Slack Technologies (WORK) closed at $27.61 in the latest trading session, marking a -1.81% move from the prior day. This move lagged the S&P 500’s daily loss of 0.8%. At the same time, the Dow lost 0.38%, and the tech-heavy Nasdaq lost 1.69%.
Coming into today, shares of the work messaging service had lost 15.86% in the past month. In that same time, the Business Services sector gained 4.24%, while the S&P 500 gained 5.66%.
Investors will be hoping for strength from WORK as it approaches its next earnings release, which is expected to be September 8, 2020. In that report, analysts expect WORK to post earnings of -$0.03 per share. This would mark year-over-year growth of 78.57%. Meanwhile, our latest consensus estimate is calling for revenue of $208.33 million, up 43.71% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.16 per share and revenue of $866.86 million. These totals would mark changes of +42.86% and +37.51%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for WORK. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. WORK is currently a Zacks Rank #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 163, putting it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Slack Technologies, Inc. (WORK): Free Stock Analysis Report
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