Slack Technologies (WORK) Stock Sinks As Market Gains: What You Should Know
Slack Technologies (WORK) closed at $26.22 in the latest trading session, marking a -0.91% move from the prior day. This move lagged the S&P 500's daily gain of 2.29%. Elsewhere, the Dow gained 1.99%, while the tech-heavy Nasdaq added 2.81%.
Coming into today, shares of the work messaging service had gained 1.97% in the past month. In that same time, the Business Services sector gained 12.86%, while the S&P 500 gained 19.13%.
WORK will be looking to display strength as it nears its next earnings release. In that report, analysts expect WORK to post earnings of -$0.07 per share. This would mark year-over-year growth of 73.08%. Our most recent consensus estimate is calling for quarterly revenue of $186.54 million, up 38.36% from the year-ago period.
WORK's full-year Zacks Consensus Estimates are calling for earnings of -$0.22 per share and revenue of $851.22 million. These results would represent year-over-year changes of +21.43% and +35.02%, respectively.
Any recent changes to analyst estimates for WORK should also be noted by investors. These revisions help to show the ever-changing nature of near-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, 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. Within the past 30 days, our consensus EPS projection has moved 6.55% lower. 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 68, putting it in the top 27% 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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