Workiva (NYSE:WK) Updates FY 2024 Earnings Guidance

Workiva (NYSE:WK) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 0.960-1.030 for the period, compared to the consensus EPS estimate of 0.600. The company issued revenue guidance of $719.0 million-$723.0 million, compared to the consensus revenue estimate of $720.8 million. Workiva also updated its Q2 2024 guidance to 0.160-0.190 EPS.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Citigroup decreased their target price on shares of Workiva from $110.00 to $95.00 and set a buy rating on the stock in a report on Tuesday, April 23rd. Stifel Nicolaus cut their target price on shares of Workiva from $92.00 to $85.00 and set a hold rating for the company in a report on Wednesday, February 21st. Finally, BMO Capital Markets cut their price target on shares of Workiva from $123.00 to $113.00 and set an outperform rating on the stock in a report on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $111.86.

Workiva Price Performance

WK stock traded up $0.60 during midday trading on Monday, reaching $82.28. The stock had a trading volume of 39,096 shares, compared to its average volume of 373,975. The business has a fifty day simple moving average of $82.33 and a two-hundred day simple moving average of $90.52. Workiva has a twelve month low of $76.63 and a twelve month high of $116.00.

Workiva (NYSE:WK) last issued its quarterly earnings results on Tuesday, February 20th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.10. The firm had revenue of $166.65 million during the quarter, compared to analyst estimates of $164.44 million. Research analysts expect that Workiva will post -0.84 EPS for the current year.

Workiva Company Profile

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.