In the latest trading session, Slack Technologies (WORK) closed at $30.35, marking a -1.91% move from the previous day. This move lagged the S&P 500's daily loss of 1.23%. At the same time, the Dow lost 1.31%, and the tech-heavy Nasdaq lost 2.29%.
Prior to today's trading, shares of the work messaging service had lost 3.22% over the past month. This has lagged the Business Services sector's gain of 4.29% and the S&P 500's gain of 5.2% in that time.
WORK will be looking to display strength as it nears its next earnings release. On that day, WORK is projected to report earnings of -$0.03 per share, which would represent 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. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. WORK is holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 146, putting it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Slack Technologies, Inc. (WORK) : Free Stock Analysis Report
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