Barclays Sticks to Their Buy Rating for Slack Technologies (WORK)

By Carrie Williams

In a report issued on March 13, Raimo Lenschow from Barclays maintained a Buy rating on Slack Technologies (WORKResearch Report), with a price target of $23.00. The company’s shares closed last Monday at $19.59, close to its 52-week low of $15.90.

According to, Lenschow is a top 100 analyst with an average return of 16.3% and a 66.8% success rate. Lenschow covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Ceridian HCM Holding, and Citrix Systems.

Currently, the analyst consensus on Slack Technologies is a Moderate Buy with an average price target of $26.18, which is a 24.5% upside from current levels. In a report issued on March 9, Monness also maintained a Buy rating on the stock with a $41.00 price target.

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Based on Slack Technologies’ latest earnings release for the quarter ending January 31, the company reported a quarterly GAAP net loss of $89 million. In comparison, last year the company had a GAAP net loss of $36.27 million.

Based on the recent corporate insider activity of 469 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WORK in relation to earlier this year.

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Slack Technologies, Inc. develops and publishes real-time collaboration applications and platforms. It provides engineering, sales, marketing, IT, project management and human resources solutions.