Slack Technologies (WORK - Free Report) closed the most recent trading day at $33.65, moving -1.9% from the previous trading session. This change lagged the S&P 500's daily gain of 1.54%. Meanwhile, the Dow gained 1.59%, and the Nasdaq, a tech-heavy index, added 0.98%.
Coming into today, shares of the work messaging service had gained 12.31% in the past month. In that same time, the Business Services sector gained 7.76%, while the S&P 500 gained 8%.
Wall Street will be looking for positivity from WORK as it approaches its next earnings report date. This 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, our latest consensus estimate is calling for revenue of $208.33 million, up 43.71% from the prior-year quarter.
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.
Investors might also notice 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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 holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 121, putting it in the top 48% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.