Zacks: Analysts Anticipate Workiva Inc (NYSE:WK) Will Post Earnings of -$0.16 Per Share

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Wall Street brokerages forecast that Workiva Inc (NYSE:WK) will announce ($0.16) earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have provided estimates for Workiva’s earnings, with estimates ranging from ($0.17) to ($0.16). Workiva posted earnings per share of ($0.09) during the same quarter last year, which indicates a negative year over year growth rate of 77.8%. The company is scheduled to announce its next earnings results on Wednesday, November 6th.

According to Zacks, analysts expect that Workiva will report full-year earnings of ($0.27) per share for the current fiscal year, with EPS estimates ranging from ($0.28) to ($0.27). For the next financial year, analysts forecast that the business will post earnings of ($0.11) per share, with EPS estimates ranging from ($0.28) to $0.13. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Workiva.

Workiva (NYSE:WK) last announced its quarterly earnings data on Tuesday, August 6th. The software maker reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.08). The firm had revenue of $73.48 million for the quarter, compared to the consensus estimate of $68.96 million. During the same period in the previous year, the business posted ($0.12) earnings per share. Workiva’s revenue for the quarter was up 24.3% on a year-over-year basis.

A number of analysts have recently issued reports on WK shares. ValuEngine cut shares of Workiva from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research upgraded shares of Workiva from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Friday, July 5th. Finally, SunTrust Banks raised their target price on shares of Workiva to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. Workiva currently has an average rating of “Buy” and a consensus price target of $46.83.

In other Workiva news, CEO Martin J. Vanderploeg sold 25,000 shares of Workiva stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $62.14, for a total value of $1,553,500.00. Following the completion of the sale, the chief executive officer now owns 314,918 shares in the company, valued at approximately $19,569,004.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Matthew M. Rizai sold 66,585 shares of Workiva stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $53.00, for a total transaction of $3,529,005.00. Following the completion of the sale, the insider now owns 260,011 shares of the company’s stock, valued at approximately $13,780,583. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 201,585 shares of company stock valued at $11,385,855. 18.46% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Workiva by 22.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,519,224 shares of the software maker’s stock worth $204,432,000 after purchasing an additional 637,742 shares in the last quarter. BlackRock Inc. increased its holdings in Workiva by 15.1% in the 2nd quarter. BlackRock Inc. now owns 2,670,615 shares of the software maker’s stock valued at $155,135,000 after buying an additional 349,527 shares during the period. Renaissance Technologies LLC increased its holdings in Workiva by 8.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,767,400 shares of the software maker’s stock valued at $102,668,000 after buying an additional 132,998 shares during the period. Nuveen Asset Management LLC bought a new position in Workiva in the 2nd quarter valued at about $32,808,000. Finally, Northern Trust Corp increased its holdings in Workiva by 2.1% in the 2nd quarter. Northern Trust Corp now owns 461,842 shares of the software maker’s stock valued at $26,828,000 after buying an additional 9,429 shares during the period. Institutional investors and hedge funds own 52.33% of the company’s stock.

Shares of WK traded down $2.09 during midday trading on Thursday, reaching $49.51. The stock had a trading volume of 44,302 shares, compared to its average volume of 268,601. The company’s 50 day simple moving average is $59.02. Workiva has a one year low of $30.35 and a one year high of $64.11. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of -53.98 and a beta of 0.96. The company has a debt-to-equity ratio of 3.80, a quick ratio of 1.00 and a current ratio of 1.00.

Workiva Company Profile

Workiva Inc provides cloud-based solutions for connected data, reporting, and compliance worldwide. The company offers Wdesk, a platform that provides data collection and linking, data integrations, controlled collaboration, granular permissions, process management, and full audit trail services; and Wdata, which includes data preparation tools, data connectors, and application programming interfaces that enable customers to create direct connections to their data.

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