Workspace Group (LON:WKP) Share Price Crosses Below 200-Day Moving Average – What’s Next?

Workspace Group Plc (LON:WKP) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 377.16 and traded as low as GBX 343.40. Workspace Group shares last traded at GBX 348.60, with a volume of 882,237 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WKP. Jefferies Financial Group reiterated a “buy” rating and set a GBX 406 price objective on shares of Workspace Group in a report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a GBX 400 price objective on shares of Workspace Group in a report on Thursday, June 11th. Berenberg Bank reissued a “buy” rating and set a GBX 401 price target on shares of Workspace Group in a research report on Wednesday, June 10th. Stifel Nicolaus dropped their price target on shares of Workspace Group from GBX 550 to GBX 500 and set a “buy” rating on the stock in a research report on Friday, April 17th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Workspace Group from GBX 500 to GBX 410 and set an “overweight” rating on the stock in a research report on Tuesday, June 9th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Workspace Group currently has a consensus rating of “Moderate Buy” and an average target price of GBX 436.17.

Workspace Group Price Performance

The stock has a market cap of £670.32 million, a PE ratio of -8.83, a P/E/G ratio of 1.54 and a beta of 1.09. The firm’s 50 day moving average price is GBX 343.75 and its two-hundred day moving average price is GBX 377.16.

Workspace Group (LON:WKP) last posted its earnings results on Wednesday, June 10th. The company reported GBX 31.30 earnings per share for the quarter. The firm had revenue of £181.40 million during the quarter. Workspace Group had a negative net margin of 66.32% and a negative return on equity of 8.83%. Analysts anticipate that Workspace Group Plc will post 36.7630058 earnings per share for the current year.

Workspace Group Company Profile

Workspace is London's leading owner and operator of flexible workspace, currently managing 4.7 million sq. ft. of sustainable space at 79 locations in London and the South East. We are home to some 4,000 of London's fastest growing and established brands from a diverse range of sectors. Our purpose, to give businesses the freedom to grow, is based on the belief that in the right space, teams can achieve more. That in environments they tailor themselves, free from constraint and compromise, teams are best able to collaborate, build their culture and realise their potential.