Deutsche Bank Reiterates Buy Rating On SuccessFactors

According to Deutsche Bank, SuccessFactors SFSF Buy rating is reiterated. Deutsche Bank said that it views recent sell-off in SFSF as a buying opportunity ahead of a solid 2Q. “We raise our estimates for close of Plateau. SFSF trades at 5x 2012e revenues, at a discount to median SaaS leader valuations of 7x.” SuccessFactors closed yesterday at $27.62.