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CRM

Salesforce

$68.42

-4.21 (-5.80%)

07:06
10/06/16
10/06
07:06
10/06/16
07:06

Jefferies sees Twitter deal cutting Salesforce share value

Jefferies analyst John DiFucci estimates that a Twitter (TWTR) acquisition would reduce Salesforce (CRM) share value by $11.26 while increased debt would reduce the value by $9.50 to $20, depending on the price paid. The rationale for pursuing Twitter is unclear, DiFucci tells investors in a research note. Assuming no value for Twitter, dilution would reduce the value of Salesforce shares by $11.26 while increased debt would be at least another $9.50 reduction, the analyst contends. Including the value of Twitter, the analyst sees the value of Salesforce in the $60.29 to $70.70 per share range. DiFucci keeps a Hold rating on Salesforce.

CRM Salesforce
$68.42

-4.21 (-5.80%)

10/05/16
BMOC
10/05/16
NO CHANGE
BMOC
Outperform
BMO says Salesforce's positive messages overshadowed by Twitter speculation
BMO Capital analyst Keith Bachman said the positive themes laid out by Salesforce (CRM) management at the company's Dreamforce event, such as guidance to reach $10B in FY18 revenues without inorganic sources of revenue, would traditionally help the stock. However, news reports, including the most recent from the Wall Street Journal, indicating that the company may buy Twitter (TWTR), will outweigh the "positive messages" of the event. If Salesforce were to buy Twitter, the stock would move meaningfully lower, Bachman predicted, but he also wonders if strategic buyers would then potentially consider buying Salesforce. The firm keeps its Outperform rating on Salesforce shares.
10/05/16
STFL
10/05/16
NO CHANGE
Target $93
STFL
Buy
Stifel still sees Salesforce acquisition of Twitter as 'highly unlikely'
Stifel analyst Tom Roderick notes that Salesforce (CRM) kicked off its annual Dreamforce User Conference yesterday amid reports that the company may be a potential suitor for Twitter (TWTR). The analyst still believes that a Salesforce acquisition of Twitter is "highly unlikely," both from a logistical standpoint and from a business model fit perspective. Regarding fundamentals, Roderick continues to view Salesforce as a leading driver of the enterprise shift to the Cloud, and sees no reason why that shouldn't continue to play out in the second half of 2017, in spite of recent concerns about the mid-year slowdown. He reiterates a Buy rating and $93 price target on Salesforce's shares.
10/05/16
JPMS
10/05/16
NO CHANGE
Target $95
JPMS
Overweight
JPMorgan backs Overweight rating on Salesforce as Twitter speculation gears up
JPMorgan analyst Mark Murphy noted that speculation that Salesforce (CRM) could buy Twitter (TWTR) has ratcheted up into a higher gear, fueled by the latest report from the WSJ, and acknowledges the risk of a setback if the company goes forward with such a transformational M&A deal. However, he still views Salesforce as a "rare cloud asset" that can be a long-term share gainer and keeps an Overweight rating and $95 price target on the shares.
10/06/16
SBSH
10/06/16
NO CHANGE
Target $89
SBSH
Buy
Citi says Salesforce buying Twitter 'nearly impossible' above $28/share
Citi analyst Walter Pritchard believes a Salesforce (CRM) acquisition of Twitter (TWTR) is possible financially but that such a deal would put "significant constraints" on the company for the next three-plus years. The analyst sees "very little reason" for Salesforce to own Twitter and feels the acquisition "would pose a difficult decision" for CEO Marc Benioff and the board. Salesforce closed yesterday down 6%, or $4.21, to $68.42. Recode reported last night that the company is likely the only bidder left for Twitter after Disney (DIS) and Alphabet (GOOG) opted not to pursue a deal while Apple (AAPL) is unlikely. Twitter in pre-market trading is down 14% to $21.50. In order for Salesforce to avoid a shareholder vote, it would have to borrow $7.5B to fund the transaction if Twitter were valued at $20B, or $27.50-$28 per share, Pritchard tells investors in a research note. This is a level that likely constrains the company with little additional borrowing capacity for other deals, the analyst contends. He thinks the deal is "nearly impossible to do" for Salesforce should the bidding for Twitter go above $20B or $28 per share. Pritchard has a Buy rating on Salesforce with an $89 price target.

TODAY'S FREE FLY STORIES

V

Visa

$102.90

-2.665 (-2.52%)

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Bullish option play opened in Visa as shares slump »

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RHT

Red Hat

$105.41

-0.89 (-0.84%)

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Options
Red Hat options imply 10.7% move in share price post-earnings, above median historical move »

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APRN

Blue Apron

$5.47

0.28 (5.40%)

14:45
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Blue Apron call volume above normal and directionally bullish »

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TRIP

TripAdvisor

$44.37

0.125 (0.28%)

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Priceline

$1,862.13

-4.22 (-0.23%)

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$44.37

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TRVG

trivago

$10.70

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EXPE

Expedia

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2.65 (1.85%)

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DY

Dycom

$81.51

-1.185 (-1.43%)

14:36
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Conference/Events
Dycom management to meet with Stephens »

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DY

Dycom

$81.56

-1.13 (-1.37%)

14:35
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Dycom put volume heavy and directionally bearish »

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  • 26

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AMZN

Amazon.com

$955.10

-9.55 (-0.99%)

14:31
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09/25
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14:31
Technical Analysis
Technical View: Amazon.com falls, topping process confirmed »

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DIS

Disney

$99.37

0.77 (0.78%)

14:27
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Recommendations
Disney analyst commentary  »

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  • 09

    Nov

ESV

Ensco

$5.77

0.53 (10.11%)

14:25
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09/25
14:25
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Options
Ensco call volume above normal and directionally bullish »

Bullish option flow…

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  • 02

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    Oct

NFLX

Netflix

$187.35

-1.43 (-0.76%)

14:21
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Technical Analysis
Technical View: Netflix trades near lows of the day »

The shares are down over…

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$NSD

NASDAQ Market Internals

14:17
09/25/17
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Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

14:16
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Technical Analysis
NYSE market internals summary »

Volume is average for…

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GREK

Global X MSCI Greece ETF

$9.18

-0.635 (-6.47%)

14:10
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Options
MSCI Greek Fund puts are active as shares falter »

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AMD

AMD

$13.30

-0.11 (-0.82%)

, NVDA

Nvidia

$179.00

-1.76 (-0.97%)

14:08
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09/25
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Hot Stocks
AMD, NVIDIA fall after Intel unveils next generation of core processors »

Shares of AMD (AMD) and…

AMD

AMD

$13.30

-0.11 (-0.82%)

NVDA

Nvidia

$179.00

-1.76 (-0.97%)

INTC

Intel

$37.18

-0.02 (-0.05%)

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HLF

Herbalife

$67.51

-0.06 (-0.09%)

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FTC grants Carl Icahn clearance for additional Herbalife purchases »

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YY

YY

$80.52

4.45 (5.85%)

14:05
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YY call volume above normal and directionally bullish »

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General news
Treasury Option Action: heavy put spread demand at the short-end »

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RCII

Rent-A-Center

$10.80

-0.07 (-0.64%)

13:55
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Options
Rent A Center put volume heavy and directionally bearish »

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Conference/Events
Senate Finance Committee holds a hearing »

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GS

Goldman Sachs

$230.10

-0.93 (-0.40%)

13:54
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Periodicals
Symphony to raise $100M to expand, The Information says »

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AMDA

Amedica

$0.33

0.005 (1.56%)

13:50
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Downgrade
Amedica rating change  »

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  • 26

    Sep

SCWX

SecureWorks

$12.57

0.15 (1.21%)

13:47
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Hot Stocks
Breaking Hot Stocks news story on SecureWorks »

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DVN

Devon Energy

$36.59

0.81 (2.26%)

13:45
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Options
Devon Energy call volume above normal and directionally bullish »

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  • 01

    Nov

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General news
Treasury Action: coupon supply commences Tuesday »

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ADP

ADP

$108.16

1.37 (1.28%)

13:43
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