DA Davidson Trims Slack (NYSE:WORK) Target Price to $26.00

Slack (NYSE:WORK) had its price objective reduced by DA Davidson to $26.00 in a research report released on Wednesday morning, The Fly reports. They currently have a neutral rating on the stock.

WORK has been the topic of a number of other reports. William Blair began coverage on shares of Slack in a research note on Monday, July 15th. They set an outperform rating on the stock. Canaccord Genuity initiated coverage on shares of Slack in a research report on Monday, July 15th. They issued a buy rating and a $40.00 price target on the stock. Atlantic Securities initiated coverage on shares of Slack in a research report on Wednesday, June 19th. They issued an overweight rating and a $37.00 price target on the stock. Credit Suisse Group reiterated a neutral rating and issued a $35.00 price target (down from $40.00) on shares of Slack in a research report on Thursday, September 5th. Finally, Oppenheimer initiated coverage on shares of Slack in a research report on Tuesday, July 9th. They issued a market perform rating and a $35.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Slack presently has an average rating of Buy and an average target price of $35.94.

Shares of NYSE WORK opened at $25.99 on Wednesday. Slack has a fifty-two week low of $21.25 and a fifty-two week high of $42.00. The company’s 50-day moving average is $26.18.

In other Slack news, CTO Cal Henderson sold 1,500 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $21.98, for a total transaction of $32,970.00. Also, CFO Allen Shim sold 31,795 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $30.65, for a total value of $974,516.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 301,858 shares of company stock worth $8,452,813.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Meadow Creek Investment Management LLC acquired a new stake in Slack during the 2nd quarter worth about $25,000. Sterling Investment Advisors Ltd. acquired a new stake in Slack during the 2nd quarter worth about $28,000. Neuburgh Advisers LLC acquired a new stake in Slack during the 2nd quarter worth about $35,000. Griffin Asset Management Inc. acquired a new stake in Slack during the 2nd quarter worth about $37,000. Finally, Gables Capital Management Inc. acquired a new stake in Slack during the 2nd quarter worth about $38,000. Hedge funds and other institutional investors own 19.35% of the company’s stock.

Slack Company Profile

Slack Technologies, Inc operates Slack, a business technology software platform in the United States and internationally. Its platform brings together people, applications, and data, as well as sells its offering under a software-as-a-service model. The company was formerly known as Tiny Speck, Inc and changed its name to Slack Technologies, Inc in 2014.

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Analyst Recommendations for Slack (NYSE:WORK)

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