Brokerages Set Slack (NASDAQ:WORK) Target Price at $38.78

Slack (NASDAQ:WORK) has been assigned a consensus rating of “Hold” from the fourteen brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $38.78.

A number of research analysts have issued reports on WORK shares. Credit Suisse Group started coverage on shares of Slack in a report on Tuesday, July 16th. They issued a “neutral” rating and a $40.00 target price on the stock. Zacks Investment Research downgraded shares of Slack from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Canaccord Genuity began coverage on shares of Slack in a research note on Monday, July 15th. They set a “buy” rating and a $40.00 price objective for the company. DA Davidson upped their price objective on shares of Slack to $31.00 and gave the company an “average” rating in a research note on Tuesday, June 11th. Finally, KeyCorp began coverage on shares of Slack in a research note on Tuesday, July 16th. They set an “overweight” rating and a $44.00 price objective for the company.

NASDAQ:WORK traded down $1.08 on Friday, reaching $30.17. The stock had a trading volume of 49,288 shares, compared to its average volume of 6,983,472. The stock’s fifty day simple moving average is $33.64. Slack has a 12-month low of $29.10 and a 12-month high of $42.00.

In related news, SVP Robert Frati sold 376,238 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $38.30, for a total transaction of $14,409,915.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stewart Butterfield sold 2,500 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $30.69, for a total transaction of $76,725.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,936,311 shares of company stock valued at $268,197,602.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Meadow Creek Investment Management LLC acquired a new stake in Slack during the 2nd quarter worth approximately $25,000. Sterling Investment Advisors Ltd. acquired a new stake in Slack during the 2nd quarter worth approximately $28,000. Neuburgh Advisers LLC acquired a new stake in Slack during the 2nd quarter worth approximately $35,000. Winslow Evans & Crocker Inc. acquired a new stake in Slack during the 2nd quarter worth approximately $38,000. Finally, Gables Capital Management Inc. acquired a new stake in Slack during the 2nd quarter worth approximately $38,000.

About Slack

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Analyst Recommendations for Slack (NASDAQ:WORK)

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