Slack Technologies Inc. (WORK) Stock Could Soon Reward Patient Investors

Slack Technologies Inc. (NYSE: WORK) is 41.95% higher on its value in year-to-date trading and has touched a low of $15.10 and a high of $40.07 in the current 52-week trading range. The WORK stock was last observed hovering at around $30.85 in the last trading session, with the day’s gains setting it 1.06% off its average median price target of $37.00 for the next 12 months. It is also 29.09% off the consensus price target high of $45.00 offered by 26 analysts, but current levels are -59.55% lower than the price target low of $20.00 for the same period.

Currently trading at $31.91, the stock is 9.65% and 3.80% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 12.36 million and changing 3.44% at the moment leaves the stock 18.76% off its SMA200. WORK registered 6.44% gain for a year compared to 6-month gain of 17.27%. The firm has a 50-day simple moving average (SMA 50) of $29.94 and a 200-day simple moving average (SMA200) of $29.01.

The stock witnessed a 10.91% loss in the last 1 month and extending the period to 3 months gives it a -14.17%, and is 9.73% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.73% over the week and 4.02% over the month.

Slack Technologies Inc. (WORK) has around 2045 employees, a market worth around $17.39B and $697.30M in sales. Profit margin for the company is -87.90%. Distance from 52-week low is 111.32% and -20.36% from its 52-week high. The company has generated returns on investments over the last 12 months (-83.10%).

Slack Technologies Inc. (WORK) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Slack Technologies Inc. (WORK) is a “Overweight”. 26 analysts offering their recommendations for the stock have an average rating of 2.40, where 9 rate it as a Hold and 2 think it is a “Overweight”. 11 of the analysts rate the stock as a “Buy”. 3 analysts have rated the stock as a Sell or Underperform.

Slack Technologies Inc. is expected to release its quarterly report on 09/03/2020 and quarterly earnings per share for the current quarter are estimated at -$0.03 with sales reaching $209.1M over the same period.The EPS is expected to shrink by -268.80% this year, but quarterly earnings will post 38.30% year-over-year.

Slack Technologies Inc. (WORK) Top Institutional Holders

396 institutions hold shares in Slack Technologies Inc. (WORK), with 2.19M shares held by insiders accounting for 0.39% while institutional investors hold 65.93% of the company’s shares. The shares outstanding are 557.41M, and float is at 427.19M with Short Float at 13.69%. Institutions hold 65.68% of the Float.

The top institutional shareholder in the company is Morgan Stanley with over 65.05 million shares valued at $2.02 billion. The investor’s holdings represent 15.29% of the WORK Shares outstanding. As of Jun 29, 2020, the second largest holder is Price (T.Rowe) Associates Inc with 40.56 million shares valued at $1.26 billion to account for 9.53% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 32.49 million shares representing 7.64% and valued at over $1.01 billion, while Wellington Management Company, LLP holds 4.63% of the shares totaling 19.72 million with a market value of $612.95 million.

Slack Technologies Inc. (WORK) Insider Activity

A total of 338 insider transactions have happened at Slack Technologies Inc. (WORK) in the last six months, with sales accounting for 260 and purchases happening 78 times. The most recent transaction is an insider sale by Henderson Cal, the company’s Chief Technology Officer. SEC filings show that Henderson Cal sold 1,500 shares of the company’s common stock on Aug 27 at a price of $30.53 per share for a total of $45795.0. Following the sale, the insider now owns 0.13 million shares.

Slack Technologies Inc. disclosed in a document filed with the SEC on Aug 26 that Henderson Cal (Chief Technology Officer) sold a total of 1,500 shares of the company’s common stock. The trade occurred on Aug 26 and was made at $30.00 per share for $45000.0. Following the transaction, the insider now directly holds 0.13 million shares of the WORK stock.

Still, SEC filings show that on Aug 21, Henderson Cal (Chief Technology Officer) disposed off 1,500 shares at an average price of $30.11 for $45165.0. The insider now directly holds 129,255 shares of Slack Technologies Inc. (WORK).