In the latest trading session, Slack Technologies closed at $28.24, marking a -0.42% move from the previous day. This move lagged the S&P 500's daily gain of 0.27%. Meanwhile, the Dow lost 0.31%, and the Nasdaq, a tech-heavy index, added 1%.
Prior to today's trading, shares of the work messaging service had lost 10.28% over the past month. This has lagged the Business Services sector's gain of 4.73% and the S&P 500's gain of 5.63% in that time.
WORK will be looking to display strength as it nears its next earnings release, which is expected to be September 8, 2020. In that report, analysts expect WORK to post earnings of -$0.03 per share. This would mark year-over-year growth of 78.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $208.33 million, up 43.71% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.16 per share and revenue of $866.86 million, which would represent changes of +42.86% and +37.51%, respectively, from the prior year.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 124, putting it in the top 49% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Slack Technologies (WORK) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Slack Technologies closed at $28.24, marking a -0.42% move from the previous day. This move lagged the S&P 500's daily gain of 0.27%. Meanwhile, the Dow lost 0.31%, and the Nasdaq, a tech-heavy index, added 1%.
Prior to today's trading, shares of the work messaging service had lost 10.28% over the past month. This has lagged the Business Services sector's gain of 4.73% and the S&P 500's gain of 5.63% in that time.
WORK will be looking to display strength as it nears its next earnings release, which is expected to be September 8, 2020. In that report, analysts expect WORK to post earnings of -$0.03 per share. This would mark year-over-year growth of 78.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $208.33 million, up 43.71% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.16 per share and revenue of $866.86 million, which would represent changes of +42.86% and +37.51%, respectively, from the prior year.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 124, putting it in the top 49% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.