Better Buy: Adobe vs. Slack
Both Adobe (NASDAQ: ADBE) and Slack (NYSE: WORK) have benefited from pandemic-driven digitization, and each has outperformed the broader market over the last 12 months. But while Adobe is up 33%, shares of Slack have surged 69%.
However, in December 2020, salesforce.com (NYSE: CRM) announced that it will acquire the collaboration specialist, though the deal isn't expected to close for another few months. That makes this showdown a little more complex (and interesting). So which one is the better buy today?
Adobe's business focuses on three strategic growth areas: digital documents, creativity, and customer experience. Given the global push toward digital solutions, management estimates the company's market opportunity will reach $147 billion by 2023.