Analysts: Salesforce.com Coverage Starts at Buy
Morgan Joseph Analysts say the company stands to benefit from significant market growth opportunities.
According to StreetInsider, Morgan Joseph has initiated coverage on Salesforce.com (NYSE: CRM) with a Buy. PT $170. In the report, Morgan analyst said that Salesforce.com stands to benefit from several key advantages as well as significant market growth opportunities.
"The transition of almost all software to the 'cloud' is inevitable, in our view, as Software-as-a- Service (SaaS) offerings lower overall investment costs in hardware and software for enterprise customers, and lead to a CRM subscription-based model."