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UPDATE: Morgan Stanley Reiterates On salesforce.com

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Courtesy of Benzinga.

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In a note released Wednesday, Morgan Stanley analyst Keith Weiss reiterated an Overweight rating on salesforce.com, inc. (NYSE: CRM) but has removed the $79 price target.

Weiss noted, "Today's Analyst meeting highlighted SFDC's execution against the $10B Playbook outlined last year."

Following the analyst meeting, Weiss views salesforce.com's $10 billion target is less of a structural question and more a function of time. He is currently predicting the company will hit a $10 billion run rate in fiscal 2018.

As drivers of this growth, Weiss pointed to the expansion of the product set as well as growth of the partner ecosystem.

Looking at products, Weiss noted salesforce.com continues to introduce more cloud solutions to the market, such as the recently announced Analytics Cloud. Developments in the partner ecosystem include the addition of Tyler Prince, who was recently brought in to streamline the company's partner channel.

Despite the optimism at Morgan Stanley, salesforce.com was trading down approximately 1.7 percent.

Latest Ratings for CRM

Date Firm Action From To
Oct 2014 Northland Securities Maintains Buy
Oct 2014 Nomura Maintains Buy
Oct 2014 Sterne Agee Initiates Coverage on Buy

View More Analyst Ratings for CRM
View the Latest Analyst Ratings

Posted-In: Keith Weiss Morgan StanleyAnalyst Color News Price Target Reiteration Analyst Ratings

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