salesforce.com (CRM) PT Raised to $100 at Stifel Following Strong 4Q17 Beat; '33% Bookings Growth, Sales Cloud Accelerating'

Stifel analyst Tom Roderick raised its price target on salesforce.com (NYSE: CRM) to $100.00 (from $93.00) while maintaining a Buy rating, noting sales cloud acceleration, as the company's fourth quarter revenue and EPS figures exceeded consensus expectations.

Roderick comments, "On Tuesday, February 28th after the market close, salesforce.com reported another outstanding 4th quarter, highlighted by industry specific success that in turn drove a record number of 8 figure transactions in the quarter. With both the Sales Cloud and the Marketing Cloud organically accelerating in Q4, the company is demonstrating that a multi-product vision is resonating in the enterprise. We maintain our Buy rating and we are raising our 12-month price target to $100 as we introduce our FY19 numbers."

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