Workiva (NYSE:WK) Releases FY22 Revenue Guidance

Workiva (NYSE:WK – Get Rating) updated its FY22 earnings guidance on Tuesday. The company provided EPS guidance of ($0.57) to ($0.53) for the period, versus consensus EPS estimate of ($0.70). The company released a revenue forecast of $534 million to $536 million, compared to a consensus revenue estimate of $533.67 million. Workiva also updated its guidance for fiscal year 2022 to -$0.57 – $0.53 EPS.

Analysts set new price targets

A number of brokerages have recently commented on WK. Stifel Nicolaus downgraded Workiva shares from a buy rating to a hold rating and reduced his price target for the company from $120.00 to $80.00 in a Wednesday, May 4 research report. BMO Capital Markets cut its price target on Workiva shares from $127.00 to $109.00 in a Wednesday, May 4 research report. Finally, Robert W. Baird cut his price target on Workiva stock from $120.00 to $100.00 and set an outperform rating for the company in a Tuesday, June 28 research report. Two research analysts gave the stock a hold rating and four gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has an average moderate buy rating and an average price target of $106.00.

Workiva Price Performance

Workiva stock traded at $3.49 at midday Tuesday, hitting $68.52. The company had a trading volume of 395,857 shares, compared to an average volume of 395,119. Workiva has a 1-year low of $59.43 and a 1-year high of $173.24. The company has a debt ratio of 14.06, a current ratio of 1.89 and a quick ratio of 1.89. The company has a market capitalization of $3.57 billion, a P/E ratio of -72.13 and a beta of 1.44. The stock’s 50-day simple moving average is $67.31 and its 200-day simple moving average is $88.74.

Institutional entries and exits

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A number of hedge funds have recently increased or reduced their holdings in the stock. Lazard Asset Management LLC bought a new position in Workiva stock during Q1 worth approximately $82,000. Captrust Financial Advisors increased its holding in Workiva shares by 181.4% during the 1st quarter. Captrust Financial Advisors now owns 1,511 shares of the software maker worth $178,000 after buying 974 additional shares in the last quarter. Atria Wealth Solutions Inc. bought a new stock position in Workiva during Q1 worth approximately $229,000. Point72 Hong Kong Ltd bought a new position in shares of Workiva during Q1 for a value of approximately $298,000. Finally, XTX Topco Ltd purchased a new position in Workiva stock during Q1 worth approximately $314,000. 85.21% of the shares are held by hedge funds and other institutional investors.

About Workiva

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

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Earnings history and estimates for Workiva (NYSE:WK)

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