, inc. (NYSE:CRM) just held its annual Dreamforce conference, where the cloud computing giant met with both customers and developers alike to underscore company goals.

Canaccord top analyst Richard Davis believed he would leave Dreamforce all the “more enthused the firm’s fundamental outlook” and that expectation was met. As such, deeming CRM’s outlook and momentum “strong” and noting that customers are rooting for CRM’s success, an attribute Davis thinks it wise not to be underestimated, the analyst reiterates a Buy rating on shares of CRM with a $95 price target, which represents a 33% increase from where the stock is currently trading.

Moreover, Davis contends that investors will see eye-to-eye with his prediction that large cap application software is swiftly transitioning to “a three-horse race” with Salesforce, Workday, and Adobe at the forefront, and other competitors left lagging behind.

“The fact is that the revenue and profit growth of those firms is 3-5x faster than any of their legacy peers. Thus, count us as bullish on CRM – but what about the elephant in the room, Twitter? Dreamforce week began with leaks on a possible bid and speculation that Salesforce was the high bidder, and then ended with CEO Benioff reminding investors that Salesforce considers every large deal, but that the firm has price discipline as well. We take that to mean, ‘We will only consider Twitter at a truly reasonable price, which is not $28.’ That works, so we believe CRM is worthy of investor consideration at current levels,” Davis concludes.

As usual, we like to include the analyst’s track record when reporting on new analyst notes to give a perspective on the effect it has on stock performance. According to TipRanks, top five-star analyst Richard Davis has achieved a high ranking of #66 out of 4,190 analysts. Davis upholds a 62% success rate and garners 10.7% in his annual returns. When recommending CRM, Davis earns 12.9% in average profits on the stock.

TipRanks analytics demonstrate CRM as a Strong Buy. Based on 31 analysts polled in the last 3 months, 29 rate a Buy on CRM, while 2 maintain a Hold. The 12-month price target stands at $95.00, marking a 33% upside from where the shares last closed.