CRM: “We Would Be Buyers on Weakness”

This article was placed on behalf of the U.S. based equity research effort of institutional broker and investment bank Canaccord Genuity. It was part of a series of articles developed under an agreement with forbes.com to work with a variety of contributors and assist them in delivering actionable investment ideas each week. The site, forbes.com is one of the top 500 sites in the world with nearly 10 million subscribers and approximately 100 million page views a month.

Canaccord Genuity technology analyst Richard Davis reiterated his BUY rating and $170 price target on Salesforce.com (CRM) after shares dropped 6% when the “calculated billings” was reported below expectations . Mr. Davis said:

“We will take our medicine today, but we have lost none of our conviction that Salesforce.com should be a core holding in any growth portfolio. We would be buyers on weakness.”

He added, “Our view is that at some point, perhaps once we get back to a less skittish market, investors will have sufficient confidence in Salesforce’s outlook that the stock will move higher; and in our opinion much higher. Indeed, we believe it is possible that CRM shares could double within 3-4 years, which would imply a 20-25% annual pace of appreciation.”

Amazon Summits A Dow That No Longer Exists

The addition of Amazon to the Dow with Walgreen’s unceremonious deletion, and the Dow’s current composition tells it like it

Financial Institutions Feeling the Crunch in Countdown to CECL Implementation

I was retained by Big Four accounting and consulting firm KPMG to assist them in their thought leadership efforts centered on changing accounting regulations. In this case, the Financial Accounting Standards Board or FASB had instituted new rules on the measurement of current and expected credit losses, i.e. CECL, that would require massive reorganization of financial reporting for the largest financial services organizations in the world. This thought leadership piece concerned the results of a survey among C-suite executives about their state of preparedness in the final countdown to the CECL implementation.

Securitizing Structured Settlement Payment Streams: A Primer

Fall 2012. This article was written with Stefano Sola and Phil Donahue, executives at JGWPT Holdings. We were engaged by JGWPT to assist them
in publishing the article below for The Journal Of Structured Finance.

Is The Media Biased?

This story is from our February 2024 update newsletter that offers communications insights, and hopefully, some amusing diversion.

David R. Evanson, LLC David R. Evanson, LLC