Workiva (NYSE:WK) Shares Gap Up After Earnings Beat

Workiva Inc. (NYSE:WK) gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $82.11, but opened at $95.16. Workiva shares last traded at $88.9620, with a volume of 212,554 shares trading hands.

The software maker reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.17. The company had revenue of $224.17 million during the quarter, compared to the consensus estimate of $218.96 million. Workiva’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 EPS. Workiva has set its FY 2025 guidance at 1.650-1.68 EPS. Q4 2025 guidance at 0.670-0.700 EPS.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WK. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Workiva in a research report on Wednesday, October 8th. Capital One Financial set a $100.00 target price on shares of Workiva in a research report on Tuesday, September 30th. The Goldman Sachs Group restated a “buy” rating on shares of Workiva in a research report on Thursday. Citigroup upped their target price on shares of Workiva from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, September 11th. Finally, Raymond James Financial reduced their price target on shares of Workiva from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, August 1st. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.55.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Arizona State Retirement System increased its stake in shares of Workiva by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 14,586 shares of the software maker’s stock worth $1,256,000 after purchasing an additional 195 shares during the last quarter. State of Wyoming grew its holdings in shares of Workiva by 15.4% during the third quarter. State of Wyoming now owns 1,553 shares of the software maker’s stock worth $134,000 after purchasing an additional 207 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Workiva by 287.8% in the third quarter. GAMMA Investing LLC now owns 287 shares of the software maker’s stock worth $25,000 after acquiring an additional 213 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Workiva by 8.7% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 2,825 shares of the software maker’s stock worth $214,000 after acquiring an additional 225 shares during the last quarter. Finally, Wealth Alliance LLC raised its stake in shares of Workiva by 8.2% in the second quarter. Wealth Alliance LLC now owns 3,122 shares of the software maker’s stock worth $214,000 after acquiring an additional 236 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Workiva Stock Performance

The firm’s 50-day moving average price is $84.09 and its 200 day moving average price is $75.05. The company has a market cap of $4.98 billion, a price-to-earnings ratio of -74.21 and a beta of 0.87.

Workiva Company Profile

Workiva Inc, together with its subsidiaries, provides cloud-based reporting solutions in the United States and internationally. The company offers Workiva platform, a multi-tenant cloud software that provides data linking capabilities; audit trail services; administrators access management; and allows customers to connect data from multiple enterprise resource planning, human capital management, and customer relationship management systems, as well as other third-party cloud and on-premise applications.