Salesforce,com up 1% post-earnings as sell-side bulls weigh in

|By:, SA News Editor

via Bloomberg

Q1 billing growth of 16% was better than expected, says JPMorgan bull Mark Murphy, with some of largest deals in company history closed. Implied Q2 billings growth of 15% is likely conservative. He lifts his PT to $102 from $95.

Also a bull, Piper's Alex Zukin isn't worried about Q2's billings forecast either. His channel checks see an improvement in the selling environment. He raises his PT to $105 from $100.

Another bull, Cowen's Derrick Wood says the company's execution on large deals "remains impressive."

Any bears? Well, Salesforce (NYSE:CRM) has 41 buys, 4 holds, and 1 sell on the Street, and none of those five are speaking up at the moment. The stock's up 1% to $88.66 today, and ahead 30% YTD.

Previously: Salesforce.com beats and raises as revenues grow 25% (May 18)