In the latest trading session, Slack Technologies closed at $29.58, marking a -1.17% move from the previous day. This move lagged the S&P 500's daily gain of 1.62%. At the same time, the Dow added 1.54%, and the tech-heavy Nasdaq gained 1.31%.
Heading into today, shares of the work messaging service had gained 7.86% over the past month, outpacing the Business Services sector's gain of 5.66% and the S&P 500's gain of 3.4% in that time.
Investors will be hoping for strength from WORK as it approaches its next earnings release, which is expected to be December 9, 2020. 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, the Zacks Consensus Estimate for revenue is projecting net sales 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. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. WORK is currently sporting a Zacks Rank of #4 (Sell).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 184, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.