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Salesforce.com (CRM) is up 7.2% AH after the company follows up on its FQ1 beat and guidance...

  • Thursday, May 17, 2012, 6:43 PM ET
    Salesforce.com (CRM) is up 7.2% AH after the company follows up on its FQ1 beat and guidance hike with a largely positive earnings call. While guiding for flat Q/Q deferred revenue growth, Salesforce says its FQ2 pipeline is "unlike anything seen before in size, scope." CEO Mark Benioff also couldn't resist taking a shot at SAP, which recently bought rival cloud software vendor SuccessFactors.
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    Us shorts who really understand the ridiculous valuation of CRM will have the last laugh at Mr. Benioff. His non GAAP accounting is all smoke and mirrors. And in the end, the stock will trade at a market multiple that's in line with real earnings and reduced growth, which is inevitiable. This is a $60. stock at best, and that assumes he can turn a $2.00 REAL profit per share, and still maintian a 15-20% growth. Based on the way he has managed his
    expenses thus far, I highly doubt we will see REAL profits for a long long time, and in the iterim...one missed quarter and this stock will be Roasted along side Green Mountain Coffee Roasters !
    17 May 2012, 07:02 PM Reply Like
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