Slack Technologies closed the most recent trading day at $32.73, moving +0.96% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.66%. At the same time, the Dow lost 0.58%, and the tech-heavy Nasdaq lost 0.8%.
Prior to today's trading, shares of the work messaging service had gained 26.44% over the past month. This has outpaced the Business Services sector's loss of 6.34% and the S&P 500's gain of 5.22% in that time.
WORK will be looking to display strength as it nears its next earnings release. On that day, WORK is projected to report earnings of -$0.05 per share, which would represent a year-over-year decline of 150%. Our most recent consensus estimate is calling for quarterly revenue of $223.46 million, up 32.43% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.13 per share and revenue of $874.78 million. These totals would mark changes of +53.57% and +38.76%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for WORK. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 0.46% higher within the past month. WORK currently has a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 124, which puts it in the top 50% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.