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

Zacks Equity Research
·2 min read

Slack Technologies (WORK) closed at $28.62 in the latest trading session, marking a -0.87% move from the prior day. This change lagged the S&P 500's 0.52% gain on the day. Elsewhere, the Dow gained 0.54%, while the tech-heavy Nasdaq added 0.19%.

Prior to today's trading, shares of the work messaging service had gained 9.48% over the past month. This has outpaced the Business Services sector's loss of 9.77% and the S&P 500's gain of 4.79% in that time.

Wall Street will be looking for positivity from WORK as it approaches its next earnings report date. In that report, analysts expect WORK to post earnings of -$0.05 per share. This would mark a year-over-year decline of 150%. Meanwhile, our latest consensus estimate is calling for revenue of $223.46 million, up 32.43% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.13 per share and revenue of $874.78 million. These totals would mark changes of +53.57% and +38.76%, respectively, from last year.

Any recent changes to analyst estimates for WORK should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 0.46% 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 167, which puts it in the bottom 34% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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