Workiva (NYSE:WK) Updates FY 2024 Earnings Guidance

Workiva (NYSE:WK) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.930-0.960 for the period, compared to the consensus earnings per share estimate of 0.960. The company issued revenue guidance of $733.0 million-$735.0 million, compared to the consensus revenue estimate of $728.1 million. Workiva also updated its FY24 guidance to $0.93-$0.96 EPS.

Analyst Ratings Changes

Several equities analysts have issued reports on WK shares. StockNews.com cut shares of Workiva from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Robert W. Baird upped their price target on shares of Workiva from $94.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday. BMO Capital Markets upped their price target on shares of Workiva from $96.00 to $104.00 and gave the company an “outperform” rating in a research report on Thursday. Stifel Nicolaus upped their price target on shares of Workiva from $85.00 to $102.00 and gave the company a “hold” rating in a research report on Thursday. Finally, Northland Securities decreased their price objective on shares of Workiva from $106.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.20.

Workiva Stock Up 3.6 %

NYSE:WK traded up $3.26 during trading hours on Friday, reaching $94.75. The company had a trading volume of 806,193 shares, compared to its average volume of 375,192. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of -102.99 and a beta of 1.05. The business’s 50-day simple moving average is $78.71 and its two-hundred day simple moving average is $77.25. Workiva has a twelve month low of $65.47 and a twelve month high of $105.00.

Workiva (NYSE:WK) last released its quarterly earnings data on Wednesday, November 6th. The software maker reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.06). The business had revenue of $185.62 million for the quarter, compared to analysts’ expectations of $182.50 million. As a group, equities analysts predict that Workiva will post -0.86 earnings per share for the current year.

Insider Activity at Workiva

In other news, EVP Michael D. Hawkins sold 2,761 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.60, for a total value of $205,970.60. Following the completion of the sale, the executive vice president now directly owns 49,887 shares in the company, valued at approximately $3,721,570.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.86% of the stock is owned by corporate insiders.

About Workiva

Workiva Inc, together with its subsidiaries, provides cloud-based reporting solutions in the United States and internationally. The company offers Workiva platform, a multi-tenant cloud software that provides data linking capabilities; audit trail services; administrators access management; and allows customers to connect data from multiple enterprise resource planning, human capital management, and customer relationship management systems, as well as other third-party cloud and on-premise applications.