Slack Technologies (WORK) closed the most recent trading day at $26.61, moving -0.52% from the previous trading session. This move lagged the S&P 500's daily loss of 0.38%. Elsewhere, the Dow lost 0.46%, while the tech-heavy Nasdaq added 0.17%.
Heading into today, shares of the work messaging service had gained 27.5% over the past month, outpacing the Business Services sector's loss of 4.85% and the S&P 500's loss of 4.88% in that time.
Wall Street will be looking for positivity from WORK as it approaches its next earnings report date. This is expected to be March 12, 2020.
Investors should also note any recent changes to analyst estimates for WORK. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. WORK currently has a Zacks Rank of #2 (Buy).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 82, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow WORK in the coming trading sessions, be sure to utilize Zacks.com.
Slack Technologies, Inc. (WORK): Free Stock Analysis Report
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