Slack Downgraded by Morgan Stanley on Intensified Competition [TheStreet.com]
Slack Technologies, Inc. (WORK)
Last slack technologies, inc. earnings: 3/12 04:15 pm
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Source: TheStreet.com
Slack Technologies(WORKGet ReportHe cited “a fading positioning versus an intensifying competitive landscape." Slack “remains challenged in proving its differentiation for information worker use cases,” Weiss wrote in a commentary.Slack recently traded at $29.27, down 5%. The stock has climbed 37% so far this year.“Massive” demand for work-from-home services, have granted “an outsized share of the Covid spending rush” to MicrosoftMSFTZMSlack is vulnerable after the rise in its stock price this year, he said. There is “potential for consensus FY22 and FY23 revenue and billing estimates to move lower,” he said.Morningstar analyst Dan Romanoff offered a mixed assessment of Slack after its earnings report last month.“No-moat Slack beat our expectations and its own guidance and raised its revenue outlook for the year,” he wrote. “Unfortunately for management, revenue guidance that is in line with Street expectations may not be enough to quench investors’ thirst for growth.”Although it “see
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