NEW YORK (TheStreet) -- Shares of Salesforce.com (CRM) were rising in early afternoon trading on Tuesday as Morgan Stanley reiterated an "overweight" rating and $107 price target on the stock, Barron's reports.
Investors should buy Salesforce.com shares ahead of its fiscal 2017 third quarter report, due after the market close on November 17, the firm said.
Last month, the San Francisco-based cloud computing solutions provider decided against bidding for social media company Twitter (TWTR).
With lower possibility of large mergers and acquisitions, Salesforce.com's fundamentals should again be a focus for investors, Morgan Stanley said, according to Barron's.
"Salesforce continues to stay ahead of key secular themes in the space, with direct participation in machine learning, mobile computing, Internet of things, social and cloud computing broadly," the firm noted.
Due to growth in Salesforce.com's four broad cloud solutions categories, Morgan Stanley estimates that the company could see a potential market opportunity of more than $165 billion through fiscal 2019.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "hold" with a ratings score of C.
The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, premium valuation and weak operating cash flow.
You can view the full analysis from the report here: CRM