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Fly News Breaks for May 21, 2015
CRM
May 21, 2015 | 05:57 EDT
Jefferies says a closer at Salesforce's Q1 results indicate a "surprisingly big artificial boost" to billings from the move to annual invoicing. New subscription annual contract value was flat year-over-year when adjusting for the invoicing switch, Jefferies tells investors this morning. The firm remains "convinced" in its Underperform rating on Salesforce and keeps a $49 price target for the shares. The stock is trading up $4.44 to $74.60 in pre-market trading.
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