Slack Technologies closed the most recent trading day at $28.57, moving +0.99% from the previous trading session. This change outpaced the S&P 500's 0.36% gain on the day. Meanwhile, the Dow lost 0.21%, and the Nasdaq, a tech-heavy index, added 0.76%.
Coming into today, shares of the work messaging service had lost 3.68% in the past month. In that same time, the Business Services sector gained 5.16%, while the S&P 500 gained 6.9%.
Investors will be hoping for strength from WORK as it approaches its next earnings release, which is expected to be September 8, 2020. The company is expected to report EPS of -$0.03, up 78.57% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $208.33 million, up 43.71% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.16 per share and revenue of $866.86 million. These totals would mark changes of +42.86% and +37.51%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for WORK. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. WORK currently has 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 166, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow WORK in the coming trading sessions, be sure to utilize Zacks.com.
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Slack Technologies (WORK) Outpaces Stock Market Gains: What You Should Know
Slack Technologies closed the most recent trading day at $28.57, moving +0.99% from the previous trading session. This change outpaced the S&P 500's 0.36% gain on the day. Meanwhile, the Dow lost 0.21%, and the Nasdaq, a tech-heavy index, added 0.76%.
Coming into today, shares of the work messaging service had lost 3.68% in the past month. In that same time, the Business Services sector gained 5.16%, while the S&P 500 gained 6.9%.
Investors will be hoping for strength from WORK as it approaches its next earnings release, which is expected to be September 8, 2020. The company is expected to report EPS of -$0.03, up 78.57% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $208.33 million, up 43.71% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.16 per share and revenue of $866.86 million. These totals would mark changes of +42.86% and +37.51%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for WORK. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. WORK currently has 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 166, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow WORK in the coming trading sessions, be sure to utilize Zacks.com.