Workiva (NYSE:WK) Updates FY 2024 Earnings Guidance

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

Analyst Upgrades and Downgrades

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

Workiva Trading Up 3.6 %

WK traded up $3.26 during midday 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 capitalization of $5.23 billion, a price-to-earnings ratio of -102.99 and a beta of 1.05. Workiva has a 52-week low of $65.47 and a 52-week high of $105.00. The business has a 50 day simple moving average of $78.71 and a two-hundred day simple moving average of $77.23.

Workiva (NYSE:WK) last issued its earnings results on Wednesday, November 6th. The software maker reported ($0.29) EPS 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. Equities research analysts anticipate that Workiva will post -0.86 earnings per share for the current year.

Insider Activity

In other news, EVP Michael D. Hawkins sold 2,761 shares of the 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 in the company, valued at $3,721,570.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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.