Shares of Slack fell sharply on Wednesday. WORK closed at $29.32 on Tuesday, ahead of earnings. The company reported a breakeven EPS quarter and beat on revenues. EPS Guidance for Q3 was on the low end of the previous range. The stock opened at $24.62 on Wednesday morning, off more than 15%. WORK traded as high as $35.07 as recent as last Wednesday. The 200-day moving average now sits above the current share price, at $27.24. Shares are off 40% from the 52-week high of $40.07. WORK was a Zacks Rank #3 (Hold) heading into the report. The Technology Services industry ranks in the Bottom 31% of our Zacks Industry Rank.

Slack Technologies, Inc. Price and Consensus

Slack Technologies, Inc. price-consensus-chart | Slack Technologies, Inc. Quote

Now See All Our Private Trades                                                                                                                                                             

While today's Zacks Rank #1 new additions are being shared with the public, other trades are hidden from everyone but selected members. Would you like to peek behind the curtain and view them? Starting today, for the next month, you can follow all Zacks' private buys and sells in real time from value to momentum  . . . from stocks under $10 to ETF and option moves . . . from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors. Click here for all Zacks trades >>