Salesforce.com (NYSE:CRM) Cloud-Based CRM Revenue rose from $11.5 billion in FY’20 to about $13.7 billion in FY’21. Trefis expects the metric to grow to close to $20 billion by FY’23.
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We expect revenues to rise due to the ongoing shift to cloud-based on-demand software.
We think Salesforce.com stock is undervalued at current levels. We value CRM at about $327 per share, about 60% ahead of the current market price.
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|S&P 500 Return||-5%||-10%||92%|
|Trefis MS Portfolio Return||-3%||-12%||246%|
 Month-to-date and year-to-date as of 2/23/2022
 Cumulative total returns since the end of 2016