William Blair Initiates Coverage on Slack (NASDAQ:WORK)

William Blair started coverage on shares of Slack (NASDAQ:WORK) in a research note published on Monday, BenzingaRatingsTable reports. The brokerage issued an outperform rating on the stock. William Blair also issued estimates for Slack’s Q1 2020 earnings at ($0.05) EPS, Q2 2020 earnings at ($0.13) EPS, Q3 2020 earnings at ($0.06) EPS, Q4 2020 earnings at ($0.06) EPS, FY2020 earnings at ($0.32) EPS, Q1 2021 earnings at ($0.08) EPS, Q2 2021 earnings at ($0.07) EPS, Q3 2021 earnings at ($0.08) EPS, Q4 2021 earnings at ($0.07) EPS and FY2021 earnings at ($0.30) EPS.

Other equities analysts have also issued reports about the stock. DA Davidson lifted their price objective on shares of Slack to $31.00 and gave the company an average rating in a report on Tuesday, June 11th. Stephens began coverage on shares of Slack in a report on Thursday, July 11th. They set an overweight rating and a $43.00 price objective on the stock. Oppenheimer lifted their price objective on shares of Valeritas from $1.25 to $12.00 and gave the company an outperform rating in a report on Tuesday, July 9th. Barclays set a $330.00 price target on shares of Thermo Fisher Scientific and gave the stock a buy rating in a report on Monday. Finally, Robert W. Baird assumed coverage on shares of Slack in a report on Tuesday, June 25th. They issued an outperform rating and a $44.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Slack presently has a consensus rating of Buy and a consensus target price of $38.78.

Shares of WORK stock opened at $32.00 on Monday. Slack has a 52-week low of $31.93 and a 52-week high of $42.00.

In other news, major shareholder Parallel Fund Iv-A L.P. Ah sold 3,000,000 shares of Slack stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $38.66, for a total transaction of $115,980,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stewart Butterfield sold 2,500 shares of Slack stock in a transaction on Monday, July 15th. The stock was sold at an average price of $34.49, for a total transaction of $86,225.00. The disclosure for this sale can be found here. Insiders sold 6,908,311 shares of company stock worth $267,290,507 over the last ninety days.

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