Oppenheimer And Morgan Stanley Reiterate: Salesforce.com In A Great Position For Growth

Oppenheimer issued a report on salesforce.com, Inc. (NYSE: CRM) after meeting with CFO Mark Hawkins. Oppenheimer reiterated its Outperform rating and issued an $80 price target.

Analysts Brian Schwartz and Julian Serafini wrote, "We came away feeling more positive on the current business momentum and CRM's growth and margin expansion opportunities in 2015 given a strong pipeline, healthy secular demand for SaaS technologies, a solid track record of delivering consistent results, and a promising next generation new product cycle in Analytics to fuel growth in 2016."

Oppenheimer believes that salesforce.com is one of the best positioned IT suppliers for share gains and customer penetration expansion because its vision, strategy and products are properly aligned to secular cloud software spending demand.

With the same sediment as Oppenheimer, Ken Weiss and Stan Zlotsky of Morgan Stanley issued a report on salesforce.com saying that the IT company remains one of their top picks. The firm rates salesforce.com as Overweight with an $80 price target.

"We are keeping salesforce.com on the Morgan Stanley Best ideas List on the back of sustainable 20 percent billings growth and significant margin expansion, which could drive 25 percent FCF growth thru 2016."

Shares of Salesforce.com closed Monday at $67.94.