Slack (NYSE:WORK) Stock Rating Reaffirmed by Stephens

Slack (NYSE:WORK)‘s stock had its “buy” rating reiterated by research analysts at Stephens in a research note issued on Thursday, AnalystRatings.com reports. They currently have a $32.00 price target on the stock. Stephens’ price objective indicates a potential upside of 11.97% from the company’s current price.

Several other equities analysts have also recently commented on the stock. Royal Bank of Canada began coverage on shares of Slack in a research note on Tuesday, February 4th. They set an “outperform” rating and a $25.00 price objective for the company. Credit Suisse Group reduced their price objective on shares of Slack from $27.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, March 13th. Robert W. Baird reaffirmed an “in-line” rating and set a $24.00 price objective (down previously from $31.00) on shares of Slack in a research note on Friday, March 13th. Zacks Investment Research cut shares of Slack from a “hold” rating to a “sell” rating in a research note on Wednesday, March 18th. Finally, Morgan Stanley boosted their price objective on shares of Slack from $21.00 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $28.43.

NYSE:WORK traded up $0.10 during mid-day trading on Thursday, hitting $28.58. 17,766,556 shares of the stock traded hands, compared to its average volume of 19,354,690. The business’s 50-day moving average price is $25.12 and its 200 day moving average price is $23.22. The company has a market cap of $15.86 billion and a PE ratio of -18.32. Slack has a 12-month low of $15.10 and a 12-month high of $42.00.

Slack (NYSE:WORK) last issued its quarterly earnings data on Thursday, March 12th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. The company had revenue of $181.90 million during the quarter, compared to analysts’ expectations of $174.24 million. Slack had a negative net margin of 90.58% and a negative return on equity of 138.05%. The business’s quarterly revenue was up 49.1% on a year-over-year basis. As a group, sell-side analysts predict that Slack will post -0.21 EPS for the current year.

In other news, CTO Cal Henderson sold 1,500 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $27.79, for a total value of $41,685.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Allen Shim sold 45,000 shares of the company’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $26.10, for a total transaction of $1,174,500.00. Following the completion of the sale, the chief financial officer now directly owns 137,010 shares of the company’s stock, valued at approximately $3,575,961. The disclosure for this sale can be found here. In the last three months, insiders sold 1,187,786 shares of company stock valued at $25,625,056.

Several institutional investors have recently made changes to their positions in WORK. Quadrant Capital Group LLC purchased a new stake in shares of Slack in the 4th quarter valued at $27,000. CWM LLC purchased a new stake in shares of Slack in the 4th quarter valued at $30,000. PSI Advisors LLC purchased a new stake in shares of Slack in the 4th quarter valued at $32,000. Global Retirement Partners LLC purchased a new stake in shares of Slack in the 3rd quarter valued at $33,000. Finally, Altshuler Shaham Ltd purchased a new stake in shares of Slack in the 4th quarter valued at $37,000. 48.28% of the stock is owned by institutional investors.

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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