salesforce.com (CRM) In Line With Lofty Expectations - Deutsche Bank

Deutsche Bank analyst, Karl Keirstead, reiterated his Buy rating on shares of salesforce.com (NYSE: CRM) and raised his price target to $150 from $140 but noted that buy side expectations for billings growth may have been as high as high teens making the 17%, although a beat on guidance, in line with expectations.

The analyst stated "For 2QF19, we calculate 18% implied organic billings guide given the unearned revs (UR) guide of +23% y/y and stripping out $95m of assumed MuleSoft revs. Assuming a “normal” beat, 20%-25% billings growth in 2QF19 will likely be viewed as good enough".

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 $126.88 yesterday.

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