![]() ![]() Those results were better than what Wall Street had expected. Speaking of quantifiable data, Slack recently reported its fiscal results for the first quarter of 2021. So, the results are already quantifiable. ![]() Reportedly, the integration with Slack improved Salesforce's Service Cloud case close rate by 26%. Salesforce CEO Marc Benioff recently asserted that the Slack acquisition will help Salesforce to become "a key leader in the future of work."īenioff is making a valid point here. That’s a lot of money to pay for Slack, but CRM’s shareholders are betting that Slack will be worth the cost. This deal, which was announced in late 2020, will be worth $27.7 billion. Within the next few months, Salesforce is expected to acquire Slack. The value of this type of tool is evident in the wake of the COVID-19 pandemic. Slack ( WORK) provides an online chat tool that facilitates communication between workers. So, CRM stock’s high price may be justified. Then again, price is what you pay and value is what you get. ![]() That’s another indicator that Salesforce stock isn’t cheap. Notably, CRM stock has a trailing 12-month price-to-earnings ratio of 44.54. Still, much of the damage was mitigated, with CRM stock trading near $246 on June 24. It’s difficult to sustain a vertical price move, though, so Salesforce stock was destined to cough up much of its gains.Ī virtual roller coaster ride ensued throughout the remainder of 2020 and into the first half of 2021. By early September, CRM stock reached a 52-week high of $284.50. The stock staged an impressive turnaround, however. ![]() In March of 2020, during the onset of the Covid-19 pandemic, CRM stock slid all the way down to the $130’s. Moreover, Salesforce’s imminent acquisition of a notable workplace communication tool will add even more shareholder value. CRM stock fits into that category, as cloud-based customer relationship management is an essential niche market as more businesses choose to digitize and automate. Sometimes, stocks are expensive because they’re making all the right moves and therefore have earned their share prices. Salesforce ( CRM) stock isn’t low in price, but that doesn’t mean it’s not a great value. An old Warren Buffett quote said that price is what you pay, but value it what you get. ![]()
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