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Slack Technologies (WORK) Outpaces Stock Market Gains: What You Should Know

Zacks Equity Research

In the latest trading session, Slack Technologies (WORK) closed at $20.98, marking a +0.67% move from the previous day. This change outpaced the S&P 500's 0.19% gain on the day. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq added 0.81%.

Coming into today, shares of the work messaging service had lost 8.32% in the past month. In that same time, the Business Services sector lost 2.38%, while the S&P 500 gained 0.56%.

WORK will be looking to display strength as it nears its next earnings release.

It is also important to note the recent changes to analyst estimates for WORK. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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 currently a Zacks Rank #2 (Buy).

The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 96, putting it in the top 38% 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.


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