Workiva (NYSE:WK) Releases FY 2024 Earnings Guidance

Workiva (NYSE:WK) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.930-0.960 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

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

Workiva Trading Up 3.6 %

WK traded up $3.26 during trading on Friday, hitting $94.75. 806,193 shares of the company traded hands, compared to its average volume of 375,192. The company has a market cap of $5.23 billion, a PE ratio of -102.99 and a beta of 1.05. The stock’s 50-day simple moving average is $78.71 and its two-hundred day simple moving average is $77.23. Workiva has a 1 year low of $65.47 and a 1 year high of $105.00.

Workiva (NYSE:WK) last released its quarterly earnings data on Wednesday, November 6th. The software maker reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.06). The business had revenue of $185.62 million for the quarter, compared to analyst estimates of $182.50 million. Equities analysts expect that Workiva will post -0.86 EPS for the current year.

Insider Buying and Selling

In other Workiva news, EVP Michael D. Hawkins sold 2,761 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $3,721,570.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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.