Citigroup Initiates Coverage on Slack (NASDAQ:WORK)

Citigroup assumed coverage on shares of Slack (NASDAQ:WORK) in a research note released on Wednesday morning, Benzinga reports. The brokerage issued a neutral rating and a $34.40 price objective on the stock.

Other analysts also recently issued research reports about the company. DA Davidson raised their price target on Slack to $31.00 and gave the stock an average rating in a report on Tuesday, June 11th. Morgan Stanley cut their price target on Neon Therapeutics from $19.00 to $13.00 and set an overweight rating on the stock in a report on Tuesday, July 16th. Stephens assumed coverage on Slack in a report on Thursday, July 11th. They issued an overweight rating and a $43.00 price target on the stock. Robert W. Baird assumed coverage on Slack in a report on Tuesday, June 25th. They issued an outperform rating and a $44.00 price target on the stock. Finally, Barclays set a $330.00 price target on Thermo Fisher Scientific and gave the stock a buy rating in a report on Monday, July 15th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Slack has a consensus rating of Buy and a consensus price target of $38.78.

Shares of NASDAQ WORK opened at $31.30 on Wednesday. Slack has a 12-month low of $31.22 and a 12-month high of $42.00.

In related news, CEO Stewart Butterfield sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $33.95, for a total value of $84,875.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cal Henderson sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $33.97, for a total value of $50,955.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,912,311 shares of company stock worth $267,426,387.

A number of institutional investors and hedge funds have recently bought and sold shares of WORK. Winslow Evans & Crocker Inc. acquired a new stake in Slack in the 2nd quarter valued at approximately $38,000. SeaCrest Wealth Management LLC acquired a new stake in Slack in the 2nd quarter valued at approximately $225,000. Commonwealth Equity Services LLC acquired a new stake in Slack in the 2nd quarter valued at approximately $1,083,000. Finally, Bessemer Group Inc. acquired a new stake in Slack in the 2nd quarter valued at approximately $1,358,000.

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Analyst Recommendations for Slack (NASDAQ:WORK)

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