Stock Story -
Financial and compliance reporting software company Workiva (NYSE:WK) will be announcing earnings results tomorrow afternoon. Here's what you need to know.
Workiva met analysts' revenue expectations last quarter, reporting revenues of $175.7 million, up 17% year on year. It was a weak quarter for the company, with decelerating customer growth and a miss of analysts' billings estimates. It added 65 enterprise customers paying more than $100,000 annually to reach a total of 1,696.
Is Workiva a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Workiva's revenue to grow 13% year on year to $175.2 million, slowing from the 17.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.18 per share.
The majority of analysts covering the company have 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 1.7% on average.
Looking at Workiva's peers in the finance and HR software segment, only Paychex (NASDAQ:PAYX) has reported results so far. It met analysts' revenue estimates, delivering year-on-year sales growth of 5.3%. The stock was down 5.7% on the results.
Read the full analysis of Paychex's results on StockStory. There has been positive sentiment among investors in the finance and HR software segment, with share prices up 2.2% on average over the last month. Workiva is up 2.6% during the same time and is heading into earnings with an average analyst price target of $101.8 (compared to the current share price of $73.72).
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