What happened Shares of salesforce.com (NYSE: CRM) fell 8.9% on Wednesday after the cloud computing leader announced a blockbuster acquisition alongside its fiscal 2021 third-quarter results. So what Salesforce's revenue jumped 20% year over year to $5.42 billion, besting Wall Street's expectations for revenue of $5.25 billion. The software giant also delivered strong profit growth; its adjusted operating income climbed 23% to $1.1 billion. The coronavirus pandemic is driving more companies to adopt work-from-home arrangements and distributed workforces, which in turn is accelerating their shift to the cloud. "We're rapidly moving to an all-digital world, where work happens wherever people are," CEO Marc Benioff said in a press release. Despite posting solid Q3 results, Salesforce's stock fell sharply on Wednesday. Image source: Getty Images. Investors, however, focused more on Salesforce's plans to purchase Slack Technologies (NYSE: WORK). It agreed to buy the workplace collaboration platform for a staggering $27.7 billion in cash and stock. Now what Benioff called the deal a "match made in heaven." He envisions combining Slack's messaging tools with Salesforce's ecosystem of software solutions to create "the operating system for the new way to work." "Together, Salesforce and Slack will shape the future of enterprise software and transform the way everyone works in the all-digital, work-from-anywhere world," Benioff said. Investors, however, seem less excited about the combination, particularly when factoring in the massive price Salesforce is paying. Citi analyst Walter Pritchard lowered his rating on Salesforce's stock on Wednesday from buy to neutral and reduced his price forecast from $300 to $250. Pritchard said the deal's $27.7 billion price tag makes it "challenging to see a positive return." 10 stocks we like better than Salesforce.comWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Salesforce.com wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Salesforce.com and Slack Technologies. The Motley Fool has a disclosure policy.Source