Slack (NYSE:WORK) – Research analysts at William Blair issued their FY2022 EPS estimates for Slack in a report released on Thursday, December 5th. William Blair analyst B. Suri expects that the company will earn ($0.18) per share for the year. William Blair has a “Buy” rating on the stock.
Several other equities analysts have also recently issued reports on the stock. Goldman Sachs Group set a $34.00 price target on shares of Slack and gave the company a “hold” rating in a research report on Thursday, September 5th. Robert W. Baird reiterated an “outperform” rating and set a $31.00 price objective (up previously from $3.00) on shares of Slack in a research note on Thursday. Credit Suisse Group reissued a “neutral” rating and set a $27.00 price objective (down previously from $35.00) on shares of Slack in a research note on Thursday. Zacks Investment Research upgraded Slack from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Saturday, October 5th. Finally, KeyCorp set a $44.00 price target on shares of Slack and gave the company a “buy” rating in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $31.21.
Slack (NYSE:WORK) last released its earnings results on Wednesday, December 4th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates 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. The firm’s quarterly revenue was up 59.8% compared to the same quarter last year.
In other Slack news, CEO Stewart Butterfield sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $25.11, for a total value of $62,775.00. Also, Director Thomas C. Leonard sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $85.22, for a total value of $340,880.00. Insiders sold a total of 269,429 shares of company stock worth $5,785,406 in the last 90 days.
A number of hedge funds have recently added to or reduced their stakes in the business. JS Capital Management LLC increased its holdings in Slack by 10.1% during the third quarter. JS Capital Management LLC now owns 351,202 shares of the company’s stock worth $8,334,000 after buying an additional 32,346 shares during the last quarter. Millennium Management LLC lifted its position in shares of Slack by 33.5% during the 3rd quarter. Millennium Management LLC now owns 368,847 shares of the company’s stock valued at $8,752,000 after buying an additional 92,634 shares during the last quarter. Tenzing Global Management LLC bought a new position in Slack during the third quarter worth about $593,000. ICONIQ Capital LLC bought a new position in Slack during the third quarter worth about $799,000. Finally, Barclays PLC increased its stake in shares of Slack by 978.7% in the third quarter. Barclays PLC now owns 30,268 shares of the company’s stock worth $718,000 after purchasing an additional 27,462 shares in the last quarter. Institutional investors and hedge funds own 33.78% of the company’s stock.
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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