Salesforce has had one acquisition after the other this year. The company also reported solid quarter results on November 17th.
CEO Marc Benioff commented during the company’s earnings call and said he wanted to double the company within the next three to four years.
Cowen & Co. analyst Derrick Wood believes this is possible and wrote in a note earlier this week that he doesn’t think the company needs to go on another binge buying spree to achieve the results.
Instead, Wood believes the growing market share across the company’s products is enough to help Benioff achieve his goal.
According to Wood, he sees Salesforce’s Sales Cloud, its largest product, dropping just 1% in market share to 44% in 2020, while Service Cloud, Commerce Cloud, and App Cloud all seeing strong growths in the period.
Wood anticipates that Salesforce will generate $17 billion in revenue by 2020.
“Salesforce remains the dominating vendor in the space, much like Oracle in the Database market, SAP in the ERP market and Microsoft in the Operating Systems market.”
Disclaimer: We have no position in salesforce.com (NYSE: CRM) and have not been compensated for this article.