It has been a turbulent year for Slack ($WORK), but the workplace productivity software company has seen shares more than double off the 2020 lows and today, June 4, with earnings on the way, Slack stock is nearing all-time highs.
When it announces results after the bell, analysts tracked by Zacks Investment Research are looking for EPS losses of -$0.14 - then again, based on Zoom's trajectory, and its outperformance at earnings, Slack could turn in a surprising beat.
There's no shortage of growth stories on the market in the tech sector, that has not correlated to growth in job postings as the US economy looks to reawaken from a weeks-long hibernation. Job postings for Slack are up 35% YTD, however.
Last month, we traced Slack's bounce-back and noted rising headcount even as job postings dipped down a little. That's still the case - and headcount has risen nearly 9% so far in 2020, according to Slack's LinkedIn Headcount.
Slack's Google Play Store Ratings Count has always been on the up, and pretty impressive - but once the pandemic set in, as you can gauge in our chart above, engagement truly began to take off. However, unlike Zoom, Slack's rating is sub 4.5/5 and declining.
With many employers' plans to keep staffers working at home into the fourth quarter of 2020 - some, beyond - Slack has time to both add to its Ratings Count, and to reverse the downtrend on its score. And, for now, it has an opportunity to be one of 2020's hot stocks.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales, and app ratings - and creates data sets that measure factors like hiring, revenue, and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.
