Slack Technologies closed at $29.99 in the latest trading session, marking a +1.87% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.8%. Elsewhere, the Dow gained 0.43%, while the tech-heavy Nasdaq added 0.5%.
Investors will be hoping for strength from WORK as it approaches its next earnings release. In that report, analysts expect WORK to post earnings of -$0.05 per share. This would mark a year-over-year decline of 150%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $223.46 million, up 32.43% from the year-ago period.
WORK's full-year Zacks Consensus Estimates are calling for earnings of -$0.13 per share and revenue of $874.78 million. These results would represent year-over-year changes of +53.57% and +38.76%, respectively.
Investors might also notice recent changes to analyst estimates for WORK. These revisions help to show the ever-changing nature of near-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. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.6% higher. WORK currently has a Zacks Rank of #2 (Buy).
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 34% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.