Yahoo Finance Slack Technologies (WORK) Stock Sinks As Market Gains: What You Should Know
Slack Technologies (WORK) closed at $32.11 in the latest trading session, marking a -0.93% move from the prior day. This move lagged the S&P 500's daily gain of 1.48%. At the same time, the Dow added 2.21%, and the tech-heavy Nasdaq gained 0.77%.
Investors will be hoping for strength from WORK as it approaches its next earnings release, which is expected to be June 4, 2020. In that report, analysts expect WORK to post earnings of -$0.07 per share. This would mark year-over-year growth of 73.08%. Our most recent consensus estimate is calling for quarterly revenue of $186.54 million, up 38.36% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.21 per share and revenue of $856.32 million, which would represent changes of +25% and +35.83%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for WORK. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.41% higher within the past month. WORK is currently sporting a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 64, putting it in the top 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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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