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

Shares of Slack (NASDAQ:WORK) have received an average broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company.

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

Several analysts recently commented on WORK shares. DA Davidson started coverage on shares of Slack in a research report on Wednesday, May 29th. They set a “neutral” rating on the stock. Robert W. Baird started coverage on shares of Slack in a research report on Tuesday, June 25th. They set an “outperform” rating and a $44.00 price target on the stock. Finally, Atlantic Securities started coverage on shares of Slack in a research report on Wednesday, June 19th. They set an “overweight” rating and a $37.00 price target on the stock.

Shares of NASDAQ:WORK traded down $0.55 during midday trading on Thursday, reaching $36.00. The company’s stock had a trading volume of 3,170,712 shares, compared to its average volume of 13,869,912. Slack has a twelve month low of $34.81 and a twelve month high of $42.00.

In other Slack news, CEO Stewart Butterfield sold 1,360,909 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $39.07, for a total transaction of $53,170,714.63. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Cal Henderson sold 1,500 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $36.23, for a total transaction of $54,345.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,888,311 shares of company stock worth $266,591,852.

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