Salesforce: A Story Already Sold

Salesforce is a leader in the CRM space and is acquiring aggressively to tap the fast-growing integrations and data visualizations market. The growth aspirations of doubling its revenue to $27B by 2023 imply a revenue growth rate of 17% from here, but on past performance looks achievable. Valuation and stock performance-wise, there is no distinct story here – neither do valuations suggest that the stock is cheap (or expensive), nor has the share price that has tracked the broader S&P500 shown any significant underperformance versus peers. Hence, I am “Neutral” on the stock over the next 12-month period, with the belief that the growth story is priced in at the current stock prices.

https://seekingalpha.com/article/4302010-salesforce-story-already-sold