Replies to post #82 on Slack Technologies, Inc. (WORK)

[JohnCM]

Software stocks slip on IBM's headwinds

Apr. 21, 2020
About: International Business Mach(IBM)|
By: Brandy Betz, SA News Editor

During yesterday's Q1 call, IBM (IBM -3.1%) management mentioned a "pause" in client spending last month that was most pronounced in the software segment.

Other software names seeing red include Fortinet (FTNT -7.8%), Cloudflare (NET -6.2%), Slack (WORK -6.5%), Salesforce (CRM -5.6%), and Oracle (ORCL -3.9%).

Related software ETFs: IGV, PSJ, XSW

[JohnCM]

When will SLACK be profitable?

More than 95,000 organizations are paying for subscription plans, as of April 30, 2019. Slack generated revenue of $400.6 million in the year ended Jan. 31, 2019, an 82% increase from the previous year, but growth is slowing. Slack is still not profitable and posted a net loss of $138.9 million in FY 2019.

[JohnCM]

Funny. No one is noticing.

[JohnCM]

HOLD

[JohnCM]

Break out!