DA Davidson reaffirmed their neutral rating on shares of Slack (NYSE:WORK) in a research note issued to investors on Tuesday morning, The Fly reports. They currently have a $26.00 target price on the stock. The analysts noted that the move was a valuation call.

Several other equities research analysts have also recently issued reports on the company. Credit Suisse Group reduced their target price on Slack from $35.00 to $27.00 and set a neutral rating on the stock in a report on Thursday, December 5th. William Blair reaffirmed a buy rating on shares of Slack in a report on Wednesday, November 20th. Barclays reaffirmed a buy rating and issued a $31.00 target price on shares of Slack in a report on Sunday, November 3rd. Mizuho lifted their target price on Slack from $20.00 to $24.00 and gave the stock a neutral rating in a report on Thursday, November 7th. Finally, ValuEngine raised Slack from a hold rating to a buy rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $30.76.

Shares of WORK stock opened at $26.55 on Tuesday. Slack has a 12-month low of $19.53 and a 12-month high of $42.00. The stock’s 50-day moving average price is $22.42 and its 200-day moving average price is $24.38.

Slack (NYSE:WORK) last issued its earnings results on Wednesday, December 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.07. Slack had a negative return on equity of 554.57% and a negative net margin of 90.86%. The firm had revenue of $168.70 million for the quarter, compared to analysts’ expectations of $156.14 million. Slack’s revenue for the quarter was up 59.8% compared to the same quarter last year. As a group, analysts predict that Slack will post -0.33 EPS for the current year.

In other Slack news, CEO Stewart Butterfield sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $21.49, for a total transaction of $53,725.00. Following the completion of the transaction, the chief executive officer now owns 208,747 shares in the company, valued at $4,485,973.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Cal Henderson sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $23.09, for a total value of $34,635.00. The disclosure for this sale can be found here. Insiders have sold 213,595 shares of company stock worth $4,850,548 over the last three months.

Several large investors have recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Slack by 7.1% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 224,500 shares of the company’s stock valued at $5,047,000 after buying an additional 14,798 shares during the period. CSat Investment Advisory L.P. boosted its position in shares of Slack by 9.8% during the fourth quarter. CSat Investment Advisory L.P. now owns 6,735 shares of the company’s stock valued at $151,000 after buying an additional 602 shares during the period. AlpInvest Partners B.V. boosted its position in shares of Slack by 914.9% during the fourth quarter. AlpInvest Partners B.V. now owns 588,017 shares of the company’s stock valued at $13,219,000 after buying an additional 530,076 shares during the period. Oxford Asset Management LLP purchased a new position in shares of Slack during the fourth quarter valued at approximately $3,525,000. Finally, Stifel Financial Corp boosted its position in shares of Slack by 120.5% during the fourth quarter. Stifel Financial Corp now owns 22,107 shares of the company’s stock valued at $484,000 after buying an additional 12,083 shares during the period. Institutional investors and hedge funds own 33.60% of the company’s stock.

Slack Company Profile

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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Analyst Recommendations for Slack (NYSE:WORK)

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