Brokerages Anticipate Workiva Inc. (NYSE:WK) Will Announce Quarterly Sales of $51.04 Million
Equities research analysts expect Workiva Inc. (NYSE:WK) to report $51.04 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Workiva’s earnings. The lowest sales estimate is $50.42 million and the highest is $51.60 million. Workiva posted sales of $44.71 million during the same quarter last year, which suggests a positive year over year growth rate of 14.2%. The firm is expected to report its next earnings results on Wednesday, November 8th.
On average, analysts expect that Workiva will report full-year sales of $51.04 million for the current fiscal year, with estimates ranging from $204.05 million to $205.59 million. For the next fiscal year, analysts forecast that the company will report sales of $234.91 million per share, with estimates ranging from $229.80 million to $241.13 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Workiva.
Workiva (NYSE:WK) last released its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.06. Workiva had a negative return on equity of 13,251.94% and a negative net margin of 18.94%. The firm had revenue of $49.40 million for the quarter, compared to analysts’ expectations of $48.37 million. During the same quarter last year, the firm posted ($0.20) EPS. The company’s revenue was up 14.9% compared to the same quarter last year.
Several equities analysts have recently commented on the company. Northland Securities restated a “buy” rating and issued a $18.00 price objective on shares of Workiva in a research report on Friday, July 28th. Stifel Nicolaus restated a “buy” rating and issued a $21.00 price objective on shares of Workiva in a research report on Friday. BidaskClub downgraded Workiva from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Morgan Stanley restated an “equal weight” rating and issued a $18.00 price objective (up from $16.00) on shares of Workiva in a research report on Tuesday, July 25th. Finally, Credit Suisse Group boosted their price objective on Workiva from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Monday, May 15th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Workiva has an average rating of “Buy” and a consensus price target of $18.88.
Shares of Workiva (NYSE WK) opened at 19.45 on Tuesday. Workiva has a 12-month low of $12.15 and a 12-month high of $20.95. The stock’s market cap is $804.78 million. The firm has a 50 day moving average price of $19.51 and a 200 day moving average price of $16.63.
In other Workiva news, major shareholder Jerome M. Behar sold 48,710 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $20.25, for a total transaction of $986,377.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Jerome M. Behar sold 1,290 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $20.25, for a total value of $26,122.50. The disclosure for this sale can be found here. Insiders sold 398,945 shares of company stock worth $7,709,163 over the last quarter. 33.40% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Oberndorf William E increased its stake in shares of Workiva by 38.8% in the first quarter. Oberndorf William E now owns 2,369,384 shares of the software maker’s stock worth $37,081,000 after buying an additional 662,408 shares during the period. Vanguard Group Inc. increased its stake in shares of Workiva by 13.6% in the first quarter. Vanguard Group Inc. now owns 1,189,018 shares of the software maker’s stock worth $18,609,000 after buying an additional 141,977 shares during the period. Highwater Wealth Management LLC bought a new stake in shares of Workiva during the first quarter worth about $11,738,000. Frontier Capital Management Co. LLC increased its stake in shares of Workiva by 34.1% in the second quarter. Frontier Capital Management Co. LLC now owns 486,707 shares of the software maker’s stock worth $9,272,000 after buying an additional 123,887 shares during the period. Finally, State Street Corp increased its stake in shares of Workiva by 4.4% in the fourth quarter. State Street Corp now owns 331,358 shares of the software maker’s stock worth $4,524,000 after buying an additional 13,881 shares during the period. Institutional investors and hedge funds own 41.36% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Workiva Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Workiva Inc. and related companies with MarketBeat.com's FREE daily email newsletter.