Workiva (NYSE:WK) Issues FY24 Earnings Guidance

Workiva (NYSE:WK) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.93-$0.96 for the period, compared to the consensus EPS estimate of $0.96. The company issued revenue guidance of $733-$735 million, compared to the consensus revenue estimate of $728.11 million.

Workiva Stock Performance

WK traded up $5.16 during trading on Wednesday, hitting $87.63. 995,735 shares of the stock were exchanged, compared to its average volume of 370,419. The firm has a 50 day simple moving average of $77.92 and a 200 day simple moving average of $76.97. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of -49.98 and a beta of 1.05. Workiva has a 1 year low of $65.47 and a 1 year high of $105.00.

Analysts Set New Price Targets

WK has been the topic of several research reports. Northland Securities reduced their price objective on Workiva from $106.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. StockNews.com downgraded Workiva from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.00.

Insiders Place Their Bets

In other Workiva news, EVP Michael D. Hawkins sold 2,761 shares of Workiva stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.60, for a total transaction of $205,970.60. Following the completion of the sale, the executive vice president now owns 49,887 shares of the company’s stock, 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 link. 3.86% of the stock is currently owned by 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.