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Slack Technologies (NYSE:WORK) will report its fiscal 2021, Q1 results after the market close on Thursday, June 4. Analysts are projecting -$0.04 a share profit on sales of $254 million.
Slack, whose platform makes it easy for offsite workers to communicate and coordinate work documents, is another beneficiary of the virus-driven escalation in people working from home.
Its stock, which closed on Friday at $35. 05 , has gained 56% this year, even after a sharp decline in March. Still, some analysts have doubts about its long-term prospects.
It faces strong competition from Microsoft’s (NASDAQ:MSFT) rival Teams product.
“No investor doubts Slack’s cult-like product portfolio and impressive growth trajectory,” Wedbush analyst Daniel Ives said in a recent note. “The issue comes down to its long-term growth profile” with Microsoft CEO Satya Nadella “laser-focused on its Teams and the Office 365 opportunity.”