Workiva (NYSE:WK) Issues Q2 2024 Earnings Guidance

Workiva (NYSE:WK) updated its second quarter 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 0.160-0.190 for the period, compared to the consensus 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 Stock Performance

Shares of NYSE WK traded up $0.58 during midday trading on Monday, hitting $82.26. The stock had a trading volume of 60,591 shares, compared to its average volume of 374,296. Workiva has a 1 year low of $76.63 and a 1 year 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 announced its earnings results on Tuesday, February 20th. The software maker reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. The company had revenue of $166.65 million for the quarter, compared to analyst estimates of $164.44 million. As a group, equities research analysts anticipate that Workiva will post -0.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Stifel Nicolaus reduced their price target on shares of Workiva from $92.00 to $85.00 and set a hold rating for the company in a research report on Wednesday, February 21st. BMO Capital Markets dropped their target price on Workiva from $123.00 to $113.00 and set an outperform rating for the company in a report on Wednesday, February 21st. Finally, Citigroup cut their target price on Workiva from $110.00 to $95.00 and set a buy rating on the stock in a research report on Tuesday, April 23rd. 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 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.