Salesforce: Jefferies remains Buy on the stock

(CercleFinance.com) - Jefferies reiterates its Buy recommendation on the stock and its $350 price target following the announcement of an acquisition.


The group has announced its agreement to acquire d'Own Company, a specialist in data management and protection, for around $1.9 billion in cash.

The group is also expected to generate around $12 billion in FCF in fiscal 2025, leaving sufficient capital for buybacks, dividends and add-on acquisitions," says the analyst firm.

Although the deal is the largest since Slack, it is not expected to have a material impact on financials in fiscal 2025' adds Jefferies.

Own Company's portfolio is expected to consolidate its existing range in data backup (Salesforce Backup), encryption (Shield) and protection of additional data types (Data Mask).

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