Cloud-based software company Salesforce (CRM) recently announced that it has added new features to its Slack-First Customer 360 platform to make activities related to sales, service, marketing and analytics more efficient.
Following the news, shares of the company declined marginally in Tuesday’s trading session. It added to its losses slightly and closed at $246.50 in extended trade.
The new features are named Slack-First Sales, Slack-First Service, Slack-First Marketing and Slack-First Analytics.
The COO of Salesforce, Bret Taylor, said, “Salesforce and Slack are creating the digital HQ to help every company get back to growth in today’s digital-first, work anywhere world. This is just the beginning for the Slack-First Customer 360—which will fundamentally reshape how work gets done by connecting employees, customers, and partners and the apps they use on a single platform.” (See Salesforce stock chart on TipRanks)
On August 16, Monness analyst Brian White reiterated a Buy rating on the stock with a price target of $290, which implies 17.4% upside potential from current levels.
Consensus among analysts is a Strong Buy based on 22 Buys and 5 Holds. The average Salesforce price target of $279.23 implies 13.1% upside potential from current levels.
Salesforce scores a 7 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock is likely to perform in line with market expectations. Shares have gained 21.1% over the past year.
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