salesforce.com (CRM) Partnership with Amazon.com (AMZN) Confirmed - Piper Jaffray

PiperJaffray analyst, Alex Zukin, believes the most important metrics in Salesforce.com's (NYSE: CRM) quarter were: billings of $1.632 billion (+31% Y/Y), the announcement of a large strategic deal with Amazon, another 9-figure deal, Sales Cloud accelerating in 1Q to 15% and accelerating backlog growth of 28%. The firm maintained an Overweight rating and lifted its price target to $100.00 (from $95.00).

Speculation of a CRM/AMZN partnership was confirmed after the following quote:

"I think you'll continue to see more announcements between Salesforce and Amazon and you will see our partnership and strategic alliance with them continue to grow and develop. And Jeff and I have a lot of very exciting ideas on what the next steps are."

For an analyst ratings summary and ratings history on salesforce.com click here. For more ratings news on salesforce.com click here.

Shares of salesforce.com closed at $77.87 yesterday.

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