Wedbush Says Buy SuccessFactors (NASDAQ:SFSF), Outperforming Peers

Based on demand for collaboration products, and expectations they'll outperform most of their peers, Wedbush says investors should buy into SuccessFactors (NASDAQ:SFSF).

Wedbush asserted, "We advise investors to purchase SFSF shares as we believe they will outperform many of the company’s peers due to its relatively higher growth rate. We also have increasing confidence that 2011 will mark a meaningful shift towards wider adoption of enterprise collaboration software leveraging, as yet, relatively untapped corporate social networks, which the company’s CubeTree products does. Additionally, we believe SFSF management will continue to guide billings growth conservatively, and exceed expectations."

Wedbush maintains an "Outperform" on SuccessFactors, which closed Tuesday at $29.23, losing $0.48, or 1.62 percent. They raised their price target on them from $28 to $34.