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One of the best-performing IPOs of 2020 was SaaS company C3.ai Inc (NASDAQ: AI). The stock priced at $42, above its initial range of $30 to $33, and closed at $161 in their first week of trading. Growth Ahead: C3.ai is called a disruptive enterprise software vendor by Wedbush analyst Daniel... Read More...
Salesforce.com (NYSE: CRM) from Overweight to Neutral and lowered the price target from $278 to $242. Salesforce has invested over $43 billion in two acquisitions in less than two years, the analyst said. The $15.7 billion for Tableau and $27.7 billion for Slack Technologies (NYSE: WORK) add up to 194 million fully diluted shares since July 2019, he said. “This overhang creates a more challenging set-up for CRM during 2021,” said Bracelin. Salesforce is a “hungry hippo” that needs time to digest the acquisitions, the analyst said, adding that he will revisit the rating and price ...