Workiva Inc (WK) Expected to Announce Quarterly Sales of $48.39 Million
Wall Street brokerages expect that Workiva Inc (NYSE:WK) will report $48.39 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Workiva’s earnings. The lowest sales estimate is $48.1 million and the highest is $48.6 million. Workiva reported sales of $43.01 million in the same quarter last year, which indicates a positive year over year growth rate of 12.5%. The business is expected to report its next earnings report on Wednesday, August 2nd.
According to Zacks, analysts expect that Workiva will report full year sales of $48.39 million for the current year, with estimates ranging from $204.05 million to $205.59 million. For the next financial year, analysts forecast that the business will post sales of $235.04 million per share, with estimates ranging from $229.8 million to $241.13 million. Zacks’ sales averages are an average based on a survey of analysts that follow Workiva.
Workiva (NYSE:WK) last posted its quarterly earnings data on Thursday, May 4th. The software maker reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.11. The company had revenue of $51.90 million for the quarter, compared to analyst estimates of $50.67 million. Workiva had a negative net margin of 27.16% and a negative return on equity of 363.07%. Workiva’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.21) earnings per share.
A number of research analysts have recently issued reports on the stock. Credit Suisse Group AG raised their price target on shares of Workiva from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Monday, May 15th. Robert W. Baird downgraded shares of Workiva from an “outperform” rating to a “neutral” rating and set a $15.00 price target on the stock. in a research report on Tuesday, February 28th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $18.33.
Workiva (NYSE:WK) traded up 0.27% on Friday, reaching $18.30. 100,984 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $17.13 and its 200 day moving average price is $14.96. The firm’s market capitalization is $757.20 million. Workiva has a 1-year low of $11.95 and a 1-year high of $19.04.
In related news, VP Joseph H. Howell sold 24,000 shares of Workiva stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $15.63, for a total value of $375,120.00. Following the sale, the vice president now directly owns 22,048 shares in the company, valued at approximately $344,610.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Jerome M. Behar sold 53,500 shares of Workiva stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $18.13, for a total transaction of $969,955.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 94,000 shares of company stock worth $1,644,055. Insiders own 33.40% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Federated Investors Inc. PA increased its stake in shares of Workiva by 89.8% in the fourth quarter. Federated Investors Inc. PA now owns 9,348 shares of the software maker’s stock valued at $128,000 after buying an additional 4,422 shares in the last quarter. Ellington Management Group LLC purchased a new stake in shares of Workiva during the fourth quarter valued at $139,000. Elgethun Capital Management purchased a new stake in shares of Workiva during the fourth quarter valued at $178,000. American International Group Inc. increased its stake in shares of Workiva by 7.0% in the first quarter. American International Group Inc. now owns 13,520 shares of the software maker’s stock valued at $212,000 after buying an additional 888 shares in the last quarter. Finally, North Run Capital LP purchased a new stake in shares of Workiva during the first quarter valued at $292,000. Hedge funds and other institutional investors own 35.34% of the company’s stock.
Workiva Company Profile
Workiva Inc provides enterprises with cloud solutions for improving productivity, accountability and insight into business data. The Company created Wdesk, a collaborative work management platform for organizations to collect, link, report and analyze their business data. Wdesk’s word processing, spreadsheet and presentation applications are integrated and built upon a data management engine, offering synchronized data, controlled collaboration, granular permissions and a full audit trail.
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