Slack (NASDAQ:WORK) Receives Average Rating of “Buy” from Analysts

Slack (NASDAQ:WORK) has earned a consensus broker rating score of 2.33 (Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company.

Brokerages have set a 1-year consensus price target of $37.50 for the company and are expecting that the company will post ($0.07) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Slack an industry rank of 99 out of 256 based on the ratings given to its competitors.

A number of analysts have recently weighed in on WORK shares. DA Davidson raised their price target on shares of Slack to $31.00 and gave the stock an “average” rating in a research report on Tuesday, June 11th. Robert W. Baird initiated coverage on Slack in a research note on Tuesday, June 25th. They set an “outperform” rating and a $44.00 price objective on the stock. Oppenheimer raised their price objective on Valeritas from $1.25 to $12.00 and gave the stock an “outperform” rating in a research note on Tuesday. Atlantic Securities initiated coverage on Slack in a research note on Wednesday, June 19th. They set an “overweight” rating and a $37.00 price objective on the stock. Finally, Stephens initiated coverage on Slack in a research note on Thursday. They set an “overweight” rating and a $43.00 price objective on the stock.

In related news, CEO Stewart Butterfield sold 1,360,909 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $39.07, for a total transaction of $53,170,714.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Parallel Fund Iv-A L.P. Ah sold 3,000,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $38.66, for a total value of $115,980,000.00. The disclosure for this sale can be found here. Insiders have sold 6,900,311 shares of company stock worth $267,016,732 over the last 90 days.

Shares of WORK stock traded down $1.27 during mid-day trading on Friday, reaching $33.73. 14,555,378 shares of the company were exchanged, compared to its average volume of 10,753,441. Slack has a fifty-two week low of $33.37 and a fifty-two week high of $42.00.

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Analyst Recommendations for Slack (NASDAQ:WORK)

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