Salesforce Team 1 - Initiation report
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Transcript of Salesforce Team 1 - Initiation report
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SALESFORCE INITIAL COVERAGE PRESENTATION
This report was published for educational purposes only. Master of Finance candidates at Hult International Business School – San Francisco Campus, wrote the content of this report as a requirement to complete the program. This report may not be reproduced in any form without prior written consent. All rights reserved.
San Francisco, August 10, 2015
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Buy Recommendation
Target Price Upside Consensus$100 42% $80-95
GrowthScalability Expansion
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“We strongly believe scalability will act as a key growth driver as more customers become multi-cloud”
75% Revenues
25% Clients
Multi-Cloud Scalability
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“SaaS will be present in every business and Salesforce is leading the industry revolution”
Source: Forrester Inc.
SaaS Market 2017
$105.5 BCRM Market
2017 $36.5 B
Market Growing at Fast Rate
20082009
20102011
20122013
20142015
20162017
20182019
20200
25
50
75
100
125
150
175
BPaaS ($) SaaS ($) PaaS ($) IaaS ($)
US$
Bill
ion
SaaS
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“International expansion is paying off, with 33% growing rates in the European market”
72%18%
10%
33%
33%
21%
Revenues [% of total]
Revenues growth
Aggressive International Expansion
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“Future company performance will continue to elevate the price of the shares.”
Investment Recommendation
$10042%
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Credentials
Esteban Angeletti: Financial and accounting sector professional with more than 6 years of experience in internal and external audit, strategic planning and business development. Coordinated the efforts of a USD 1.24B expansion plan of a multinational company and raised more than USD 620M in order to finance the plan. Performed the valuation of a USD 195M acquisition.
Taivan Enkhtaivan: Finance professional with 3 years of experience in asset and investment management in the finance and insurance industries. Worked as an insurance underwriter and research/investment analyst. Global experience in Central Asia and the United States..
Erkan Yaray: Internal consultant with work experience in cash and foreign exchange management in a globally leading automotive company. Work experience includes participation in major projects. CFA Level 1.
Daniel Gomez: Management consultant with work experience in several start-ups. Administrative experience includes sales operations, price and cost structures analysis, personnel training and business-to-business negotiations. Experience in project management and implementation of quality management programs.
Tiancheng Tian: Auditor at Grant Thornton for Chinese IPO Candidates. CFA Level III Candidate. Master of Finance at HULT International Business School.
Sean Wells: Senior Undergraduate Business student with a concentration in Finance and Accounting. 1 year experience within the SaaS industry specializing in multi-cloud CRM solutions for customers in Europe and South America.