Opinions Gerard Ferguson
SlackWORKBUY ON WEAKNESSJul 22, 2019
Gerard FergusonStock price when the opinion was issued
As of Jul 20, 2021. Market Open.
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Mission is to eliminate email, to lead to higher productivity. Interesting product. Being acquired by Salesforce, in a huge deal. He worries about competition from MSFT Teams. Post-pandemic, businesses are going to be consolidating and eliminating vendors.
It can't get any traction. It should be a natural work-from-home stock. True, it popped from $15 to $40 between March and June, but then lagged other work-cloud stocks because Wall Street feared too much competition in this space. Last month, Slack reported a solid top and bottom, except billings and net retention rate (additional business from existing customers). He thought these numbers were fine, but Wall Street didn't. Yes, there's competition--his own poll show that Slack is being clobbered by competition from Microsoft Teams.
It can't get any traction. It should be a natural work-from-home stock. True, it popped from $15 to $40 between March and June, but then lagged other work-cloud stocks because Wall Street feared too much competition in this space. Last month, Slack reported a solid top and bottom, except billings and net retention rate (additional business from existing customers). He thought these numbers were fine, but Wall Street didn't. Yes, there's competition--his own poll show that Slack is being clobbered by competition from Microsoft Teams.
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Premium contentStockchase Research Editor: Michael O'Reilly Work-from-home is an emerging trend that will likely continue post-pandemic and WORK is a leader in the space although it has taken a pullback lately. The company has launched an antitrust suite in the EU against Microsoft citing an unfair bundling of its products, which may be holding share value down a little. Its recent earnings report showed revenues being up 50%, with paid customers up almost 30% and gross margins of almost 90%. We would look to enter in a further pullback towards $26.00 Yield 0%
The company behind the workplace chat app filed with the Securities and Exchange Commission revealed plans to list on the New York Stock Exchange under the SK symbol.
Editor
They just went public to a lot of fanfare. Since then, the stock has pulled back, because Microsoft responded with an app, Teams. Slack's software is better than Microsoft's, and many users are already content or ecstatic with Slack. He will add to his position.