Workiva (NYSE:WK) Updates FY 2024 Earnings Guidance

Workiva (NYSE:WK) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.940-0.980 for the period, compared to the consensus EPS estimate of 0.990. The company issued revenue guidance of $727.0 million-$729.0 million, compared to the consensus revenue estimate of $721.3 million. Workiva also updated its FY24 guidance to $0.94-0.98 EPS.

Workiva Price Performance

NYSE:WK traded down $0.36 during trading hours on Friday, reaching $72.19. 1,173,974 shares of the stock were exchanged, compared to its average volume of 483,739. Workiva has a twelve month low of $65.47 and a twelve month high of $116.00. The firm has a 50 day moving average of $73.73 and a 200 day moving average of $81.57. The stock has a market cap of $3.96 billion, a PE ratio of -41.97 and a beta of 1.07.

Workiva (NYSE:WK) last posted its quarterly earnings results on Thursday, May 2nd. The software maker reported ($0.19) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.19). The business had revenue of $175.67 million during the quarter, compared to the consensus estimate of $173.85 million. Equities research analysts anticipate that Workiva will post -0.62 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on WK. Citigroup boosted their price target on Workiva from $103.00 to $105.00 and gave the company a buy rating in a research note on Friday, June 28th. Northland Securities cut their price target on Workiva from $106.00 to $95.00 and set an outperform rating for the company in a research note on Friday. Robert W. Baird dropped their price objective on Workiva from $105.00 to $94.00 and set an outperform rating on the stock in a report on Thursday, June 27th. StockNews.com cut Workiva from a buy rating to a hold rating in a report on Saturday. Finally, BMO Capital Markets reissued an outperform rating and set a $96.00 price objective on shares of Workiva in a report on Tuesday, June 11th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Workiva has an average rating of Moderate Buy and a consensus target price of $102.29.

Insider Transactions at Workiva

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