Slack (NASDAQ:WORK) PT Lowered to $38.00 at MKM Partners

Slack (NASDAQ:WORK) had its target price lowered by stock analysts at MKM Partners from $40.00 to $38.00 in a research note issued to investors on Thursday, September 5th, The Fly reports. The firm presently has a “buy” rating on the stock. MKM Partners’ price objective suggests a potential upside of 48.32% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Sanford C. Bernstein assumed coverage on shares of Slack in a research note on Wednesday, August 14th. They set a “market perform” rating and a $31.00 target price for the company. Canaccord Genuity assumed coverage on shares of Slack in a research note on Monday, July 15th. They set a “buy” rating and a $40.00 target price for the company. William Blair initiated coverage on shares of Slack in a research note on Monday, July 15th. They set an “outperform” rating for the company. Robert W. Baird initiated coverage on shares of Slack in a report on Tuesday, June 25th. They set an “outperform” rating and a $44.00 price target for the company. Finally, Zacks Investment Research cut shares of Slack from a “hold” rating to a “sell” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $36.75.

NASDAQ WORK opened at $25.62 on Thursday. Slack has a 1 year low of $23.93 and a 1 year high of $42.00. The company has a fifty day moving average of $30.37.

Slack (NASDAQ:WORK) last announced its earnings results on Monday, June 10th. The company reported ($0.26) earnings per share for the quarter. The firm had revenue of $134.82 million for the quarter.

In other Slack news, CTO Cal Henderson sold 1,500 shares of Slack stock in a transaction on Monday, September 9th. The shares were sold at an average price of $25.41, for a total value of $38,115.00. Also, General Counsel David Schellhase sold 349,339 shares of Slack stock in a transaction on Friday, June 21st. The shares were sold at an average price of $38.28, for a total transaction of $13,372,696.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,135,654 shares of company stock worth $274,353,811.

Several institutional investors and hedge funds have recently made changes to their positions in WORK. Winslow Evans & Crocker Inc. acquired a new position in shares of Slack in the 2nd quarter valued at $38,000. Commonwealth Equity Services LLC purchased a new position in shares of Slack in the 2nd quarter valued at $1,083,000. Bessemer Group Inc. purchased a new position in shares of Slack in the 2nd quarter valued at $1,358,000. SeaCrest Wealth Management LLC purchased a new position in shares of Slack in the 2nd quarter valued at $225,000. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of Slack in the 2nd quarter valued at $41,000.

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Analyst Recommendations for Slack (NASDAQ:WORK)

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