Slack Technologies Inc. (WORK) Fundamentals Acclerate, Jefferies Reiterates Buy
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Jefferies analyst Brent Thill reiterated a Buy rating and $320.00 price target on Slack Technologies Inc. (NYSE: WORK) after the company added a record 14K net new paid customers in F4Q21 customers (the highest net new paid adds to date). Net new paid customer growth accelerated to 42% vs. 35% last
quarter. Billings growth accelerated as well to 41% sequentially from 36%.
The analyst stated "We believe these metrics show that WORK is a best in class collaboration asset that will continue to see the demand acceleration grow under the Salesforce umbrella. We think there is more than enough room in the collaboration space for a two horse race — MSFT & Salesforce (NYSE: CRM)."
Shares of Slack Technologies Inc. closed at $39.69 yesterday.
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