Workiva (NYSE:WK) Issues Q3 Earnings Guidance

Workiva (NYSE:WK) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of $0.22-0.24 for the period, compared to the consensus EPS estimate of $0.25. The company issued revenue guidance of $182-183 million, compared to the consensus revenue estimate of $180.49 million. Workiva also updated its FY24 guidance to $0.94-0.98 EPS.

Analyst Upgrades and Downgrades

WK has been the subject of a number of recent research reports. Robert W. Baird lowered their price objective on shares of Workiva from $105.00 to $94.00 and set an outperform rating for the company in a report on Thursday, June 27th. BMO Capital Markets reaffirmed an outperform rating and issued a $96.00 target price on shares of Workiva in a research note on Tuesday, June 11th. William Blair reaffirmed an outperform rating on shares of Workiva in a research note on Friday, May 3rd. StockNews.com raised shares of Workiva from a hold rating to a buy rating in a research note on Thursday, July 25th. Finally, Citigroup lifted their target price on shares of Workiva from $103.00 to $105.00 and gave the stock a buy rating in a research note on Friday, June 28th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $105.14.

Workiva Price Performance

Workiva stock traded down $1.22 during mid-day trading on Thursday, reaching $72.55. 783,031 shares of the company traded hands, compared to its average volume of 381,566. The firm’s 50 day moving average price is $74.03 and its 200 day moving average price is $81.89. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of -42.52 and a beta of 1.07. Workiva has a 52-week low of $69.40 and a 52-week high of $116.00.

Workiva (NYSE:WK) last issued its quarterly earnings data on Thursday, May 2nd. The software maker reported ($0.19) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.19). The company had revenue of $175.67 million for the quarter, compared to analysts’ expectations of $173.85 million. On average, sell-side analysts anticipate that Workiva will post -0.62 EPS for the current year.

Insider Transactions at Workiva

In other news, EVP Michael D. Hawkins sold 3,435 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $81.46, for a total value of $279,815.10. Following the sale, the executive vice president now directly owns 55,487 shares of the company’s stock, valued at approximately $4,519,971.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.86% of the company’s stock.

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.