Slack Technologies (WORK - Free Report) closed at $34.02 in the latest trading session, marking a -0.64% move from the prior day. This change lagged the S&P 500's 0.56% loss on the day. At the same time, the Dow lost 1.39%, and the tech-heavy Nasdaq gained 0.53%.
Prior to today's trading, shares of the work messaging service had gained 5.45% over the past month. This has outpaced the Business Services sector's loss of 1.87% and the S&P 500's loss of 1.79% in that time.
Wall Street will be looking for positivity from WORK as it approaches its next earnings report date. On that day, WORK is projected to report earnings of -$0.03 per share, which would represent year-over-year growth of 78.57%. Our most recent consensus estimate is calling for quarterly revenue of $208.13 million, up 43.57% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.16 per share and revenue of $865.66 million, which would represent changes of +42.86% and +37.31%, respectively, from the prior year.
Any recent changes to analyst estimates for WORK should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection remained stagnant. WORK is currently a Zacks Rank #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.