Slack (NASDAQ:WORK) Coverage Initiated by Analysts at Monness Crespi & Hardt

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Monness Crespi & Hardt started coverage on shares of Slack (NASDAQ:WORK) in a research report released on Monday, August 26th, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $39.00 price objective on the stock.

Several other research analysts have also issued reports on WORK. Sanford C. Bernstein initiated coverage on shares of Slack in a research report on Wednesday, August 14th. They issued a market perform rating and a $31.00 price target for the company. Barclays initiated coverage on shares of Slack in a research report on Monday, July 15th. They issued an overweight rating and a $45.00 price target for the company. Atlantic Securities initiated coverage on shares of Slack in a research report on Wednesday, June 19th. They issued an overweight rating and a $37.00 price target for the company. Credit Suisse Group initiated coverage on shares of Slack in a research report on Tuesday, July 16th. They issued a neutral rating and a $40.00 price target for the company. Finally, Oppenheimer initiated coverage on shares of Slack in a research report on Tuesday, July 9th. They issued a market perform rating and a $35.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. Slack currently has an average rating of Hold and a consensus price target of $36.75.

Shares of WORK traded down $0.51 during trading hours on Monday, reaching $25.71. 5,508,138 shares of the company traded hands, compared to its average volume of 7,568,746. The firm has a fifty day moving average of $29.35. Slack has a 1-year low of $23.93 and a 1-year high of $42.00.

In other Slack news, CEO Stewart Butterfield sold 1,360,909 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $39.07, for a total value of $53,170,714.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel David Schellhase sold 349,339 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $38.28, for a total transaction of $13,372,696.92. The disclosure for this sale can be found here. Insiders have sold 7,143,654 shares of company stock worth $274,556,591 over the last three months.

A number of hedge funds have recently made changes to their positions in the business. Meadow Creek Investment Management LLC bought a new position in Slack in the second quarter valued at approximately $25,000. Sterling Investment Advisors Ltd. bought a new position in shares of Slack during the second quarter worth $28,000. Neuburgh Advisers LLC bought a new position in shares of Slack during the second quarter worth $35,000. Winslow Evans & Crocker Inc. bought a new position in shares of Slack during the second quarter worth $38,000. Finally, Gables Capital Management Inc. bought a new position in shares of Slack during the second quarter worth $38,000.

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Analyst Recommendations for Slack (NASDAQ:WORK)

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