Workiva (NYSE:WK) Issues Q3 2019 Earnings Guidance

Workiva (NYSE:WK) updated its third quarter 2019 earnings guidance on Tuesday. The company provided EPS guidance of $-0.17–0.16 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.15. The company issued revenue guidance of $72-72.5 million, compared to the consensus revenue estimate of $71.21 million.Workiva also updated its FY 2019 guidance to $-0.31–0.27 EPS.

A number of analysts have issued reports on the stock. Zacks Investment Research raised shares of Workiva from a hold rating to a buy rating and set a $66.00 price objective for the company in a report on Friday, July 5th. SunTrust Banks boosted their price objective on shares of Workiva to $58.00 and gave the company a buy rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $45.67.

Shares of Workiva stock traded down $0.80 on Tuesday, reaching $55.21. 367,600 shares of the stock were exchanged, compared to its average volume of 327,484. The firm’s 50 day simple moving average is $58.37. Workiva has a one year low of $25.30 and a one year high of $61.76. The company has a debt-to-equity ratio of 9.78, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of -59.37 and a beta of 0.96.

Workiva (NYSE:WK) last issued its quarterly earnings results on Tuesday, August 6th. The software maker reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.08). The firm had revenue of $73.48 million for the quarter, compared to the consensus estimate of $68.96 million. During the same period in the previous year, the business posted ($0.12) earnings per share. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. As a group, research analysts predict that Workiva will post -1.1 earnings per share for the current fiscal year.

In other news, Director Brigid A. Bonner purchased 500 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was bought at an average price of $53.00 per share, with a total value of $26,500.00. Following the acquisition, the director now owns 6,426 shares in the company, valued at approximately $340,578. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Matthew M. Rizai sold 66,585 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $53.00, for a total transaction of $3,529,005.00. Following the sale, the insider now directly owns 260,011 shares of the company’s stock, valued at approximately $13,780,583. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 201,585 shares of company stock valued at $11,197,355. 18.46% of the stock is currently owned by insiders.

About Workiva

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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