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 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.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. BMO Capital Markets upped 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. Stifel Nicolaus boosted their price target on shares of Workiva from $85.00 to $102.00 and gave the company a “hold” rating in a report on Thursday. 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 note on Friday, August 2nd. StockNews.com cut shares of Workiva from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Finally, Robert W. Baird raised their target price on Workiva from $94.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $103.20.

Workiva Price Performance

WK traded up $3.26 on Friday, reaching $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 price-to-earnings ratio of -102.99 and a beta of 1.05. The stock’s 50 day moving average price is $78.71 and its 200-day moving average price is $77.25. Workiva has a 52-week low of $65.47 and a 52-week high of $105.00.

Workiva (NYSE:WK) last posted its quarterly earnings results 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 firm had revenue of $185.62 million for the quarter, compared to analyst estimates of $182.50 million. As a group, equities research analysts forecast that Workiva will post -0.86 earnings per share for the current fiscal year.

Insider Transactions at Workiva

In related news, EVP Michael D. Hawkins sold 2,761 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was 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 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 filing with the SEC, which can be accessed through this link. Company insiders own 3.86% of the company’s stock.

Workiva Company Profile

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.