Workiva (NYSE:WK) Issues FY 2024 Earnings Guidance

Workiva (NYSE:WK) updated its FY 2024 earnings guidance on Wednesday. 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.

Analysts Set New Price Targets

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

Workiva Stock Performance

Shares of WK traded up $3.26 during mid-day trading on Friday, hitting $94.75. The company’s stock had a trading volume of 806,193 shares, compared to its average volume of 375,192. The stock’s 50-day moving average is $78.71 and its two-hundred day moving average is $77.25. The firm has a market capitalization of $5.23 billion, a PE ratio of -102.99 and a beta of 1.05. Workiva has a one year low of $65.47 and a one year high of $105.00.

Workiva (NYSE:WK) last released its earnings results 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 company had revenue of $185.62 million for the quarter, compared to analysts’ expectations of $182.50 million. Analysts expect that Workiva will post -0.86 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael D. Hawkins sold 2,761 shares of the business’s 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 transaction, the executive vice president now directly owns 49,887 shares in the company, valued at $3,721,570.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.86% of the stock is owned by company 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.