Why Workiva Stock Is Surging Today

(NYSE: WK) stock is posting big gains in Wednesday's trading. The company's share price was up 5.5% as of 3:25 p.m. ET and had been up as much as 9.3% earlier in the day's trading.

Workiva's valuation is climbing higher following the company's recent fourth-quarter report. The software specialist published its Q4 results before the market opened this morning, posting sales that came in ahead of the market's expectations.

For the fourth quarter, Workiva posted non-GAAP (adjusted) earnings per share of $0.33 -- which was in line with the average Wall Street analyst estimate. Meanwhile, the business reported sales of $200 million and topped the consensus estimate by roughly $4.8 million. Workiva's sales were up 20% year over year, and its count for customers with annual contract value of more than $500,000 was up 32% compared to the prior-year period.

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Source Fool.com