The social-media service popular among Trump backers was taken offline after several vendors it relied on to operate ceased providing support, saying the service violated their content-moderation rules.
Salesforce (CRM), alas, might not be the best way to play it.
Piper Sandler analyst Brent Bracelin on Monday cut his rating on Salesforce to Neutral from Overweight, while keeping his $242 price target.
His view is that this “hungry hippo” needs time to digest two of its largest acquisitions: the $15.7 billion deal for Tableau in 2019 and the pending $27.7 billion takeover of
Slack Technologies (WORK). He notes that the amount of stock issued in the two deals combined increases the number of shares outstanding by 194 million or about 24% of the total outstanding before the Tableau deal. He thinks that all the extra stock creates “a more challenging setup” for Salesforce in 2021.