Workiva (NYSE:WK) Updates Q3 2024 Earnings Guidance

Workiva (NYSE:WK) updated its third quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.220-0.240 for the period, compared to the consensus EPS estimate of 0.250. The company issued revenue guidance of $182.0 million-$183.0 million, compared to the consensus revenue estimate of $180.5 million. Workiva also updated its FY 2024 guidance to 0.940-0.980 EPS.

Workiva Stock Down 0.5 %

Shares of WK stock traded down $0.36 during trading hours on Friday, reaching $72.19. 1,173,974 shares of the stock traded hands, compared to its average volume of 483,739. The firm has a market capitalization of $3.96 billion, a PE ratio of -41.97 and a beta of 1.07. Workiva has a 1-year low of $65.47 and a 1-year high of $116.00. The business has a fifty day moving average price of $73.73 and a 200 day moving average price of $81.57.

Workiva (NYSE:WK) last announced its earnings results on Thursday, May 2nd. The software maker reported ($0.19) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.19). The firm had revenue of $175.67 million for the quarter, compared to analyst estimates of $173.85 million. Research analysts expect that Workiva will post -0.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WK has been the subject of a number of research reports. Citigroup raised their price objective on Workiva from $103.00 to $105.00 and gave the stock a buy rating in a research report on Friday, June 28th. BMO Capital Markets reiterated an outperform rating and issued a $96.00 price objective on shares of Workiva in a research note on Tuesday, June 11th. Robert W. Baird lowered their price target on shares of Workiva from $105.00 to $94.00 and set an outperform rating on the stock in a report on Thursday, June 27th. 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. Finally, StockNews.com cut Workiva from a buy rating to a hold rating in a research report on Saturday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Workiva currently has an average rating of Moderate Buy and an average target price of $102.29.

Insider Buying and Selling

In other Workiva news, EVP Michael D. Hawkins sold 3,435 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $81.46, for a total transaction of $279,815.10. Following the transaction, the executive vice president now owns 55,487 shares in the company, valued at $4,519,971.02. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate 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.