Salesforce.com (CRM) - Stock Pitch

At 4.32 PEG and 449 P/E.........is Salesforce.com (CRM) overpriced?? Noted as being the king of cloud computing, the price of the stock will rise as most hardware and software move off company premises into a cloud environment. The company have given better than expected guidance for the year and has enough cash on hand to pay off all the debt. 

- Saliq