Slack (NYSE:WORK) Releases 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 (EPS) guidance of -0.07–0.06 for the period, compared to the Thomson Reuters consensus 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.

Slack stock traded down $0.91 on Wednesday, hitting $21.66. 16,501,993 shares of the stock traded hands, compared to its average volume of 8,231,622. The firm has a fifty day moving average of $21.85. Slack has a 1 year low of $19.53 and a 1 year high of $42.00.

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Slack (NYSE:WORK) last announced its quarterly earnings data on Wednesday, September 4th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.05. The firm had revenue of $144.97 million for the quarter, compared to analysts’ expectations of $140.60 million. As a group, equities analysts expect that Slack will post -0.43 EPS for the current year.

Several equities analysts have commented on WORK shares. Credit Suisse Group reissued a neutral rating and set a $35.00 price objective (down previously from $40.00) on shares of Slack in a research report on Thursday, September 5th. MKM Partners lowered their price objective on Slack from $38.00 to $28.00 and set a buy rating for the company in a research report on Tuesday, November 12th. Goldman Sachs Group set a $34.00 price objective on Slack and gave the company a hold rating in a research report on Thursday, September 5th. Morgan Stanley lowered their price objective on Slack from $38.00 to $28.00 and set a weight rating for the company in a research report on Wednesday, October 16th. Finally, Sanford C. Bernstein started coverage on Slack in a research report on Wednesday, August 14th. They set a market perform rating and a $31.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $32.63.

In other news, CTO Cal Henderson sold 1,500 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $28.79, for a total transaction of $43,185.00. Also, CEO Stewart Butterfield sold 2,500 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $25.11, for a total value of $62,775.00. Insiders have sold 273,429 shares of company stock valued at $5,900,891 over the last 90 days.

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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