Workiva (NYSE:WK) Issues Q2 2024 Earnings Guidance

Workiva (NYSE:WK) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided EPS guidance of 0.160-0.190 for the period, compared to the consensus EPS estimate of 0.130. The company issued revenue guidance of $174.0 million-$176.0 million, compared to the consensus revenue estimate of $177.2 million. Workiva also updated its FY 2024 guidance to 0.960-1.030 EPS.

Workiva Price Performance

NYSE:WK traded up $0.58 on Monday, reaching $82.26. 60,591 shares of the company’s stock traded hands, compared to its average volume of 374,296. Workiva has a 12 month low of $76.63 and a 12 month high of $116.00. The stock has a 50-day simple moving average of $82.33 and a 200-day simple moving average of $90.52.

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

Analysts Set New Price Targets

A number of research firms have weighed in on WK. Citigroup reduced 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. BMO Capital Markets dropped their target price on shares of Workiva from $123.00 to $113.00 and set an outperform rating for the company in a research report on Wednesday, February 21st. Finally, Stifel Nicolaus dropped their price target on shares of Workiva from $92.00 to $85.00 and set a hold rating on the stock in a research note on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $111.86.

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.