- Salesforce (NYSE:CRM) is a top pick at Deutsche as the bank says the shares are set to outperform the market after underperforming YTD. Price target raised to $58.
- Macquarie also likes the quarter, noting that CRM 's "most important metric, normalized billings, grew +27% Y/Y (organic CC)." Macquarie had forecast 24% growth. FY14 non-GAAP EPS and revenue estimates raised to $0.34 (from $0.32) and $4.019B (from $4B) respectively. Outperform reiterated, price target raised to $50.
- William Blair highlights a 16th straight decline in customer churn which "shows that the company continues to sign more enterprise customers and is becoming more critical to clients."
- Wunderlich sees a "breakout upside."
- Shares +9% premarket.
- More: Earnings, Q2 highlights, CC transcript