$80.58 Million in Sales Expected for Workiva Inc (NYSE:WK) This Quarter

Wall Street analysts expect that Workiva Inc (NYSE:WK) will post sales of $80.58 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Workiva’s earnings, with estimates ranging from $80.40 million to $80.74 million. Workiva reported sales of $73.48 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.7%. The business is expected to issue its next earnings results on Tuesday, August 4th.

According to Zacks, analysts expect that Workiva will report full year sales of $334.00 million for the current financial year, with estimates ranging from $330.40 million to $336.03 million. For the next financial year, analysts expect that the company will report sales of $385.63 million, with estimates ranging from $378.00 million to $391.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Workiva.

Workiva (NYSE:WK) last posted its quarterly earnings results on Thursday, April 30th. The software maker reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.18. Workiva had a negative net margin of 16.33% and a negative return on equity of 85.23%. The firm had revenue of $85.80 million for the quarter, compared to analyst estimates of $82.32 million. During the same period in the prior year, the firm posted $0.01 earnings per share. The company’s quarterly revenue was up 22.6% compared to the same quarter last year.

Several analysts have issued reports on WK shares. Morgan Stanley dropped their price target on shares of Workiva from $40.00 to $30.00 and set an “underweight” rating on the stock in a research report on Wednesday, March 25th. SunTrust Banks decreased their price objective on shares of Workiva from $65.00 to $57.00 and set a “buy” rating on the stock in a report on Friday, May 1st. ValuEngine downgraded shares of Workiva from a “strong-buy” rating to a “buy” rating in a report on Friday, May 1st. Northland Securities reiterated a “buy” rating and issued a $52.00 price objective on shares of Workiva in a report on Friday, May 1st. Finally, Zacks Investment Research upgraded shares of Workiva from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Saturday, April 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $44.60.

NYSE WK traded up $0.80 on Monday, hitting $42.24. 383,003 shares of the stock were exchanged, compared to its average volume of 464,915. The company has a debt-to-equity ratio of 4.57, a current ratio of 2.55 and a quick ratio of 2.55. The business’s fifty day moving average is $36.09 and its 200 day moving average is $40.46. Workiva has a 52 week low of $22.01 and a 52 week high of $64.11. The company has a market capitalization of $1.95 billion, a PE ratio of -38.75 and a beta of 1.20.

In other Workiva news, Director Michael M. Crow sold 10,000 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $40.56, for a total transaction of $405,600.00. Following the sale, the director now directly owns 24,889 shares in the company, valued at $1,009,497.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 14.95% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in shares of Workiva in the fourth quarter worth about $27,714,000. Silvercrest Asset Management Group LLC lifted its holdings in shares of Workiva by 111.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 472,665 shares of the software maker’s stock worth $15,281,000 after acquiring an additional 249,410 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Workiva by 1,311.2% in the first quarter. JPMorgan Chase & Co. now owns 253,963 shares of the software maker’s stock worth $8,211,000 after acquiring an additional 235,967 shares during the last quarter. ArrowMark Colorado Holdings LLC bought a new position in shares of Workiva in the first quarter worth about $3,714,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Workiva by 97.2% in the first quarter. Wells Fargo & Company MN now owns 202,053 shares of the software maker’s stock worth $6,532,000 after acquiring an additional 99,572 shares during the last quarter. Hedge funds and other institutional investors own 59.32% of the company’s stock.

About Workiva

Workiva Inc provides cloud-based solutions for connected data, reporting, and compliance worldwide. The company offers Wdesk, a platform that provides data collection and linking, data integrations, controlled collaboration, granular permissions, process management, and full audit trail services; and Wdata, which includes data preparation tools, data connectors, and application programming interfaces that enable customers to create direct connections to their data.

Featured Article: Risk Tolerance

Get a free copy of the Zacks research report on Workiva (WK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Workiva Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Workiva and related companies with MarketBeat.com's FREE daily email newsletter.