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Friday, July 17, 2020 1:40:33 PM
FBN starts Slack at Outperform and a Street-high $45 price target.
Seyrafi says the market has room for both collaboration offerings to "thrive" and notes Slack's "healthy" growth in paid customers and ARPU last quarter.
The analyst sees "good upside" in Slack shares due to the revenue multiple, and the fact that Slack hasn't rallied as much as other remote work-related stocks.
Slack shares are up 1.1% pre-market to $31.94. WORK shares are up 41% YTD compared to Zoom Video's 265% growth.
https://seekingalpha.com/news/3592233-slack-gets-street-high-target-on-overblown-teams-competition
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