Workiva Inc. (WK) Releases Quarterly Earnings Results, Beats Estimates By $0.17 EPS
Workiva Inc. (NYSE:WK) posted its earnings results on Tuesday. The software maker reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.17, Bloomberg Earnings reports. The firm had revenue of $52.10 million during the quarter, compared to the consensus estimate of $50.64 million. Workiva had a negative net margin of 18.94% and a negative return on equity of 13,251.94%. The company’s revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.23) earnings per share. Workiva updated its Q4 guidance to ($0.23-0.22) EPS.
Shares of Workiva (NYSE:WK) opened at $22.60 on Wednesday. Workiva has a 1 year low of $12.15 and a 1 year high of $23.00. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of -3.11.
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Several equities analysts have recently weighed in on the stock. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $24.00 target price on shares of Workiva in a research note on Friday, November 3rd. Northland Securities set a $23.00 target price on shares of Workiva and gave the stock a “buy” rating in a research note on Sunday, September 10th. Stifel Nicolaus reiterated a “buy” rating and issued a $21.00 target price on shares of Workiva in a research note on Friday, August 4th. BidaskClub cut shares of Workiva from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, Robert W. Baird boosted their price objective on shares of Workiva from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, September 21st. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Workiva has a consensus rating of “Buy” and an average target price of $21.71.
In other Workiva news, major shareholder Jerome M. Behar sold 1,839 shares of Workiva stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $20.00, for a total transaction of $36,780.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Jerome M. Behar sold 46,387 shares of Workiva stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $20.00, for a total transaction of $927,740.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 324,319 shares of company stock valued at $6,611,239. 33.29% of the stock is currently owned by company insiders.
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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