Slack (NYSE:WORK) Updates Q4 2020 After-Hours Earnings Guidance

Slack (NYSE:WORK) issued an update on its fourth quarter 2020
After-Hours earnings guidance on Wednesday morning. The company provided earnings per share guidance of -0.07–0.06 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.06. The company issued revenue guidance of $172-174 million, compared to the consensus revenue estimate of $172.91 million.Slack also updated its FY 2020
After-Hours guidance to -0.32–0.31 EPS.

WORK has been the topic of several recent research reports. Morgan Stanley reduced their target price on shares of Slack from $38.00 to $28.00 and set a weight rating on the stock in a report on Wednesday, October 16th. Goldman Sachs Group set a $34.00 price target on shares of Slack and gave the stock a hold rating in a research note on Thursday, September 5th. Credit Suisse Group cut their price target on shares of Slack from $35.00 to $27.00 and set a neutral rating for the company in a research report on Thursday. Barclays reaffirmed a buy rating and set a $31.00 price objective on shares of Slack in a research note on Sunday, November 3rd. Finally, Wedbush reiterated a sell rating and issued a $14.00 price objective on shares of Slack in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $31.21.

Slack stock opened at $22.50 on Friday. The business’s 50-day moving average price is $21.74. Slack has a 1-year low of $19.53 and a 1-year high of $42.00.

Slack (NYSE:WORK) last posted its earnings results on Wednesday, December 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.07. The business had revenue of $168.70 million during the quarter, compared to the consensus estimate of $156.14 million. Slack’s revenue was up 59.8% compared to the same quarter last year. As a group, research analysts predict that Slack will post -0.43 EPS for the current year.

In related news, CAO Brandon Zell sold 2,610 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $22.98, for a total value of $59,977.80. Also, SVP Robert Frati sold 33,080 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $20.75, for a total transaction of $686,410.00. In the last quarter, insiders sold 269,429 shares of company stock valued at $5,785,406.

Slack Company Profile

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.

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Earnings History and Estimates for Slack (NYSE:WORK)

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