Slack (NYSE:WORK) Issues 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 EPS guidance of -0.07–0.06 for the period, compared to the Thomson Reuters consensus EPS 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 traded down $0.91 during trading hours on Wednesday, hitting $21.66. The company’s stock had a trading volume of 16,501,993 shares, compared to its average volume of 8,231,622. The firm has a 50-day moving average of $21.79. Slack has a 12 month low of $19.53 and a 12 month high of $42.00.

Slack (NYSE:WORK) last announced its quarterly earnings results on Wednesday, September 4th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.03) by $0.05. The business had revenue of $144.97 million during the quarter, compared to the consensus estimate of $140.60 million. Analysts anticipate that Slack will post -0.43 earnings per share for the current year.

WORK has been the topic of several research reports. Credit Suisse Group restated a neutral rating and issued a $35.00 price target (down previously from $40.00) on shares of Slack in a research report on Thursday, September 5th. Piper Jaffray Companies initiated coverage on shares of Slack in a research report on Monday, October 28th. They issued an overweight rating and a $30.00 price target on the stock. Goldman Sachs Group set a $34.00 price target on shares of Slack and gave the stock a hold rating in a research report on Thursday, September 5th. MKM Partners reduced their price target on shares of Slack from $38.00 to $28.00 and set a buy rating on the stock in a research report on Tuesday, November 12th. Finally, Sanford C. Bernstein initiated coverage on shares of Slack in a research report on Wednesday, August 14th. They issued a market perform rating and a $31.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. Slack presently has a consensus rating of Buy and an average target price of $32.63.

In other news, major shareholder Allen Shim sold 20,000 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $1.44, for a total value of $28,800.00. Also, SVP Robert Frati sold 33,080 shares of the company’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. Insiders have sold 273,429 shares of company stock worth $5,900,891 in the last quarter.

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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