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 also updated its FY 2024 guidance to 0.930-0.960 EPS.

Workiva Price Performance

NYSE:WK traded up $3.27 during trading hours on Friday, hitting $94.76. 806,193 shares of the company traded hands, compared to its average volume of 375,192. The firm’s 50-day simple moving average is $78.38 and its 200-day simple moving average is $77.14. Workiva has a one year low of $65.47 and a one year high of $105.00.

Workiva (NYSE:WK) last announced its earnings results on Wednesday, November 6th. The software maker reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.06). The firm had revenue of $185.62 million during the quarter, compared to analysts’ expectations of $182.50 million. As a group, analysts forecast that Workiva will post -0.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity

In other 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 in the company, valued at approximately $3,721,570.20. This trade represents 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. Corporate insiders own 3.86% of the company’s stock.

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.