Slack (NYSE:WORK) – Research analysts at Oppenheimer issued their FY2022 earnings estimates for shares of Slack in a research report issued on Thursday, December 5th, according to Zacks Investment Research. Oppenheimer analyst I. Kidron anticipates that the company will post earnings of ($0.13) per share for the year.
Several other equities research analysts have also issued reports on the stock. Barclays reiterated a “buy” rating and set a $31.00 target price on shares of Slack in a research report on Sunday, November 3rd. Zacks Investment Research lowered shares of Slack from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Monness Crespi & Hardt assumed coverage on shares of Slack in a research report on Thursday, December 5th. They set a “buy” rating and a $41.00 target price for the company. Citigroup dropped their target price on shares of Slack from $39.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Finally, Mizuho lifted their target price on shares of Slack from $20.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. Slack presently has an average rating of “Hold” and an average target price of $31.05.
Slack stock remained flat at $$22.00 during mid-day trading on Friday. 4,822,937 shares of the company’s stock traded hands, compared to its average volume of 10,601,660. Slack has a twelve month low of $19.53 and a twelve month high of $42.00. The company has a 50 day moving average price of $21.73.
Slack (NYSE:WORK) last released its quarterly earnings data on Wednesday, December 4th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.07. Slack had a negative net margin of 90.86% and a negative return on equity of 554.57%. The company had revenue of $168.70 million during the quarter, compared to analyst estimates of $156.14 million. The firm’s revenue for the quarter was up 59.8% compared to the same quarter last year.
In other news, SVP Robert Frati sold 33,080 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $20.75, for a total value of $686,410.00. Also, CTO Cal Henderson sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $23.24, for a total transaction of $34,860.00. Over the last 90 days, insiders sold 261,429 shares of company stock valued at $5,510,456.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Pegasus Asset Management Inc. lifted its holdings in shares of Slack by 1.2% in the 3rd quarter. Pegasus Asset Management Inc. now owns 37,979 shares of the company’s stock worth $901,000 after acquiring an additional 465 shares during the last quarter. Sterling Investment Advisors Ltd. increased its stake in shares of Slack by 67.6% in the third quarter. Sterling Investment Advisors Ltd. now owns 1,240 shares of the company’s stock worth $29,000 after buying an additional 500 shares during the period. Meadow Creek Investment Management LLC purchased a new position in shares of Slack in the second quarter worth $25,000. Neuburgh Advisers LLC purchased a new position in shares of Slack in the second quarter worth $35,000. Finally, Gables Capital Management Inc. purchased a new position in shares of Slack in the second quarter worth $38,000. Hedge funds and other institutional investors own 33.39% of the company’s stock.
About Slack
Slack Technologies, Inc operates Slack, a business technology software platform in the United States and internationally. Its platform brings together people, applications, and data, as well as sells its offering under a software-as-a-service model. The company was formerly known as Tiny Speck, Inc and changed its name to Slack Technologies, Inc in 2014.