Workspace Group (LON:WKP) Share Price Crosses Below 200-Day Moving Average – What’s Next?

Workspace Group Plc (LON:WKP) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 377.16 and traded as low as GBX 343.40. Workspace Group shares last traded at GBX 348.60, with a volume of 882,237 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on WKP shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 400 price objective on shares of Workspace Group in a report on Thursday, June 11th. Stifel Nicolaus lowered their price objective on shares of Workspace Group from GBX 550 to GBX 500 and set a “buy” rating for the company in a report on Friday, April 17th. Berenberg Bank restated a “buy” rating and issued a GBX 401 price objective on shares of Workspace Group in a report on Wednesday, June 10th. Jefferies Financial Group restated a “buy” rating and issued a GBX 406 price objective on shares of Workspace Group in a report on Thursday, June 11th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Workspace Group from GBX 500 to GBX 410 and set an “overweight” rating for the company in a report on Tuesday, June 9th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of GBX 436.17.

Workspace Group Stock Performance

The firm has a market capitalization of £670.32 million, a P/E ratio of -8.83, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. The company’s fifty day simple moving average is GBX 343.75 and its 200 day simple moving average is GBX 377.16.

Workspace Group (LON:WKP) last issued its quarterly earnings data on Wednesday, June 10th. The company reported GBX 31.30 EPS for the quarter. The business had revenue of £181.40 million during the quarter. Workspace Group had a negative net margin of 66.32% and a negative return on equity of 8.83%. On average, analysts predict that Workspace Group Plc will post 36.7630058 earnings per share for the current fiscal year.

Workspace Group Company Profile

Workspace is London's leading owner and operator of flexible workspace, currently managing 4.7 million sq. ft. of sustainable space at 79 locations in London and the South East. We are home to some 4,000 of London's fastest growing and established brands from a diverse range of sectors. Our purpose, to give businesses the freedom to grow, is based on the belief that in the right space, teams can achieve more. That in environments they tailor themselves, free from constraint and compromise, teams are best able to collaborate, build their culture and realise their potential.