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Has Slack Technologies (WORK) Outpaced Other Business Services Stocks This Year?

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The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Slack Technologies (WORK - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of WORK and the rest of the Business Services group's stocks.

Slack Technologies is one of 189 companies in the Business Services group. The Business Services group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. WORK is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for WORK's full-year earnings has moved 22.37% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, WORK has gained about 19% so far this year. Meanwhile, stocks in the Business Services group have gained about 0.73% on average. As we can see, Slack Technologies is performing better than its sector in the calendar year.

To break things down more, WORK belongs to the Technology Services industry, a group that includes 54 individual companies and currently sits at #82 in the Zacks Industry Rank. Stocks in this group have gained about 5.47% so far this year, so WORK is performing better this group in terms of year-to-date returns.

WORK will likely be looking to continue its solid performance, so investors interested in Business Services stocks should continue to pay close attention to the company.


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