Forecast Of The Day: Salesforce.com’s Cloud-Based CRM Revenue
What?
Trefis expects Salesforce.com’s (NYSE:CRM) Cloud-Based CRM Revenue to rise from $13.7 billion in FY’21 to $16.4 billion in FY’22 and $19.7 billion in FY’23.
Why?
- Down 7.3% In A Day, Where Is Salesforce Stock Headed?
- Up 69% In The Last Twelve Months, What To Expect From Salesforce Stock?
- Up 74% Since The Beginning of 2023, Will Salesforce Stock Continue Its Strong Rally?
- Salesforce Stock Is Undervalued
- Salesforce Stock To Edge Past The Consensus In Q1
- Salesforce Stock Is Trading Below Its Fair Value
We expect growth to be driven by the ongoing shift to cloud-based on-demand software and potentially from market share gains from rival SAP.
So What?
We think the strong outlook for Salesforce’s CRM business should give it more room to rise. We value the stock at about $280 per share, about 17% ahead of the current market price.
See Our Complete Analysis For Salesforce.com
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