Slack (NYSE:WORK) Posts Earnings Results, Beats Estimates By $0.07 EPS

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Slack (NYSE:WORK) issued its quarterly earnings results on Wednesday. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.07, Briefing.com reports. The firm had revenue of $168.70 million for the quarter, compared to the consensus estimate of $156.14 million. The company’s revenue for the quarter was up 59.8% on a year-over-year basis.

Shares of NYSE WORK opened at $22.50 on Friday. The firm’s fifty day moving average price is $21.74. Slack has a twelve month low of $19.53 and a twelve month high of $42.00.

In other news, CEO Stewart Butterfield sold 2,500 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $25.60, for a total transaction of $64,000.00. Also, CTO Cal Henderson sold 1,500 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $25.41, for a total value of $38,115.00. Insiders sold a total of 269,429 shares of company stock valued at $5,785,406 over the last quarter.

WORK has been the topic of several recent analyst reports. Barclays reiterated a “buy” rating and issued a $31.00 price target on shares of Slack in a report on Sunday, November 3rd. DA Davidson dropped their price objective on Slack to $26.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Robert W. Baird upped their price objective on Slack to $31.00 and gave the company an “outperform” rating in a research report on Thursday. Credit Suisse Group cut their price objective on Slack from $35.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Piper Jaffray Companies assumed coverage on Slack in a research note on Monday, October 28th. They issued an “overweight” rating and a $30.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Slack currently has an average rating of “Buy” and a consensus target price of $31.21.

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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