Another strong quarter; raising PT
FYQ3 billings were comfortably ahead while the Q4 outlook is broadly in line when factoring in the company's usual conservatism. We were encouraged to see a re-acceleration in Service Cloud, strong margin expansion and moderation in stock-based comp expense. Momentum in the business and diminishing M&A concerns should support ongoing expansion in the revenue multiple - we raise our price target to $133.Salesforce.Com is engaged in customer relationship management technology. The company's Customer 360 is an integrated platform that unites sales, service, marketing, commerce, integration, analytics and more to give companies a single, shared view of their customers. Through its platform and other developer tools, the company also enables third parties to develop additional functionality and applications, or apps, that run on its platform, which are sold separately from or in conjunction with the company's service offerings. The company's cloud service offerings include sales cloud, service cloud, marketing and commerce cloud, and salesforce platform and other.
Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.
Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.
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