Workiva (NYSE:WK) Updates FY19 Earnings Guidance

Workiva (NYSE:WK) issued an update on its FY19 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $(0.31)-(0.27) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.35). The company issued revenue guidance of $290-291 million, compared to the consensus revenue estimate of $285.43 million.Workiva also updated its FY 2019 guidance to $-0.31–0.27 EPS.

Shares of Workiva stock traded down $0.80 during trading on Tuesday, hitting $55.21. The stock had a trading volume of 367,600 shares, compared to its average volume of 327,484. 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 capitalization of $2.61 billion, a price-to-earnings ratio of -59.37 and a beta of 0.96. The firm’s fifty day simple moving average is $58.37. Workiva has a fifty-two week low of $25.30 and a fifty-two week high of $61.76.

Several analysts have recently weighed in on WK shares. Zacks Investment Research upgraded 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 upped their price objective on Workiva to $58.00 and gave the company a buy rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. Workiva has a consensus rating of Buy and a consensus target price of $45.67.

In related news, Director Brigid A. Bonner bought 500 shares of Workiva stock in a transaction dated Wednesday, June 5th. The stock was acquired at an average cost of $53.00 per share, with a total value of $26,500.00. Following the completion of the acquisition, the director now directly owns 6,426 shares in the company, valued at approximately $340,578. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jeff D. Trom sold 20,000 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $53.38, for a total value of $1,067,600.00. Following the sale, the vice president now directly owns 255,905 shares of the company’s stock, valued at $13,660,208.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 201,585 shares of company stock valued at $11,197,355. Insiders own 18.46% of the company’s stock.

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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