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

Zacks Equity Research
·2 min read

In the latest trading session, Slack Technologies (WORK) closed at $25.75, marking a -0.54% move from the previous day. This change lagged the S&P 500's daily gain of 1.36%. At the same time, the Dow added 1.37%, and the tech-heavy Nasdaq gained 1.02%.

Prior to today's trading, shares of the work messaging service had lost 20.51% over the past month. This has lagged the Business Services sector's loss of 0.01% and the S&P 500's gain of 0.23% in that time.

Wall Street will be looking for positivity from WORK as it approaches its next earnings report date. On that day, WORK is projected to report earnings of -$0.05 per share, which would represent 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.

WORK's full-year Zacks Consensus Estimates are calling for earnings of -$0.13 per share and revenue of $874.78 million. These results would represent year-over-year changes of +53.57% and +38.76%, respectively.

It is also important to note the recent changes to analyst estimates for WORK. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. WORK is currently sporting a Zacks Rank of #4 (Sell).

The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 198, putting it in the bottom 23% 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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