Crm stock forecast long-term CRM stock forecast sees 15%

Long-term CRM stock forecast sees 15% annualized returns over the next three years as Salesforce capitalizes on digital transformation trends in global enterprises. Coming to CRM’s business segments, revenues from Subscription and Support (94.8% of total revenues) increased 11% year over year to $9.7 billion. Professional Services and Other (5.2% of total sales) revenues declined 3% to $546 million. Our estimates for Subscription and Support, and Professional Services and Other segments’ revenues were pegged at $9.6 billion and $546 million, respectively. Why it matters: Subscriptions were ahead of our model, while services were in line. Data cloud and artificial intelligence annual recurring revenue of $1.2 billion was up 120% year over year. For the second straight quarter, management was positive on strength in small business customers. Wall Street’s CRM stock forecast upgrades are driven by cross-selling synergies between Slack and Salesforce’s core CRM solutions, expanding total addressable market.