U.S. Markets closed

Slack Technologies (WORK) Gains As Market Dips: What You Should Know

Zacks Equity Research

Slack Technologies (WORK) closed the most recent trading day at $31.64, moving +0.93% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.78%. At the same time, the Dow lost 0.41%, and the tech-heavy Nasdaq lost 0.97%.

Wall Street will be looking for positivity from WORK as it approaches its next earnings report date. This is expected to be June 4, 2020. On that day, WORK is projected to report earnings of -$0.07 per share, which would represent year-over-year growth of 73.08%. Meanwhile, our latest consensus estimate is calling for revenue of $186.54 million, up 38.36% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.21 per share and revenue of $856.32 million, which would represent changes of +25% and +35.83%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for WORK. These recent revisions tend to reflect the evolving nature of short-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.

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. Within the past 30 days, our consensus EPS projection has moved 0.41% higher. WORK is holding a Zacks Rank of #2 (Buy) right now.

The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 63, putting it in the top 25% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Slack Technologies, Inc. (WORK) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.