Zacks: Brokerages Expect Workiva Inc. (WK) Will Announce Quarterly Sales of $50.64 Million
Wall Street brokerages forecast that Workiva Inc. (NYSE:WK) will post sales of $50.64 million for the current quarter, Zacks reports. Five analysts have provided estimates for Workiva’s earnings, with the lowest sales estimate coming in at $50.50 million and the highest estimate coming in at $50.80 million. Workiva reported sales of $44.71 million during the same quarter last year, which indicates a positive year over year growth rate of 13.3%. The firm is scheduled to report its next earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that Workiva will report full year sales of $50.64 million for the current financial year, with estimates ranging from $205.00 million to $205.70 million. For the next financial year, analysts expect that the firm will report sales of $234.73 million per share, with estimates ranging from $233.00 million to $236.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Workiva.
Workiva (NYSE:WK) last issued its earnings results on Thursday, August 3rd. The software maker reported ($0.25) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.06. Workiva had a negative net margin of 18.94% and a negative return on equity of 13,251.94%. The firm had revenue of $49.40 million during the quarter, compared to analyst estimates of $48.37 million. During the same quarter in the prior year, the business earned ($0.20) earnings per share. Workiva’s revenue for the quarter was up 14.9% on a year-over-year basis.
WK has been the topic of several analyst reports. BidaskClub downgraded Workiva from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. SunTrust Banks, Inc. initiated coverage on Workiva in a report on Monday, June 26th. They set a “buy” rating and a $22.00 target price on the stock. Northland Securities set a $23.00 target price on Workiva and gave the company a “buy” rating in a report on Sunday. Stifel Nicolaus raised their target price on Workiva from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, August 18th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $18.00 target price (up from $16.00) on shares of Workiva in a report on Tuesday, July 25th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Workiva has an average rating of “Hold” and an average target price of $19.57.
In other Workiva news, major shareholder Jerome M. Behar sold 13,804 shares of Workiva stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $19.10, for a total transaction of $263,656.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Joseph H. Howell sold 24,000 shares of Workiva stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $18.61, for a total value of $446,640.00. Following the sale, the vice president now owns 22,048 shares in the company, valued at $410,313.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 469,990 shares of company stock worth $9,431,516. Company insiders own 33.40% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN increased its holdings in Workiva by 0.9% during the 2nd quarter. Wells Fargo & Company MN now owns 42,281 shares of the software maker’s stock worth $805,000 after purchasing an additional 387 shares during the last quarter. Legal & General Group Plc increased its holdings in Workiva by 9.3% during the 2nd quarter. Legal & General Group Plc now owns 6,999 shares of the software maker’s stock worth $134,000 after purchasing an additional 597 shares during the last quarter. California State Teachers Retirement System increased its holdings in Workiva by 1.6% during the 2nd quarter. California State Teachers Retirement System now owns 43,968 shares of the software maker’s stock worth $838,000 after purchasing an additional 700 shares during the last quarter. American International Group Inc. increased its holdings in Workiva by 7.0% during the 1st quarter. American International Group Inc. now owns 13,520 shares of the software maker’s stock worth $212,000 after purchasing an additional 888 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in Workiva by 1.6% during the 1st quarter. HighTower Advisors LLC now owns 57,732 shares of the software maker’s stock worth $904,000 after purchasing an additional 900 shares during the last quarter. Institutional investors own 43.27% of the company’s stock.
Workiva (WK) opened at 19.70 on Thursday. The company’s market cap is $823.97 million. Workiva has a 12 month low of $12.15 and a 12 month high of $20.95. The company’s 50 day moving average is $19.70 and its 200-day moving average is $17.98.
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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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