Salesforce's stock might initially look pricey at 74 times earnings estimates and 12 times sales, but it's actually cheaper than many of its high-growth cloud industry peers. Moreover, Salesforce's dominance of the CRM market, its expanding ecosystem, and its ability to thrive throughout the pandemic and profit from the ongoing digitization of businesses all justify its higher valuation. In other words, Salesforce's stock could still have plenty of upside potential.