![]() From those 16 analysts, 14 rated “Buy”, two rated “Hold” and none rated “Sell”, according to Tipranks. The average price target represents an 18.39% increase from the last price of $246.82. Sixteen equity analysts forecast the average price in 12 months at $292.20 with a high forecast of $325.00 and a low forecast of $234.00. However, the stock is up over 50% so far this year. ’s shares closed 5.37% lower at $246.82 on Wednesday. For now, we are maintaining our fair value estimates of $253 for Salesforce and $20 for Slack,” Morningstar’s Romanoff. However, it would be smaller than Salesforces’ June 2019 Tableau deal announcement in terms of percentage of market cap, with Slack currently at 9% of Salesforce’s market cap, compared with 13% for the Tableau deal. With Slack’s market cap at $21 billion now, the deal would likely be the largest ever for Salesforce in terms of dollars. “The reports have sent shares of Slack up more than 20% intraday while weighing on Salesforce shares by approximately 3%. We stress that no deal has been formally announced, so obviously, there are no deal metrics to consider,” said Dan Romanoff, equity analyst Morningstar. “Strategically, this would be a sound acquisition for Salesforce, as it would add serious direct exposure to collaboration and the remote work movement, large and rapidly growing markets that the company indirectly participates in, and would allow for yet another connection between Salesforce and its customers. Inc, an American cloud-based software company headquartered in San Francisco, is in advance talks to buy workplace messaging application Slack Technologies, according to the Wall Street Journal.
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