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.

Shares of WORK traded down $0.91 during mid-day trading on Wednesday, hitting $21.66. 16,501,993 shares of the company traded hands, compared to its average volume of 8,231,622. Slack has a 1-year low of $19.53 and a 1-year high of $42.00. The firm’s 50 day simple moving average is $21.79.

Slack (NYSE:WORK) last posted its quarterly earnings data on Wednesday, September 4th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.03) by $0.05. The company had revenue of $144.97 million for the quarter, compared to analyst estimates of $140.60 million. On average, research analysts expect that Slack will post -0.43 EPS for the current fiscal year.

Several equities analysts recently weighed in on WORK shares. Goldman Sachs Group set a $34.00 price target on shares of Slack and gave the stock a hold rating in a report on Thursday, September 5th. Citigroup cut their price target on shares of Slack from $39.00 to $27.00 and set a neutral rating on the stock in a report on Friday, September 6th. KeyCorp set a $44.00 price target on shares of Slack and gave the stock a buy rating in a report on Wednesday, September 4th. DA Davidson cut their price target on shares of Slack to $26.00 and set a neutral rating on the stock in a report on Wednesday, October 9th. Finally, Zacks Investment Research upgraded shares of Slack from a hold rating to a buy rating and set a $28.00 price target on the stock in a report on Saturday, October 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. Slack presently has an average rating of Buy and a consensus price target of $32.63.

In other news, CFO Allen Shim sold 4,858 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $21.84, for a total transaction of $106,098.72. Following the sale, the chief financial officer now owns 37,460 shares of the company’s stock, valued at approximately $818,126.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Cal Henderson sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $28.79, for a total transaction of $43,185.00. Insiders have sold a total of 273,429 shares of company stock worth $5,900,891 in the last ninety 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.

Featured Article: How does inflation affect different investments?

Earnings History and Estimates for Slack (NYSE: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.