Brokerages Set $37.50 Price Target for Slack (NASDAQ:WORK)

Slack (NASDAQ:WORK) has been given a consensus broker rating score of 2.33 (Buy) from the three brokers that cover the company, Zacks Investment Research reports. Two research analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.

Brokerages have set a 1 year consensus target price of $37.50 for the company and are expecting that the company will post ($0.07) EPS for the current quarter, according to Zacks. Zacks has also given Slack an industry rank of 99 out of 256 based on the ratings given to related companies.

Several research analysts have recently weighed in on WORK shares. Atlantic Securities began coverage on shares of Slack in a research note on Wednesday, June 19th. They set an “overweight” rating and a $37.00 price target on the stock. DA Davidson lifted their target price on shares of Slack to $31.00 and gave the company an “average” rating in a research note on Tuesday, June 11th. Robert W. Baird began coverage on shares of Slack in a research note on Tuesday, June 25th. They set an “outperform” rating and a $44.00 target price on the stock. Stephens began coverage on shares of Slack in a research note on Thursday. They set an “overweight” rating and a $43.00 target price on the stock. Finally, Oppenheimer lifted their target price on shares of Valeritas from $1.25 to $12.00 and gave the company an “outperform” rating in a research note on Tuesday.

Shares of Slack stock traded down $1.27 on Friday, hitting $33.73. 14,555,378 shares of the company’s stock were exchanged, compared to its average volume of 10,753,441. Slack has a 1 year low of $33.37 and a 1 year high of $42.00.

In other Slack news, major shareholder Parallel Fund Iv-A L.P. Ah sold 3,000,000 shares of Slack stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $38.66, for a total value of $115,980,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Stewart Butterfield sold 1,360,909 shares of Slack stock in a transaction on Friday, June 21st. The shares were sold at an average price of $39.07, for a total transaction of $53,170,714.63. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,900,311 shares of company stock worth $267,016,732.

Read More: Cost of Capital Explained

Get a free copy of the Zacks research report on Slack (WORK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Slack (NASDAQ:WORK)

Receive News & Ratings for Slack Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Slack and related companies with MarketBeat.com's FREE daily email newsletter.