jail for dotcom accounting scam
cof/wfc are have topped out and big red flags
goldman sachs is going test lows
jpm will also keep bleeding..