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Slack Technologies (WORK) Gains But Lags Market: What You Should Know

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Zacks Equity Research
·2 min read
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In the latest trading session, Slack Technologies (WORK) closed at $43.69, marking a +0.28% move from the previous day. This move lagged the S&P 500's daily gain of 0.47%. Elsewhere, the Dow gained 0.09%, while the tech-heavy Nasdaq added 0.5%.

Heading into today, shares of the work messaging service had gained 3.94% over the past month, outpacing the Business Services sector's gain of 2.91% and the S&P 500's gain of 3.18% in that time.

WORK will be looking to display strength as it nears its next earnings release. In that report, analysts expect WORK to post earnings of -$0.04 per share. This would mark no growth from the year-ago period. Our most recent consensus estimate is calling for quarterly revenue of $238.68 million, up 31.21% from the year-ago period.

Investors might also notice recent changes to analyst estimates for WORK. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.87% higher. WORK is currently sporting a Zacks Rank of #3 (Hold).

The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 196, which puts it in the bottom 24% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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