Stifel Nicolaus Believes Salesforce.com (NYSE: CRM) Still Has Room to Grow

By Jason Carr

Stifel Nicolaus analyst Tom Roderick reiterated a Buy rating on Salesforce.com (NYSE: CRM) today and set a price target of $105. The company’s shares closed yesterday at $87.75, close to its 52-week high of $90.28.

According to TipRanks.com, Roderick is a 4-star analyst with an average return of 8.3% and a 56.0% success rate. Roderick covers the Technology sector, focusing on stocks such as Synchronoss Technologies, Nuance Communications, and Dealertrack Holdings.

Currently, the analyst consensus on Salesforce.com is Strong Buy and the average price target is $96.38, representing a 9.8% upside.

In a report issued on May 12, Piper Jaffray also maintained a Buy rating on the stock with a $100 price target.

Based on Salesforce.com’s latest earnings report for the quarter ending April 30, the company posted quarterly revenue of $2.39 billion and GAAP net loss of $9.21 million. In comparison, last year the company earned revenue of $1.92 billion and had a net profit of $38.76 million.

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salesforce.com, inc. is a customer relationship management company, which provides enterprise software. Its Customer Success Platform offers a comprehensive portfolio of services, such as sales force automation, customer service and support, marketing automation, digital commerce, community management, analytics, application development, IoT integration, collaborative productivity tools and professional cloud services. The company enables industries and companies of all sizes to connect their customers using cloud, social, mobile and data science technologies. It also encourages third parties to develop additional functionality and new apps that run on its platform and other developer tools. salesforce.com was founded by Marc Russell Benioff, Parker Harris, David Moellenhoff, and Frank Dominguez in February 1999 and is headquartered in San Francisco, CA.