Salesforce (NYSE: CRM) has long been a cloud-based software darling. The company's wildly popular customer relationship management (CRM) software has given its corporate users' sales teams the collaboration and marketing tools to strengthen customer relationships and expand their sales opportunities. In short, Salesforce helps its users increase their revenue and become much more efficient.
When examining Salesforce's revenue history, it's easy to see its products work. After a few years of working on its platform and attracting early adopters, Salesforce went public in June 2004. It finished its fiscal year ended Jan. 31, 2005 with $176 million in recurring software revenue. Seventeen years later, the company had grown its revenue 150-fold to $26.5 billion. That breathtaking top-line growth has done wonders for the stock.
Salesforce stock closed its first day of trading at a split-adjusted $4.30 per share. If you nabbed shares at that price and never sold them, your shares would've grown to $254.13 per share at the end of 2021, yielding you a return of about 5,800% over a period that included the Great Recession and COVID-19 bear markets.
For further details see:
1 Wall Street Analyst Says Salesforce Stock Will Soar 115%