Slack (NYSE: WORK) recently announced its Q2 results and its share price dropped as much as 15% due to higher-than-expected loss guidance. Despite all the negative headlines, I believe that Slack is a wonderful business with growing competitive advantages. However, its current price is slightly too expensive and one should wait before building a full position in Slack.
(Source: Google)
The enterprise collaboration market was valued at $32B in 2018 and is expected to grow at a rate of 10.7% over the next 5 years. As Slack's YTD revenue is roughly $450M, it only