Slack Technologies (WORK) Stock Moves -1.07%: What You Should Know

By Zacks Investment ResearchStock MarketsMar 03, 2020 05:45AM ET

www.investing.com/analysis/slack-technologies-work-stock-moves-107-what-you-should-know-200513000

Slack Technologies (WORK) Stock Moves -1.07%: What You Should Know

By Zacks Investment Research | Mar 03, 2020 05:45AM ET

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Slack Technologies (WORK) closed at $26.92 in the latest trading session, marking a -1.07% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.81%. Meanwhile, the Dow lost 2.94%, and the Nasdaq, a tech-heavy index, lost 3%.

Heading into today, shares of the work messaging service had gained 29.69% over the past month, outpacing the Business Services sector's loss of 3.56% and the S&P 500's loss of 3.97% in that time.

Investors will be hoping for strength from WORK as it approaches its next earnings release, which is expected to be March 12, 2020.

Any recent changes to analyst estimates for WORK should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. WORK is currently a Zacks Rank #3 (Hold).

The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 77, which puts it in the top 31% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

Slack Technologies, Inc. (WORK): Free Stock Analysis Report

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Slack Technologies (WORK) Stock Moves -1.07%: What You Should Know

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