Slack (NASDAQ:WORK) Earns Neutral Rating from Analysts at Mizuho

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Mizuho began coverage on shares of Slack (NASDAQ:WORK) in a report issued on Thursday morning, 24/7 WallStreet reports. The firm issued a neutral rating and a $26.00 price objective on the stock.

Several other research analysts have also commented on the company. Robert W. Baird initiated coverage on Slack in a report on Tuesday, June 25th. They set an outperform rating and a $44.00 price target on the stock. William Blair initiated coverage on Slack in a report on Monday, July 15th. They set an outperform rating on the stock. Canaccord Genuity initiated coverage on Slack in a report on Monday, July 15th. They set a buy rating and a $40.00 price target on the stock. Sanford C. Bernstein initiated coverage on Slack in a report on Wednesday, August 14th. They set a market perform rating and a $31.00 price target on the stock. Finally, Citigroup reduced their price target on Slack from $39.00 to $27.00 and set a neutral rating on the stock in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $36.75.

NASDAQ WORK opened at $24.49 on Thursday. Slack has a 52 week low of $23.93 and a 52 week high of $42.00. The business’s fifty day moving average is $30.18.

In related news, insider Cal Henderson sold 1,500 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $36.23, for a total value of $54,345.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Parallel Fund Iv-A L.P. Ah sold 3,000,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $38.66, for a total transaction of $115,980,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,135,654 shares of company stock worth $274,353,811.

Institutional investors and hedge funds have recently modified their holdings of the stock. Meadow Creek Investment Management LLC purchased a new stake in Slack during the second quarter worth about $25,000. Sterling Investment Advisors Ltd. purchased a new stake in Slack during the second quarter worth about $28,000. Neuburgh Advisers LLC purchased a new stake in Slack during the second quarter worth about $35,000. Winslow Evans & Crocker Inc. purchased a new stake in Slack during the second quarter worth about $38,000. Finally, Gables Capital Management Inc. purchased a new stake in Slack during the second quarter worth about $38,000.

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Analyst Recommendations for Slack (NASDAQ:WORK)

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