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3 Tech Stocks With More Upside for 2012 (Update 2)

Stocks in this article: AAPL MSFT CRM is a battleground stock, with bears and bulls on both sides of the fence. Roth Capital analyst Nathan Schneiderman called "one of the most compelling secular growth stories in the enterprise-software space." He has a buy rating and a $165 price target on the stock. Conversely, Morningstar analyst Sunit Gogia has an $81 fair value on the stock, and Fusion's Brown said he would be selling the stock. The average price estimate on Thomson Reuters is $165.60, so this indicates analysts believe there is still more room to the upside.

Business appears to be exceptionally strong at the cloud specialist. Salesforce CEO Mark Benioff and his team recently confirmed that the company signed its first ever nine-figure deal in the early days of the first quarter. Its previous largest deal was with HP (HPQ).

Several large hedge funds added to or initiated stakes during the fourth quarter. Alkeon Capital Management added 235,991 shares, SAC Advisors added over 80,000 shares, and Libra Advisors initiated a position during the quarter.

Deutsche Bank analyst Tom Ernst Jr. believes there is significant upside from here, as he raised his price target to $215 from $205 after the most recent quarter. He has a buy rating on shares.

Ernst was impressed by the reported billings growth, and noted that " The company is well underway in becoming a strategic vendor of choice for large enterprises, instead of a point solution provider." Ernst is also impressed with's acquisition strategy, saying he believes the large acquisitions done last year are seeing growth of greater than 100%, and are accelerating since acquired the companies, as sales are now being done at the CEO level. recently reported strong fourth-quarter earnings and first-quarter 2012 guidance, as the cloud computing company said billings jumped 57% year-over-year. was recently mentioned as one of three of the top cloud stocks for 2012.

TheStreet Ratings rates "hold".

Shares of are up 41.4% year-to-date and 3.33% over the past twelve months.

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>>To see these stocks in action, visit the 3 Tech Stocks With More Upside for 2012 portfolio on Stockpickr.

-- Written by Chris Ciaccia in New York

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