$53.30 Million in Sales Expected for Workiva Inc (WK) This Quarter

Equities analysts forecast that Workiva Inc (NYSE:WK) will report $53.30 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Workiva’s earnings. The highest sales estimate is $53.40 million and the lowest is $53.20 million. Workiva reported sales of $46.37 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 14.9%. The business is scheduled to issue its next quarterly earnings report after the market closes on Thursday, February 22nd.

On average, analysts expect that Workiva will report full year sales of $53.30 million for the current year, with estimates ranging from $206.57 million to $207.00 million. For the next year, analysts forecast that the firm will report sales of $235.41 million per share, with estimates ranging from $234.97 million to $236.21 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover Workiva.

Workiva (NYSE:WK) last issued its earnings results on Tuesday, November 7th. The software maker reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.17. The firm had revenue of $52.10 million during the quarter, compared to analyst estimates of $50.64 million. Workiva’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.23) EPS.

WK has been the topic of several recent research reports. Zacks Investment Research raised Workiva from a “sell” rating to a “hold” rating in a report on Saturday, January 13th. Credit Suisse Group raised their price target on Workiva from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, November 8th. Morgan Stanley raised their price target on Workiva from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, October 23rd. Northland Securities reissued a “buy” rating and issued a $23.00 price target on shares of Workiva in a report on Sunday, October 29th. Finally, ValuEngine raised Workiva from a “sell” rating to a “hold” rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $22.14.

Shares of Workiva (WK) opened at $22.05 on Tuesday. Workiva has a 1-year low of $12.55 and a 1-year high of $23.70. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of -1.29.

In other Workiva news, major shareholder Jerome M. Behar sold 2,442 shares of Workiva stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $23.40, for a total transaction of $57,142.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Jerome M. Behar sold 46,000 shares of Workiva stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $22.15, for a total value of $1,018,900.00. The disclosure for this sale can be found here. Company insiders own 33.29% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Old Mutual Global Investors UK Ltd. bought a new stake in Workiva during the 3rd quarter valued at $106,000. Legal & General Group Plc raised its stake in Workiva by 9.3% during the 2nd quarter. Legal & General Group Plc now owns 6,999 shares of the software maker’s stock valued at $134,000 after acquiring an additional 597 shares in the last quarter. Voya Investment Management LLC bought a new stake in Workiva during the 2nd quarter valued at $192,000. GSA Capital Partners LLP bought a new stake in Workiva during the 3rd quarter valued at $224,000. Finally, Nationwide Fund Advisors raised its stake in Workiva by 11.5% during the 2nd quarter. Nationwide Fund Advisors now owns 14,081 shares of the software maker’s stock valued at $268,000 after acquiring an additional 1,448 shares in the last quarter. 35.17% of the stock is currently owned by hedge funds and other institutional investors.

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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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