A strong performer for most of the year, shares of salesforce.com (CRM, Financial) in the fourth quarter were weighed down by its acquisition of messaging service Slack for a price that drew concern from some investors. While the market responded negatively to the price salesforce.com paid—especially on the heels of its 2019 acquisition of analytics platform Tableau—the company has continued to execute on its strategy and has evolved over the past several years into the dominant player in customer relationship management.
From First Eagle Investment (Trades, Portfolio)'s Global Value Team's fourth-quarter 2020 commentary.
