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AMES, IA – Workiva Inc . (NYSE:WK), a leader in cloud-based compliance and regulatory reporting solutions with impressive gross profit margins of 77%, announced upcoming changes to its Board of Directors in a recent SEC filing. Brigid Bonner, currently serving on the Nominating and Governance Committee and as Chair of the Compensation Committee, has decided not to stand for re-election at the company’s 2025 annual meeting of stockholders. Bonner will continue her director duties until the annual meeting, with no disagreements prompting her departure. According to InvestingPro data, the company maintains a healthy current ratio of 1.77, indicating strong short-term financial stability.
The Board has approved a new slate of nominees for the upcoming annual meeting, which includes all current Class II directors except Bonner. A notable addition to the slate is Astha Malik, the Chief Business Officer of Braze , Inc. (NASDAQ:BRZE), who has agreed to stand for election. If elected, Malik’s extensive experience is expected to add valuable insights to the Workiva Board. The leadership changes come as Workiva’s stock trades near its 52-week low, with analysts maintaining a strong buy consensus and projecting significant upside potential. InvestingPro analysis suggests the stock is currently undervalued, with 12 additional exclusive insights available to subscribers.
Further details regarding Malik’s nomination and other matters related to the annual meeting will be available in the company’s proxy materials, to be filed with the Securities and Exchange Commission.
This announcement is based on a press release statement and contains no subjective assessment or promotional language. The information is presented to provide shareholders and the public with factual updates on corporate governance matters at Workiva Inc.
In other recent news, Workiva has reported its fourth-quarter 2024 earnings, surpassing revenue expectations with a total of $200 million, exceeding the forecasted $195.21 million. The company also achieved a 22% growth in subscription revenue, driven by new client acquisitions and the expansion of existing accounts. This robust performance has led analysts from Truist Securities to maintain a Buy rating with a $120 price target, while Citi has raised its price target to $130, citing strong deal momentum and platform sales.
Despite these positive developments, BMO Capital Markets has lowered its price target for Workiva to $108, maintaining an Outperform rating due to concerns over potential regulatory changes in Europe affecting sustainability reporting. Stifel analysts have also adjusted their price target to $120 but continue to uphold a Buy rating, emphasizing Workiva’s strategic positioning amid evolving ESG reporting standards. The company’s management remains cautiously optimistic, projecting a 20% growth in subscription revenue for 2025, supported by continuous product innovation, particularly in artificial intelligence.
Overall, Workiva’s recent earnings and strategic initiatives have garnered varied responses from analysts, reflecting both confidence in the company’s growth trajectory and caution regarding potential regulatory impacts.
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