Workiva (NYSE:WK) Issues Q2 2024 Earnings Guidance

Workiva (NYSE:WK) updated its second quarter 2024 earnings guidance on Friday. 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.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citigroup decreased their target price on Workiva from $110.00 to $95.00 and set a buy rating on the stock in a research note on Tuesday, April 23rd. BMO Capital Markets cut their price objective on Workiva from $123.00 to $113.00 and set an outperform rating on the stock in a research report on Wednesday, February 21st. Finally, Stifel Nicolaus decreased their target price on Workiva from $92.00 to $85.00 and set a hold rating for the company in a report on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $111.86.

Workiva Price Performance

WK stock traded up $0.60 during trading on Monday, reaching $82.28. 39,096 shares of the stock traded hands, compared to its average volume of 373,975. The business’s 50 day moving average price is $82.33 and its 200-day moving average price is $90.52. Workiva has a 52-week low of $76.63 and a 52-week high of $116.00.

Workiva (NYSE:WK) last posted its quarterly earnings data on Tuesday, February 20th. The software maker reported ($0.05) earnings per share (EPS) 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 analysts’ expectations of $164.44 million. As a group, research analysts predict that Workiva will post -0.84 EPS for the current year.

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.