Zacks: Analysts Expect Workiva Inc. (NYSE:WK) Will Announce Quarterly Sales of $127.27 Million

Wall Street brokerages expect Workiva Inc. (NYSE:WKGet Rating) to announce $127.27 million in sales for the current quarter, according to Zacks. Five analysts have issued estimates for Workiva’s earnings, with the lowest sales estimate coming in at $127.00 million and the highest estimate coming in at $127.50 million. Workiva posted sales of $104.22 million during the same quarter last year, which suggests a positive year over year growth rate of 22.1%. The firm is scheduled to announce its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Workiva will report full year sales of $531.37 million for the current financial year, with estimates ranging from $526.30 million to $533.00 million. For the next year, analysts expect that the firm will report sales of $631.83 million, with estimates ranging from $621.00 million to $642.00 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Workiva.

Workiva (NYSE:WKGet Rating) last announced its earnings results on Tuesday, February 22nd. The software maker reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.07. The company had revenue of $120.78 million for the quarter, compared to analyst estimates of $117.10 million. Workiva had a negative return on equity of 39.05% and a negative net margin of 8.51%. Workiva’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.11) earnings per share.

Several analysts have recently issued reports on WK shares. Zacks Investment Research downgraded Workiva from a “hold” rating to a “sell” rating in a research note on Tuesday, March 8th. William Blair reiterated an “outperform” rating on shares of Workiva in a research note on Wednesday, February 23rd. Robert W. Baird decreased their price target on Workiva from $190.00 to $150.00 in a research note on Wednesday, February 23rd. BMO Capital Markets decreased their target price on Workiva from $135.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 23rd. Finally, Citigroup assumed coverage on Workiva in a research note on Tuesday, February 1st. They set a “buy” rating and a $135.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $134.67.

In other news, EVP Mithun Banarjee sold 7,042 shares of the stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $101.73, for a total value of $716,382.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert H. Herz sold 1,500 shares of the stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of $95.71, for a total value of $143,565.00. The disclosure for this sale can be found here. Insiders sold a total of 11,975 shares of company stock valued at $1,271,908 in the last quarter. Corporate insiders own 12.25% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Commonwealth Equity Services LLC increased its holdings in Workiva by 1.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 7,187 shares of the software maker’s stock valued at $937,000 after purchasing an additional 94 shares in the last quarter. Voya Investment Management LLC increased its holdings in Workiva by 0.7% during the 3rd quarter. Voya Investment Management LLC now owns 16,387 shares of the software maker’s stock valued at $2,310,000 after purchasing an additional 108 shares in the last quarter. Signaturefd LLC increased its holdings in Workiva by 49.2% during the 4th quarter. Signaturefd LLC now owns 370 shares of the software maker’s stock valued at $48,000 after purchasing an additional 122 shares in the last quarter. Dark Forest Capital Management LP increased its holdings in Workiva by 25.7% during the 3rd quarter. Dark Forest Capital Management LP now owns 753 shares of the software maker’s stock valued at $106,000 after purchasing an additional 154 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in Workiva by 1.6% during the 3rd quarter. Arizona State Retirement System now owns 10,348 shares of the software maker’s stock valued at $1,459,000 after purchasing an additional 161 shares in the last quarter. 85.94% of the stock is owned by institutional investors and hedge funds.

Shares of WK stock opened at $108.44 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 1.02. Workiva has a fifty-two week low of $83.65 and a fifty-two week high of $173.24. The stock’s 50-day moving average is $108.21 and its two-hundred day moving average is $125.02. The firm has a market cap of $5.63 billion, a P/E ratio of -144.59 and a beta of 1.46.

Workiva Company Profile (Get Rating)

Workiva Inc, together with its subsidiaries, provides cloud-based compliance and regulatory reporting solutions worldwide. The company offers Workiva platform that offers controlled collaboration, data linking, data integrations, granular permissions, process management, and full audit trail services; and provides tools that enables customers to connect data from enterprise resource planning, governance risk and compliance, human capital management, and customer relationship management systems, as well as from other third-party cloud and on-premise applications.

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Earnings History and Estimates for Workiva (NYSE:WK)

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