Workiva (NYSE:WK) Updates 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 Price Performance

NYSE:WK traded up $3.27 during mid-day trading on Friday, hitting $94.76. 806,193 shares of the stock traded hands, compared to its average volume of 375,192. The business’s 50-day moving average price is $78.38 and its 200 day moving average price is $77.14. Workiva has a 12-month low of $65.47 and a 12-month high of $105.00.

Workiva (NYSE:WK) last issued its quarterly earnings data 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 the consensus estimate of $182.50 million. As a group, sell-side analysts forecast that Workiva will post -0.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WK. Stifel Nicolaus lifted their target price on shares of Workiva from $85.00 to $102.00 and gave the company a “hold” rating in a research report on Thursday. Robert W. Baird lifted their target price on shares of Workiva from $94.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday. Northland Securities dropped their target price on shares of Workiva from $106.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. StockNews.com lowered shares of Workiva from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Finally, BMO Capital Markets boosted their price objective on shares of Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $103.20.

Insider Transactions at Workiva

In related news, EVP Michael D. Hawkins sold 2,761 shares of Workiva stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.60, for a total value of $205,970.60. Following the transaction, the executive vice president now directly owns 49,887 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available through this link. Company 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.