Workiva Inc. (NYSE:WK) Receives Average Recommendation of “Buy” from Analysts

Shares of Workiva Inc. (NYSE:WK) have been given an average recommendation of “Buy” by the ten ratings firms that are presently covering the stock, MarketBeat.com reports. Ten equities research analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have covered the stock in the last year is $106.30.

A number of analysts recently commented on WK shares. Stifel Nicolaus decreased their price objective on Workiva from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Truist Financial decreased their price target on shares of Workiva from $120.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Citigroup raised their price target on shares of Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. BNP Paribas began coverage on shares of Workiva in a research note on Tuesday, April 22nd. They set an “outperform” rating and a $100.00 price target on the stock. Finally, Stephens restated an “overweight” rating and set a $95.00 target price on shares of Workiva in a research report on Thursday, May 22nd.

Institutional Investors Weigh In On Workiva

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Workiva by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 5,942,371 shares of the software maker’s stock valued at $451,085,000 after purchasing an additional 142,297 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Workiva by 32.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,834,723 shares of the software maker’s stock valued at $215,184,000 after acquiring an additional 686,702 shares during the last quarter. Conestoga Capital Advisors LLC boosted its holdings in Workiva by 1.2% in the first quarter. Conestoga Capital Advisors LLC now owns 1,179,179 shares of the software maker’s stock valued at $89,511,000 after acquiring an additional 14,160 shares during the last quarter. Eminence Capital LP acquired a new position in Workiva in the first quarter valued at $64,903,000. Finally, First Trust Advisors LP boosted its holdings in Workiva by 3.0% in the fourth quarter. First Trust Advisors LP now owns 824,219 shares of the software maker’s stock valued at $90,252,000 after acquiring an additional 24,172 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Workiva Price Performance

WK stock opened at $67.85 on Tuesday. The company’s 50 day simple moving average is $69.03 and its 200-day simple moving average is $86.51. The firm has a market capitalization of $3.78 billion, a PE ratio of -73.75 and a beta of 0.88. Workiva has a 12 month low of $60.50 and a 12 month high of $116.83.

Workiva (NYSE:WK) last released its quarterly earnings results on Thursday, May 1st. The software maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.07 by $0.07. The business had revenue of $206.28 million during the quarter, compared to analyst estimates of $204.24 million. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.22 earnings per share. As a group, sell-side analysts anticipate that Workiva will post -0.92 earnings per share for the current year.

Workiva Company Profile

Workiva Inc, together with its subsidiaries, provides cloud-based reporting solutions in the United States and internationally. The company offers Workiva platform, a multi-tenant cloud software that provides data linking capabilities; audit trail services; administrators access management; and allows customers to connect data from multiple enterprise resource planning, human capital management, and customer relationship management systems, as well as other third-party cloud and on-premise applications.