Oppenheimer Begins Coverage on Slack (NASDAQ:WORK)

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Oppenheimer assumed coverage on shares of Slack (NASDAQ:WORK) in a research report sent to investors on Tuesday morning, The Fly reports. The brokerage issued a market perform rating and a $35.00 price objective on the stock. Oppenheimer also issued estimates for Slack’s Q2 2020 earnings at ($0.20) EPS, Q3 2020 earnings at ($0.07) EPS, Q4 2020 earnings at ($0.06) EPS, FY2020 earnings at ($0.43) EPS, Q1 2021 earnings at ($0.07) EPS, Q2 2021 earnings at ($0.07) EPS, Q3 2021 earnings at ($0.07) EPS, Q4 2021 earnings at ($0.05) EPS and FY2021 earnings at ($0.26) EPS.

Several other brokerages have also recently issued reports on WORK. Atlantic Securities began coverage on Slack in a research report on Wednesday, June 19th. They issued an overweight rating and a $37.00 price target on the stock. Robert W. Baird began coverage on Slack in a research report on Tuesday, June 25th. They issued an outperform rating and a $44.00 price target on the stock. Finally, DA Davidson boosted their price target on Slack to $31.00 and gave the company an average rating in a research report on Tuesday, June 11th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Slack presently has a consensus rating of Buy and a consensus price target of $38.00.

Shares of WORK stock opened at $35.00 on Tuesday. Slack has a 52-week low of $34.46 and a 52-week high of $42.00.

In other Slack news, Director Chamath Palihapitiya sold 1,017,067 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $38.99, for a total transaction of $39,655,442.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Parallel Fund Iv-A L.P. Ah sold 3,000,000 shares of the business’s stock in a transaction that occurred 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 sold a total of 6,896,311 shares of company stock worth $266,875,107 in the last 90 days.

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Analyst Recommendations for Slack (NASDAQ:WORK)

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