Slack Technologies closed at $27.05 in the latest trading session, marking a -1.46% move from the prior day. This change lagged the S&P 500's daily loss of 0.03%. Meanwhile, the Dow lost 0.24%, and the Nasdaq, a tech-heavy index, added 0.04%.
Coming into today, shares of the work messaging service had lost 8.47% in the past month. In that same time, the Business Services sector gained 0.27%, while the S&P 500 gained 3.1%.
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%. Meanwhile, our latest consensus estimate is calling for revenue of $223.46 million, up 32.43% from the prior-year quarter.
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.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.46% higher. WORK is currently sporting 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 210, which puts it in the bottom 18% 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.
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