Slack (NYSE:WORK) Releases FY 2020 After-Hours Earnings Guidance

Slack (NYSE:WORK) issued an update on its FY 2020
After-Hours earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of -0.32–0.31 for the period, compared to the Thomson Reuters consensus estimate of $-0.4. The company issued revenue guidance of $621-623 million, compared to the consensus revenue estimate of $608.98 million.Slack also updated its Q4 2020
After-Hours guidance to -0.07–0.06 EPS.

Shares of WORK stock traded down $0.91 on Wednesday, hitting $21.66. The company had a trading volume of 16,501,993 shares, compared to its average volume of 8,231,622. The company’s 50-day simple moving average is $21.85. Slack has a twelve month low of $19.53 and a twelve month high of $42.00.

Slack (NYSE:WORK) last issued 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 during the quarter, compared to analyst estimates of $140.60 million. As a group, research analysts expect that Slack will post -0.43 EPS for the current year.

WORK has been the subject of a number of analyst reports. Piper Jaffray Companies initiated coverage on Slack in a report on Monday, October 28th. They issued an overweight rating and a $30.00 price target for the company. William Blair reaffirmed a buy rating on shares of Slack in a report on Wednesday, November 20th. MKM Partners reduced their price target on Slack from $38.00 to $28.00 and set a buy rating for the company in a report on Tuesday, November 12th. Sanford C. Bernstein initiated coverage on Slack in a report on Wednesday, August 14th. They issued a market perform rating and a $31.00 price target for the company. Finally, Credit Suisse Group reaffirmed a neutral rating and issued a $35.00 price target (down previously from $40.00) on shares of Slack in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $32.63.

In other Slack news, SVP Robert Frati sold 33,080 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $20.75, for a total transaction of $686,410.00. Also, major shareholder Allen Shim sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $1.44, for a total value of $28,800.00. Over the last quarter, insiders have sold 273,429 shares of company stock valued at $5,900,891.

About Slack

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.

Further Reading: Reverse Stock Split

Earnings History and Estimates for Slack (NYSE:WORK)

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