Wall Street analysts expect Workiva (WK) to post quarterly earnings of $0.68 per share in its upcoming report, which indicates a year-over-year increase of 106.1%. Revenues are expected to be $235 million, up 17.6% from the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
With that in mind, let's delve into the average projections of some Workiva metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts' assessment points toward 'Revenue- Subscription and support' reaching $216.90 million. The estimate points to a change of +19.9% from the year-ago quarter.
The average prediction of analysts places 'Revenue- Professional Services' at $18.17 million. The estimate indicates a year-over-year change of -4.3%.
The combined assessment of analysts suggests that 'Gross profit- Professional services (non-GAAP)' will likely reach $5.51 million. The estimate is in contrast to the year-ago figure of $6.38 million.
Based on the collective assessment of analysts, 'Gross profit- Subscription and support (non-GAAP)' should arrive at $183.38 million. Compared to the present estimate, the company reported $151.88 million in the same quarter last year.
View all Key Company Metrics for Workiva here>>>
Over the past month, Workiva shares have recorded returns of -27.8% versus the Zacks S&P 500 composite's -1.4% change. Based on its Zacks Rank #3 (Hold), WK will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Workiva Inc. (WK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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