Slack (NYSE:WORK) Releases FY 2020 After-Hours Earnings Guidance
Slack (NYSE:WORK) updated its FY 2020
After-Hours earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of -0.32–0.31 for the period, compared to the Thomson Reuters consensus estimate of $-0.4. The company issued revenue guidance of $621-623 million, compared to the consensus revenue estimate of $608.98 million.Slack also updated its Q4 2020
After-Hours guidance to -0.07–0.06 EPS.
A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Slack from a hold rating to a buy rating and set a $28.00 price target on the stock in a report on Saturday, October 5th. Barclays restated a buy rating and issued a $31.00 price target on shares of Slack in a report on Sunday, November 3rd. William Blair restated a buy rating on shares of Slack in a report on Wednesday, November 20th. Goldman Sachs Group set a $34.00 price target on shares of Slack and gave the company a hold rating in a report on Thursday, September 5th. Finally, Morgan Stanley lowered their price target on shares of Slack from $38.00 to $28.00 and set a weight rating on the stock in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. Slack presently has a consensus rating of Buy and a consensus price target of $32.63.
WORK stock traded down $0.91 during trading on Wednesday, reaching $21.66. The company had a trading volume of 16,501,993 shares, compared to its average volume of 8,231,622. The business has a 50-day simple moving average of $21.79. Slack has a twelve month low of $19.53 and a twelve month high of $42.00.
In other Slack news, CFO Allen Shim sold 4,858 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $21.84, for a total transaction of $106,098.72. Following the completion of the transaction, the chief financial officer now directly owns 37,460 shares of the company’s stock, valued at approximately $818,126.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas C. Leonard sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $85.22, for a total transaction of $340,880.00. Insiders sold a total of 273,429 shares of company stock valued at $5,900,891 over the last quarter.
Slack Technologies, Inc operates Slack, a business technology software platform in the United States and internationally. Its platform brings together people, applications, and data, as well as sells its offering under a software-as-a-service model. The company was formerly known as Tiny Speck, Inc and changed its name to Slack Technologies, Inc in 2014.
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