Brokerages predict that Workiva Inc (NYSE:WK) will announce sales of $75.64 million for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Workiva’s earnings, with estimates ranging from $75.53 million to $75.80 million. Workiva posted sales of $64.44 million during the same quarter last year, which suggests a positive year-over-year growth rate of 17.4%. The firm is expected to report its next quarterly earnings results on Wednesday, February 19th.
According to Zacks, analysts expect that Workiva will report full-year sales of $293.21 million for the current financial year, with estimates ranging from $293.00 million to $293.43 million. For the next year, analysts anticipate that the business will post sales of $341.37 million, with estimates ranging from $340.36 million to $343.01 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Workiva.
Workiva (NYSE:WK) last issued its quarterly earnings data on Wednesday, November 6th. The software maker reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.24. Workiva had a negative return on equity of 208.31% and a negative net margin of 14.02%. The firm had revenue of $74.18 million during the quarter, compared to analyst estimates of $72.32 million. During the same quarter last year, the firm earned ($0.09) EPS. Workiva’s quarterly revenue was up 21.9% on a year-over-year basis.
A number of brokerages have weighed in on WK. Northland Securities restated a “buy” rating and set a $62.00 price objective on shares of Workiva in a research note on Thursday, November 7th. ValuEngine upgraded Workiva from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Goldman Sachs Group began coverage on Workiva in a research note on Monday, November 11th. They set a “neutral” rating and a $46.00 price objective for the company. Morgan Stanley lowered their price objective on Workiva from $46.00 to $42.00 and set an “underweight” rating for the company in a research note on Wednesday, October 16th. Finally, Zacks Investment Research upgraded Workiva from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Workiva has an average rating of “Hold” and an average target price of $56.20.
NYSE WK traded up $0.09 during mid-day trading on Monday, reaching $40.81. 146,099 shares of the company’s stock traded hands, compared to its average volume of 244,205. Workiva has a 1-year low of $31.83 and a 1-year high of $64.11. The company has a fifty day simple moving average of $42.06 and a 200-day simple moving average of $49.43. The company has a current ratio of 2.63, a quick ratio of 2.63 and a debt-to-equity ratio of 4.48. The company has a market cap of $1.93 billion, a price-to-earnings ratio of -43.88 and a beta of 0.98.
In other Workiva news, CAO Jill Klindt sold 12,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $42.05, for a total transaction of $504,600.00. Following the transaction, the chief accounting officer now owns 28,090 shares of the company’s stock, valued at approximately $1,181,184.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Eugene S. Katz sold 3,571 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $42.20, for a total value of $150,696.20. Following the transaction, the director now directly owns 101,385 shares in the company, valued at approximately $4,278,447. The disclosure for this sale can be found here. Company insiders own 18.46% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Workiva by 541.7% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 462 shares of the software maker’s stock worth $27,000 after purchasing an additional 390 shares during the last quarter. FTB Advisors Inc. lifted its holdings in shares of Workiva by 130.4% in the 3rd quarter. FTB Advisors Inc. now owns 721 shares of the software maker’s stock worth $31,000 after purchasing an additional 408 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Workiva in the 2nd quarter worth approximately $52,000. Meeder Asset Management Inc. lifted its holdings in shares of Workiva by 215.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,654 shares of the software maker’s stock worth $96,000 after purchasing an additional 1,130 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Workiva by 21.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,874 shares of the software maker’s stock worth $109,000 after purchasing an additional 335 shares during the last quarter. 59.20% of the stock is currently owned by institutional investors and hedge funds.
Workiva Inc provides cloud-based solutions for connected data, reporting, and compliance worldwide. The company offers Wdesk, a platform that provides data collection and linking, data integrations, controlled collaboration, granular permissions, process management, and full audit trail services; and Wdata, which includes data preparation tools, data connectors, and application programming interfaces that enable customers to create direct connections to their data.
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