Workiva (NYSE:WK) Issues FY24 Earnings Guidance

Workiva (NYSE:WK) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.93-$0.96 for the period, compared to the consensus earnings per share 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 Trading Up 3.6 %

NYSE WK traded up $3.27 during trading on Friday, reaching $94.76. The company’s stock had a trading volume of 806,193 shares, compared to its average volume of 375,192. Workiva has a twelve month low of $65.47 and a twelve month high of $105.00. The business’s fifty day moving average price is $78.38 and its 200-day moving average price is $77.14.

Workiva (NYSE:WK) last posted its quarterly earnings data 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 business had revenue of $185.62 million for the quarter, compared to the consensus estimate of $182.50 million. Analysts expect that Workiva will post -0.86 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on WK shares. StockNews.com lowered shares of Workiva from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Robert W. Baird boosted 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 boosted 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 stock a “hold” rating in a research note on Thursday. Finally, Northland Securities dropped their price target 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. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Workiva presently has a consensus rating of “Moderate Buy” and an average target price of $103.20.

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 shares were sold at an average price of $74.60, for a total transaction of $205,970.60. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.86% of the stock is owned by insiders.

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.