Piper Jaffray Highlights Revenue Upside On CRM

Piper Jaffray is maintaining its Overweight rating and its $177 price target on salesforce.com CRM as it looks forward to the company's upside in revenue. According to Piper Jaffray, “Our discussions with contacts in the CRM ecosystem indicate "absolutely steadily growing" demand, a reasonable mix of large deals and increasing traction in large enterprises. Continuous innovation of the Force.com platform, Service Cloud, and Chatter are viewed to be driving an ongoing wave of interest in standardizing on salesforce.com as a business platform that reaches into new corners of the organization. Expect revenue upside; Overweight, $177 target.” CRM closed at $130.08 yesterday.