"We see an equal opportunity for both Slack and Microsoft Teams to grow as alternatives to traditional e-mail and argue a duopoly-like market structure could form around the two most popular messaging-centric inplatforms at maturity," KeyBanc Capital Markets analysts led by Brent Bracelin wrote in a note to clients on Aug. 25.
Slack's uptime — a measure of how frequently the service is operating normally — slipped below 99.9% in June and July, wrote the KeyBanc analysts, who recommend buying the stock. Slack provides customers with credits for future use when uptime is below 99.99%. Those credits can impact revenue. Slack said its revenue for the quarter was negatively impacted by $8.2 million of credits.
For the fiscal third quarter, Slack is calling for a loss of 8 cents to 9 cents per share, excluding certain items, and $154 million to $156 million in revenue, reflecting 46% to 48% revenue growth. Analysts polled by Refinitiv had expected Slack to forecast a fiscal third-quarter loss of 7 cents per share, excluding certain items, on $153.2 million in revenue.
Slack is looking for a loss of 40 cents to 42 cents for the full year, excluding certain items, and $603 million to $610 million in revenue. Analysts were expecting a full-year loss of 40 cents for the full year, excluding certeain items, on revenue of $601 million. shares surged 49% in their debut on June 20 from a reference price of $26 to a close of $38.62. Since then, the stock is down about 20%.WATCH:
why no mention of $MDB $CLDR and $panw earnings?
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