Workiva (NYSE:WK) Releases FY 2024 Earnings Guidance

Workiva (NYSE:WK) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 0.960-1.030 for the period, compared to the consensus earnings per share 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.

Workiva Stock Performance

Shares of WK traded down $0.29 on Monday, reaching $81.39. The stock had a trading volume of 99,819 shares, compared to its average volume of 374,629. The firm has a 50-day moving average of $82.33 and a 200 day 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 released its earnings results on Tuesday, February 20th. The software maker reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.10. The firm had revenue of $166.65 million for the quarter, compared to the consensus estimate of $164.44 million. As a group, equities analysts anticipate that Workiva will post -0.84 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WK shares. Stifel Nicolaus dropped their price target on shares of Workiva from $92.00 to $85.00 and set a hold rating for the company in a research note on Wednesday, February 21st. Citigroup lowered their target price on shares of Workiva from $110.00 to $95.00 and set a buy rating for the company in a research note on Tuesday, April 23rd. Finally, BMO Capital Markets reduced their price objective 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. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $111.86.

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.