financial and compliance reporting software company Workiva (NYSE:WK) will be announcing earnings results tomorrow after market hours. Here’s what you need to know.
Workiva beat analysts’ revenue expectations by 2.4% last quarter, reporting revenues of $199.9 million, up 19.9% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ EBITDA estimates but full-year EPS guidance missing analysts’ expectations significantly. It added 129 enterprise customers paying more than $100,000 annually to reach a total of 2,055.
Is Workiva a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Workiva’s revenue to grow 16.2% year on year to $204.1 million, in line with the 17% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.07 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Workiva has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 1.3% on average.
Looking at Workiva’s peers in the finance and hr software segment, only Paychex has reported results so far. It met analysts’ revenue estimates, delivering year-on-year sales growth of 4.8%. The stock traded up 5.4% on the results.
Read our full analysis of Paychex’s earnings results here.Investors in the finance and hr software segment have had steady hands going into earnings, with share prices flat over the last month. Workiva is down 3.1% during the same time and is heading into earnings with an average analyst price target of $105.37 (compared to the current share price of $73.71).
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