Piper Jaffray Reiterates Overweight Rating On Salesforce.com

According to Piper Jaffray, Salesforce.com CRM transactions shows that growth has accelerated to 64% in the first two months of FQ2 from 62% during the same period last quarter. Piper Jaffray said that it notes the significance of this by highlighting the historical 90% correlation between transaction growth and billings growth, and it suggests business continues to perform well in FQ2. “Reiterate Overweight, $183 price target.” Salesforce.com closed yesterday at $146.25.