Salesforce’s big day out, Q1 earnings/2009 plans

May 23, 2008

Coming off yesterday’s earnings webcast/press release/zoo with a net income of $9.6 million up from 730k the same quarter last year, Salesforce’s dividends are up to 8 cents a share from 1 cent a share. (yeah, you don’t really need a calculator, that’s a 700% increase) CRM is defying market and seasonal trends.

Hitting half a dozen winners lists for Thursday, CRM has drew a lot of attention yesterday. Investment houses that have ignored Salesforce’s stock since adjusting targets to 50$ (a price CRM met at the end of September 2007) have been forced to give it another look.

The most optimistic yesterday would have to be Citi Investment Research’s Brent Thill bumping CRM up to an 80$ target and setting it to a BUY rating, following just behind in optimism was Jefferies & Co. moving their target up to $77 however neither of these two increases match megabank UBS’ target of 82$, set Monday. Early adopters, I like that.

Couple that showing of confidence with Salesforce’s brand new international data center plans and, well, let’s say CRM isn’t going anywhere for a good long while.

But you all knew that.

Here are a bunch of links to just a handful of sites. Lastly, the site that read the most interesting to me, is here.

Written by Michael · Filed Under Salesforce.com News