Technical Analysis: The Idea is to go long based on the ascending triangle and the previous bullish trend.
Fundamental Analysis - News 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.”
It's been pretty evident for months that MSFT is scared as heck about SLACK. Why else would MSFT have such an add campaign recently and keep boasting about there active user growth (which I seriously question as to how they measure that)?