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Salesforce hits 52-week highs, analyst praise pours in

  • Salesforce.com (CRM +14%) shares gap up to 52-week highs a day after blowing past Wall Street estimates, and analyst praise continues to pour in.
  • CRM “remains by a wide margin the fastest growing company of its size [which] should be able to keep its impressive growth trajectory relatively intact for at least the next 6-8 quarters," Canaccord says in reiterating its Buy rating.
  • Credit Suisse raises its price target to $60 from $52.50 as the company "most leveraged to the massive technology refresh and expansion cycle across the B2B and B2C CRM segments."
  • Earlier analyst commentary: I, II.
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Comments (1)
  • Doyle3000
    , contributor
    Comments (1366) | Send Message
     
    "CRM “remains by a wide margin the fastest growing company of its size [which] should be able to keep its impressive growth trajectory relatively intact for at least the next 6-8 quarters," Canaccord says in reiterating its Buy rating"

     

    Hmmm which 6 - 8 companies are they going to overpay for to keep this growth rate over the next 6-8 quarters? It's certainly not organic growth. And now according to their latest purchase, their stock is no longer good currency. They had to pay $2.5b cash to hit these latest 'beats'.

     

    A company can only buy it's growth with cash for so long.
    30 Aug 2013, 02:16 PM Reply Like
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