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CRM

Salesforce

$246.75 /

-13.96 (-5.35%)

, WORK

Slack Technologies

$40.71 /

+11.14 (+37.67%)

07:21
11/27/20
11/27
07:21
11/27/20
07:21

Needham 'not enamored' with potential Salesforce acquisition of Slack

Needham analyst Scott Berg says that while much of the Street will likely applaud Salesforce's (CRM) potential acquisition of Slack Technologies (WORK) because it could accelerate revenue growth over the long term, he's more cautious on what would be Salesforce's first big transaction outside of its customer-centric core platform of sales, marketing, and service. The deal would be less sales synergistic than something in the middle office would have been, Berg tells investors in a research note. Further, the acquisition, if completed, would push off additional margin expansion for Salesforce into fiscal 2023 at the earliest, "which does not counter the bear thesis," contends the analyst. Berg keeps a Hold rating on Salesforce saying he's "not enamored with this potential deal."

CRM

Salesforce

$246.75 /

-13.96 (-5.35%)

WORK

Slack Technologies

$40.71 /

+11.14 (+37.67%)

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CRM Salesforce
$246.75 /

-13.96 (-5.35%)

11/25/20 Goldman Sachs
Goldman says Salesforce potential deal for Slack 'may have strategic merit'
11/25/20 Stifel
Stifel says Salesforce for Slack at $20B would be 'expensive,' but 'digestible'
11/25/20 BMO Capital
Salesforce price target raised to $285 from $260 at BMO Capital
11/23/20 KeyBanc
Salesforce initiated with an Overweight at KeyBanc
WORK Slack Technologies
$40.71 /

+11.14 (+37.67%)

11/23/20 KeyBanc
Slack Technologies initiated with a Sector Weight at KeyBanc
11/23/20 KeyBanc
Slack Technologies initiated with a Sector Weight at KeyBanc

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