Canaccord Genuity analyst David Hynes downgraded Slack Technologies (WORK) to Hold today and set a price target of $45.00. The company’s shares closed last Tuesday at $43.84.
According to TipRanks.com, Hynes is a top 25 analyst with an average return of 35.7% and a 78.5% success rate. Hynes covers the Technology sector, focusing on stocks such as ZoomInfo Technologies, BigCommerce Holdings, and Bill.com Holdings.
Currently, the analyst consensus on Slack Technologies is a Moderate Buy with an average price target of $32.25, implying a -24.7% downside from current levels. In a report issued on November 23, KeyBanc also initiated coverage with a Hold rating on the stock.
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Slack Technologies’ market cap is currently $23.22B and has a P/E ratio of -91.20. The company has a Price to Book ratio of 32.39.
Based on the recent corporate insider activity of 359 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.
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