Marketo jumps on Goldman Sachs upgrade

|About: Marketo (MKTO)|By:, SA News Editor

Marketo (MKTO +5.5%) shares jump after Goldman Sachs upgrades the stock to Buy and hikes its PT to $45 ($32 previous).

Analyst Greg Dunham is more confident in the growth story following Q3 results and sees the recent dip following earnings as "offering an attractive entry point." MKTO shares had fallen 12% through yesterday's close after spiking following earnings.

Dunham also observes that bear fears of competition by salesforce.com are "overblown" given the large addressable market and its low penetration.