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CRM - Salesforce.Com Inc News Story

$230.56 2.6  1.1%

Last Trade - 21/04/21

Sector
Technology
Size
Large Cap
Market Cap £152.45bn
Enterprise Value £145.87bn
Revenue £15.26bn
Position in Universe 45th / 6852

BUZZ-Street View: Slack dilution to create better entry point for Salesforce

Fri 26th February, 2021 12:12pm
** Salesforce.com Inc  CRM.N  on Thursday forecast FY profit
figures below market expectations but reported Q4 revenue of
$5.82 bln, above analysts' estimates  urn:newsml:reuters.com:*:nL4N2KV5BB
    ** Shares down 3.4% at $223.3 in premarket trading
    
    SLACK IS THE DEAL HERE
    ** Piper Sandler ("neutral", $240) says FY 2022 could be
challenging for co's shares, given dilution from Slack
Technologies  WORK.N  deal and little to no margin improvement
    ** Brokerage remains bullish on co's ability to capitalize
on digital tailwinds
    ** Oppenheimer ("outperform", PT: $265) believes CRM shares
are likely to remain range-bound over near term and until it can
close Slack deal
    ** FY 2022 will be a year of co delivering on or exceeding
expectations - brokerage
    ** Canaccord Genuity ("buy", PT: $270) says investors are
viewing CRM through "glass half empty" lens; adds that in fact,
co's growth and outlook figures are good, given its integration
of much lower margin Slack
    ** ... it's likely to take another couple of qtrs for
investors to buy into the idea that fundamentals are actually
quite solid here, and that Slack was opportunistic" - Canaccord
Genuity 
    ** Morningstar (fair value: $265) says co's flat operating
margin outlook compared to FY 2021 is constructive given
headwind from Slack acquisitions

 (Reporting by Tapanjana Rudra)
 ((Tapanjana.Rudra@thomsonreuters.com;))
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