![]() These efforts include its $28 billion deal to buy Slack in the summer of 2021 to help CRM compete against Microsoft (( MSFT Quick Quote MSFT - Free Report) ) and Zoom Video (( ZM Quick Quote ZM - Free Report) ) in the evolving work communication space. Salesforce made a few large acquisitions over the last several years to expand its reach. ![]() Salesforce’s massive and steady expansion highlights the strength of its business model and the constant need for companies of all shapes and sizes to adapt to the quickly changing tech-fueled business landscape. CRM posted between roughly 25% and 35% sales growth for 10 straight years through its fiscal 2022-going from $3.1 billion in FY13 to $26.5 billion in FY22 (2021). The company has grown its top line at an impressive clip since its 2004 IPO. Its various divisions support sales, marketing, commerce, communication, customer and client engagement, analytics, app development, and beyond. Salesforce helped start the software-as-a-service industry that nearly every business, government, and countless other entities rely on today to help them accomplish just about everything. All told, it might be time to consider buying Salesforce stock as a long-term stable tech play. Salesforce’s subscription-based offerings remain critical to around 150,000 companies in our digital-driven world. ![]() Plus, Salesforce’s valuation has improved dramatically. CRM shares have surged over 35% YTD, yet they still hover near pre-pandemic levels from early 2020. Salesforce is poised to boost its margins and buybacks in the near term instead of chasing further acquisitions. The vanguard of modern business software assured activist investors and Wall Street on its earnings call and with its updated outlook that Salesforce is ready to focus on profitability over nearly everything else. Salesforce (( CRM Quick Quote CRM - Free Report) ) surged after the firm topped Q4 FY23 estimates on March 1 and provided upbeat guidance.
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