Zacks: Analysts Anticipate Workiva Inc. (NYSE:WK) Will Post Earnings of -$0.11 Per Share

Analysts predict that Workiva Inc. (NYSE:WK) will report ($0.11) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Workiva’s earnings. The highest EPS estimate is ($0.10) and the lowest is ($0.12). Workiva reported earnings of $0.04 per share in the same quarter last year, which indicates a negative year over year growth rate of 375%. The company is scheduled to announce its next quarterly earnings report on Wednesday, November 3rd.

On average, analysts expect that Workiva will report full-year earnings of ($0.07) per share for the current fiscal year, with EPS estimates ranging from ($0.08) to ($0.05). For the next fiscal year, analysts expect that the company will post earnings of $0.00 per share, with EPS estimates ranging from ($0.14) to $0.07. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Workiva.

Workiva (NYSE:WK) last released its quarterly earnings results on Tuesday, August 3rd. The software maker reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.31. Workiva had a negative return on equity of 36.88% and a negative net margin of 9.03%. The business had revenue of $105.59 million during the quarter, compared to analyst estimates of $101.59 million.

Several research firms have issued reports on WK. William Blair reissued a “buy” rating on shares of Workiva in a report on Wednesday, August 4th. Truist upped their price objective on Workiva from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, August 4th. Truist Securities upped their price objective on Workiva from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, August 4th. Finally, Zacks Investment Research raised Workiva from a “sell” rating to a “hold” rating in a research note on Tuesday, August 10th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $110.63.

In other Workiva news, Director Michael M. Crow sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 24th. The stock was sold at an average price of $136.43, for a total transaction of $682,150.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Brandon Ziegler sold 8,252 shares of the company’s stock in a transaction that occurred on Thursday, August 19th. The shares were sold at an average price of $132.42, for a total value of $1,092,729.84. Following the sale, the vice president now owns 69,253 shares in the company, valued at $9,170,482.26. The disclosure for this sale can be found here. Insiders sold 795,672 shares of company stock worth $100,669,538 over the last quarter. 12.25% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new position in shares of Workiva during the second quarter valued at approximately $37,000. Advisors Asset Management Inc. bought a new position in Workiva in the second quarter worth approximately $43,000. Stonebridge Capital Advisors LLC bought a new position in Workiva in the first quarter worth approximately $41,000. Dark Forest Capital Management LP bought a new position in Workiva in the second quarter worth approximately $67,000. Finally, FORA Capital LLC grew its stake in Workiva by 28.6% in the first quarter. FORA Capital LLC now owns 1,088 shares of the software maker’s stock worth $96,000 after purchasing an additional 242 shares in the last quarter. 76.28% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:WK traded up $3.14 during mid-day trading on Tuesday, hitting $150.52. 321,698 shares of the company traded hands, compared to its average volume of 368,379. The stock’s fifty day moving average price is $134.10 and its 200-day moving average price is $110.23. Workiva has a one year low of $52.81 and a one year high of $151.40. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 4.30. The firm has a market cap of $7.59 billion, a price-to-earnings ratio of -209.05 and a beta of 1.48.

About Workiva

Workiva, Inc engages in the provision of cloud-based compliance and regulatory reporting solutions that are designed to solve business challenges at the intersection of data, process and people. Its platform, Wdesk, offers controlled collaboration, data linking, data integrations, granular permissions, process management and a full audit trail.

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