CRM
Salesforce, Inc.
stock NYSE

Common INTU, ADBE, NOW, CRM, MSFT

CRM, Cme and Hrl
Three different fields

Same here with INTU, ADBE, NOW, CRM, MSFT, etc

CRM is insane value right now, its got to rip up when this reverses

Microsoft Dynamics has been on the market for decades now. It's got its niche but not really challenging Salesforce. Microsoft is so huge that it's main focus and cash cows will always be Windows, Office, and Azure. CRM at Microsoft will never get the attention it needs to compete and dominate.
It's like saying Google could dominate or challenge AWS or Azure for cloud services. It could, in that certainly Google has the technical skills and infrastructure to do it. But it doesn't, because AdWords makes so much more money and so much more easily. Internally, the GCP team doesn't have the influence and mindshare.
Within Microsoft, CRM will always be secondary. Whereas for Salesforce the corporation, CRM is the primary focus.

Hopefully all software stocks: INTU, ADBE, CRM, META, MSFT, NOW, eyc

Yes please, look at the rules, if it’s not ADBE, NOW, MSFT, CRM, LULU, then it’s not allowed to be posted. Only post falling knives and dying companies, don’t disrespect the sub.

These are good points, I've considered all of them and concluded none will affect the investment thesis. First current Adobe CEO is not leaving as he will stay as chair to mentor the transition. CFO left for a chip company, which makes a lot of career sense considering his background in semiconductor and likely much higher pay. Freemium model is a normal practice in consumer software industry to attract users and defend against competitions. Adobe does face more competition these days, but it's not the first time, and they have the best resources and ecosystem to win.
ARR is deccelerating sure, at 1% decline in growth rate, assuming worst case scenario and 0 of their strategies worked, you are looking at a 0 growth business after 10 years. The stock is now trading at 10 PE, which means after 10 years, investors would have already earned all their money back, and still left with a profitable high margin software business. I'm perfectly ok with an outcome like this. I personally think there are very good odds that some of their strategies will work (new AI products, freemium) and can maintain growth rate at high single digits, if this happens you are looking at 25-30% annual return stock for the next 10 years.
Regarding opportunity cost, my definition of it is if my shares are not generating as much per share free cashflow (or EPS depending on the business) over time compared to other investment opportunities. I see Adobe and some other SaaS names (CRM, CSU) as the best opportunity now to generate the most amount of profits per share in the next 10 years. Note sock price has no place in my decision, except providing a low buying price for me to start a position.

For small and mid-sized companies, maybe. But the reason many companies go to products like NOW or CRM is that it provides a familiar framework for how to manage business processes and business continuity. If an IT support person leaves the company, it’s easier to replace them with another person trained in the same platform.
The problem with custom and vibe coded apps is that it can take months for a new developer to learn the codebase and become a productive contributor. From a turnover and business continuity standpoint, that’s a risky expense and can slow down business support and innovation. When you’re dealing in large companies at scale, I still believe platforms like NOW and CRM are the right tools.

... maintenance, performance, support, stability, integration into new/existing tech stacks with API calls.
Like you could build a simple CRM/trello using Google Sheets but, once you get into an enterprise production route maintaining and supporting this shit at scale ain't worth the time and effort to scale it up...
Like, with that same vein why haven't most business use Linux (outside of servers)

I’ve been averaging into $CRM shares. The narrative around these stocks is so overblown and AI is a massive bubble that will pop. Salesforce is the largest CRM by a mile and it’s not going anywhere. The fundamentals are good and it’s incredibly cheap right now.

Holding CRM

CRM and NOW are doing great? A stock being down isnt “suffering” that’s markets being afraid, which these companies have no power over. A few weeks ago when NOW skyrocketed 30% the sector wasn’t suffering?

CRM looking cheap. Gonna start loading up

In my opinion, Klaviyo has been unfairly bucketed with the rest of SaaS which has created a massive and generational buying opportunity. For Klaviyo, the AI disruption is not only wrong, but it actually is the opposite. This company will and already does benefit massively from AI adoption and advancement. This from both a platform level and pricing level.
Company: Klaviyo
Ticker: KVYO
Market cap: $4 billion USD
Current Stock Price: Roughly $13.25. Was trading between $25-35 most of 2025 before SaaS got hammered. Hit a high of $50 or so
2025 revenue: Roughly $1.2 billion
2026 revenue guidance: Roughly $1.55 billion
Misc: Nearly $1 billion in cash and effectively 0 debt
What is Klaviyo? They are an AI-powered B2C CRM and marketing automation platform. It helps businesses grow by unifying customer data and automating highly personalized messages across email, SMS, WhatsApp, and mobile push notifications. They are the go-to communication platform for any brand that cares about knowing their customers and making money. They have an absolute stranglehold in the Shopify space. 
But wait? A CRM and email/sms platform can just be vibe coded! Well yes, but you can’t just make up the underlying customer data. Also, there is no world where you negotiate better email/sms rates for yourself. Even if somehow you did, your delivery, open rates, conversion, etc would be absolute DOG SHIT and cost you thousands to millions in revenue every year (or month, depending on the brand). 
What Klaviyo truly is under the surface is a customer database with 8 BILLION customer profiles (collected over their 13 years of existence) and process billions of events every single day. All 1st party data.
Some examples of the data include:
\\- purchase history
\\- product interactions
\\- website behaviour
\\- customer lifetime value data
\\- commerce intent data
\\- customer profiles
Access to this data is what allows a brand to know when to send a message, to whom, and with what content. The platform is fundamentally a customer database connected directly to commerce activity. 
This advantage allows Klaviyo to beat any random AI native email platform that has no customer data to work off. A few points below I give a concrete example comparing Klaviyo to some vibe coded garbage.
Oh, and they have always billed on usage, NOT on seats. So ai workflow adoption improve within the platform, the more they can bill.
Now let me break down the key themes as to why klaviyo is undervalued IMO:
1. Current valuation disconnect 
\\- Klaviyo trades at a materially lower revenue multiple than many SaaS peers despite growth being comparable or better. They currently sit at less than a 3x rev multiple 
\\- Rule of 40: Revenue growth remains among the strongest in public SaaS, even with the sandbagged guidance
\\- Recently crossed into meaningful profitability and maintain strong margins. Non gaap operating margins at roughly 14-15%, while gross margins are at 75%
2. Management Has a History of Sandbagging
Consistently guided conservatively and then materially beat expectations over the past two years. They have only been public since late 2023
In 2024 they guided around 27% revenue growth but then finished the year at 34% revenue growth, while in 2025 they guided 23% and then finished with 32%. This year they guided 21% initially and already raised to 22%.
Q1 results (28% growth) is additional evidence that current guidance may again prove conservative. Just by the math alone there seems to be almost no way that growth will be under 25% over the year. The business would have to fall flat on its face for that to happen.
Management explicitly stated that revenue from their new Customer Agent tool contributions were not fully reflected in guidance. They stated that eventually they see this new tool being as big or BIGGER than their current marketing offerings. Customer agent is a chatbot + helpdesk offering that also sits on top of their dense customer data layer. 
My guess is that they will end the year between 25-30% revenue growth
3a. AI Is an accelerator not a disrupter 
Klaviyo owns one of the largest collections of first-party commerce data in the industry 
An AI-generated marketing campaign is only as good as the customer data feeding it.
AI can generate emails. AI cannot magically recreate years of purchase history, browsing behavior, customer profiles, and attribution data. AI would still need to answer to questions like:
\\- which customer should receive this message?
\\- which customer is likely to churn?
\\- which customer will buy again?
\\- which customer is high ltv?
But Klaviyo CAN answer those. So the better AI gets, the more valuable the underlying data becomes
I want to explain the stark difference comparing Klaviyo to some vibe coded copycat in a real life example. The idea here is  predicting who will buy
Let’s say a merchant has 500k customers and wants to know: Who is most likely to purchase in the next 30 days?
The vibe coded klaviyo knows:
\\- Last site visit
\\- Last purchase
\\- Email opens
= can make a decent prediction.
Klaviyo instead learned from:
\\- Millions of similar stores
\\- Billions of purchase events
\\- Historical customer journeys
Klaviyo knows that:
\\- Customers who buy Product A and revisit within 7 days convert 3.4x more often
\\- Customers who stop opening emails after 45 days have an 80% higher churn risk
\\- Customers exhibiting Pattern X respond better to SMS than email
These improvements in prediction accuracy create enormous ROI.
Now lets look at a revenue example for a brand that generates:
\\- $10 million annual revenue.
\\- current email marketing revenue at $3 million.
..If better targeting increases conversion rates by only 10%:
$3M × 10% = $300,000 additional revenue.
If Klaviyo charges $30,000-$50,000 annually, the ROI is obvious.
3b. They have AI products in the pipeline:
The first is one already in market called Service Agent. This is a helpsesk + virtual assistant for brands. Klaviyo CFO claimed this could be as big or BIGGER than their existing marketing platform offering.
The second one is still in beta and is an internal agent that allows users to prompt the creation of campaigns, instead of building them manually. As you can imagine, since they bill on usage, this will allow them to generate more $.
4. Enterprise Expansion Is crushing
Historically viewed as SMB and midmarket-focused, but enterprise adoption continues accelerating.
In q1 they reported 38%YoY growth in their enterprise segment
They hired former Workday CEO to co-CEO with the current CEO/founder to help accelerate this further. The recent CRO hire also comes from Workday. If you don’t know anything about Workday, they are enterprise focused completely
They are also expanding aggressively and successfully in Europe
5. NRR is crushing at 110%
6. Shopify Relationship
\\- Deep integration with Shopify ecosystem.
\\- Shopify has a 5% stake in Klaviyo
\\- Many bears use Shopify as a bear case and that Klaviyo is too deeply reliant… if you know anything about this space, you know that Shopify absolutely benefits from a growing and successful Klaviyo. There is no world where they can make their own version of Klaviyo and have it be anywhere near as good. Also, why nuke your own investment? It is more likely that Shopify outright buys Klaviyo one day IMO
7. Founder-Led Company
Founders are still heavily involved with significant ownership. Andrew Bialecki is the co-founder and now holds a co-CEO title along with the new ex Workday CEO, Chano. Andrew is focusing on the AI side while Chano focused on enterprise penetration
8. Klaviyo recently authorized a $500 million share repurchase program, including an immediate $100 million accelerated share repurchase.  
At announcement, the authorization represented roughly 9-10% of market capitalization 
TLDR:
The market is valuing Klaviyo like a generic SaaS company that AI will commoditize, while the reality is that it is becoming a profitable, enterprise-focused, first-party commerce data platform whose moat actually strengthen as AI takes over.
Imo this is a good opportunity to get into a stock that will rebound to its 2025 trading levels and continue to grow 4-10x from here longterm.
I personally have over 15,000 shares.
Finally, this is not financial advice. Do your own research and buy at your own risk. My posts here are for entertainment purposes only.

CRM is not ERP

In my opinion, Klaviyo has been unfairly bucketed with the rest of SaaS which has created a massive and generational buying opportunity. For Klaviyo, the AI disruption is not only wrong, but it actually is the opposite. This company will and already does benefit massively from AI adoption and advancement. This from both a platform level and pricing level.
Company: Klaviyo
Ticker: KVYO
Market cap: $4 billion USD
Current Stock Price: Roughly $13.25. Was trading between $25-35 most of 2025 before SaaS got hammered. Hit a high of $50 or so
2025 revenue: Roughly $1.2 billion
2026 revenue guidance: Roughly $1.55 billion
Misc: Nearly $1 billion in cash and effectively 0 debt
What is Klaviyo? They are an AI-powered B2C CRM and marketing automation platform. It helps businesses grow by unifying customer data and automating highly personalized messages across email, SMS, WhatsApp, and mobile push notifications. They are the go-to communication platform for any brand that cares about knowing their customers and making money. They have an absolute stranglehold in the Shopify space. 
But wait? A CRM and email/sms platform can just be vibe coded! Well yes, but you can’t just make up the underlying customer data. Also, there is no world where you negotiate better email/sms rates for yourself. Even if somehow you did, your delivery, open rates, conversion, etc would be absolute DOG SHIT and cost you thousands to millions in revenue every year (or month, depending on the brand). 
What Klaviyo truly is under the surface is a customer database with 8 BILLION customer profiles (collected over their 13 years of existence) and process billions of events every single day. All 1st party data.
Some examples of the data include:
\- purchase history
\- product interactions
\- website behaviour
\- customer lifetime value data
\- commerce intent data
\- customer profiles
Access to this data is what allows a brand to know when to send a message, to whom, and with what content. The platform is fundamentally a customer database connected directly to commerce activity. 
This advantage allows Klaviyo to beat any random AI native email platform that has no customer data to work off. A few points below I give a concrete example comparing Klaviyo to some vibe coded garbage.
Oh, and they have always billed on usage, NOT on seats. So ai workflow adoption improve within the platform, the more they can bill.
Now let me break down the key themes as to why klaviyo is undervalued IMO:
1. Current valuation disconnect 
\- Klaviyo trades at a materially lower revenue multiple than many SaaS peers despite growth being comparable or better. They currently sit at less than a 3x rev multiple 
\- Rule of 40: Revenue growth remains among the strongest in public SaaS, even with the sandbagged guidance
\- Recently crossed into meaningful profitability and maintain strong margins. Non gaap operating margins at roughly 14-15%, while gross margins are at 75%
2. Management Has a History of Sandbagging
Consistently guided conservatively and then materially beat expectations over the past two years. They have only been public since late 2023
In 2024 they guided around 27% revenue growth but then finished the year at 34% revenue growth, while in 2025 they guided 23% and then finished with 32%. This year they guided 21% initially and already raised to 22%.
Q1 results (28% growth) is additional evidence that current guidance may again prove conservative. Just by the math alone there seems to be almost no way that growth will be under 25% over the year. The business would have to fall flat on its face for that to happen.
Management explicitly stated that revenue from their new Customer Agent tool contributions were not fully reflected in guidance. They stated that eventually they see this new tool being as big or BIGGER than their current marketing offerings. Customer agent is a chatbot + helpdesk offering that also sits on top of their dense customer data layer. 
My guess is that they will end the year between 25-30% revenue growth
3a. AI Is an accelerator not a disrupter 
Klaviyo owns one of the largest collections of first-party commerce data in the industry 
An AI-generated marketing campaign is only as good as the customer data feeding it.
AI can generate emails. AI cannot magically recreate years of purchase history, browsing behavior, customer profiles, and attribution data. AI would still need to answer to questions like:
\- which customer should receive this message?
\- which customer is likely to churn?
\- which customer will buy again?
\- which customer is high ltv?
But Klaviyo CAN answer those. So the better AI gets, the more valuable the underlying data becomes
I want to explain the stark difference comparing Klaviyo to some vibe coded copycat in a real life example. The idea here is  predicting who will buy
Let’s say a merchant has 500k customers and wants to know: Who is most likely to purchase in the next 30 days?
The vibe coded klaviyo knows:
\- Last site visit
\- Last purchase
\- Email opens
= can make a decent prediction.
Klaviyo instead learned from:
\- Millions of similar stores
\- Billions of purchase events
\- Historical customer journeys
Klaviyo knows that:
\- Customers who buy Product A and revisit within 7 days convert 3.4x more often
\- Customers who stop opening emails after 45 days have an 80% higher churn risk
\- Customers exhibiting Pattern X respond better to SMS than email
These improvements in prediction accuracy create enormous ROI.
Now lets look at a revenue example for a brand that generates:
\- $10 million annual revenue.
\- current email marketing revenue at $3 million.
..If better targeting increases conversion rates by only 10%:
$3M × 10% = $300,000 additional revenue.
If Klaviyo charges $30,000-$50,000 annually, the ROI is obvious.
3b. They have AI products in the pipeline:
The first is one already in market called Service Agent. This is a helpsesk + virtual assistant for brands. Klaviyo CFO claimed this could be as big or BIGGER than their existing marketing platform offering.
The second one is still in beta and is an internal agent that allows users to prompt the creation of campaigns, instead of building them manually. As you can imagine, since they bill on usage, this will allow them to generate more $.
4. Enterprise Expansion Is crushing
Historically viewed as SMB and midmarket-focused, but enterprise adoption continues accelerating.
In q1 they reported 38%YoY growth in their enterprise segment
They hired former Workday CEO to co-CEO with the current CEO/founder to help accelerate this further. The recent CRO hire also comes from Workday. If you don’t know anything about Workday, they are enterprise focused completely
They are also expanding aggressively and successfully in Europe
5. NRR is crushing at 110%
6. Shopify Relationship
\- Deep integration with Shopify ecosystem.
\- Shopify has a 5% stake in Klaviyo
\- Many bears use Shopify as a bear case and that Klaviyo is too deeply reliant… if you know anything about this space, you know that Shopify absolutely benefits from a growing and successful Klaviyo. There is no world where they can make their own version of Klaviyo and have it be anywhere near as good. Also, why nuke your own investment? It is more likely that Shopify outright buys Klaviyo one day IMO
7. Founder-Led Company
Founders are still heavily involved with significant ownership. Andrew Bialecki is the co-founder and now holds a co-CEO title along with the new ex Workday CEO, Chano. Andrew is focusing on the AI side while Chano focused on enterprise penetration
8. Klaviyo recently authorized a $500 million share repurchase program, including an immediate $100 million accelerated share repurchase.  
At announcement, the authorization represented roughly 9-10% of market capitalization 
TLDR:
The market is valuing Klaviyo like a generic SaaS company that AI will commoditize, while the reality is that it is becoming a profitable, enterprise-focused, first-party commerce data platform whose moat actually strengthen as AI takes over.
Imo this is a good opportunity to get into a stock that will rebound to its 2025 trading levels and continue to grow 4-10x from here longterm.
I personally have over 15,000 shares.
Finally, this is not financial advice. Do your own research and buy at your own risk. My posts here are for entertainment purposes only.

ACN, ADBE and CRM just to name a few.

It really depends on the SaaS company we're talking about. Some of their moat are just not possible to be damaged with AI alone.
If you know how AI power the software engineering, you would know that it doesn't really make one engineer become 100-man army suddenly. It just makes their output much faster.
I haven't really seen any agentic automation that can make a engineer do that either. It's most just taking away load that can afford being non-deterministic.
To catch up with the existing big players' scales, you can't possibly rely on AI only. The maintenance on infrastructure alone would kill any team with human power 1/100 of the whale they're trying to take down. And we haven't started talking about client support and relationship.
Also if there is any expert who knows the best to utilize AI to level up the game, it's still these companies.
I'd admit some SaaS are bloated but I doubt most public SaaS are that bloated. Pretty much every tech right now is experiencing extreme burn out.
For example I just can't imagine a 100-people team like you said suddenly take CRM or Snowflake's pies away. However companies like Asana, it's indeed dangerous for them.

MSFT and ORCL have a low FCF yields because they are spending billions on growth capex for AI. Their core businesses are still highly profitable for now and at least they have a growth plan, whether it pays off or not is a reason we have markets. ADBE, INTU, and CRM could be a value trap because they don’t have a believable growth story and their core business moats are disappearing.