Stephens Releases a Buy Rating on Slack Technologies (WORK)

By Carrie Williams

In a report released today, Ryan MacWilliams from Stephens assigned a Buy rating to Slack Technologies (WORKResearch Report), with a price target of $32.00. The company’s shares closed last Monday at $25.88.

According to TipRanks.com, MacWilliams is a 4-star analyst with an average return of 12.2% and a 48.5% success rate. MacWilliams covers the Technology sector, focusing on stocks such as Zoom Video Communications, Everbridge, and Twilio.

Currently, the analyst consensus on Slack Technologies is a Moderate Buy with an average price target of $25.50, a -1.9% downside from current levels. In a report issued on March 13, Monness also maintained a Buy rating on the stock with a $31.00 price target.

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The company has a one-year high of $42.00 and a one-year low of $15.10. Currently, Slack Technologies has an average volume of 12.98M.

Based on the recent corporate insider activity of 487 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Slack Technologies, Inc. develops and publishes real-time collaboration applications and platforms. It provides engineering, sales, marketing, IT, project management and human resources solutions. The company was founded by Daniel Stewart Butterfield, Eric Costello, Callum James Henderson-Begg, and Serguei Mourachov in 2009 and is headquartered in San Francisco, CA.