Citigroup Issues Positive Forecast for Workiva (NYSE:WK) Stock Price

Key Points

• Citigroup has increased its price target for Workiva (NYSE:WK) from $105.00 to $110.00, indicating a potential upside of 42.59% from the stock's previous close, while maintaining a "buy" rating on the shares.
• Workiva recently reported a quarterly profit of $0.19 earnings per share, exceeding consensus estimates, with revenue up 21.2% year-over-year, reaching $215.19 million.
• The stock saw a trading increase of 2.0% on Thursday, closing at $77.15, with a significant percentage of its shares owned by hedge funds and institutional investors.

Workiva (NYSE:WK - Free Report) had its price objective raised by Citigroup from $105.00 to $110.00 in a research report report published on Thursday morning, MarketBeat.com reports. The firm currently has a buy rating on the software maker's stock.

Several other brokerages have also recently weighed in on WK. Wolfe Research upped their target price on Workiva from $85.00 to $95.00 and gave the stock an "outperform" rating in a report on Wednesday, September 10th. Raymond James Financial decreased their price objective on Workiva from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday, August 1st. Stephens restated an "overweight" rating and set a $95.00 price objective on shares of Workiva in a research note on Thursday, May 22nd. Wall Street Zen upgraded Workiva from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Robert W. Baird set a $105.00 price objective on Workiva in a research note on Wednesday, June 25th. Ten equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $100.00.

Workiva Price Performance

Shares of WK stock traded up $0.55 during mid-day trading on Thursday, hitting $78.81. The stock had a trading volume of 169,220 shares, compared to its average volume of 701,045. Workiva has a 12-month low of $60.50 and a 12-month high of $116.83. The firm has a market capitalization of $4.41 billion, a P/E ratio of -65.67 and a beta of 0.88. The firm's 50-day moving average is $74.12 and its two-hundred day moving average is $73.03.

Workiva (NYSE:WK - Get Free Report) last issued its earnings results on Thursday, July 31st. The software maker reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.14. The firm had revenue of $215.19 million during the quarter, compared to analysts' expectations of $208.92 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. Workiva's quarterly revenue was up 21.2% compared to the same quarter last year. Workiva has set its FY 2025 guidance at 1.310-1.380 EPS. Q3 2025 guidance at 0.370-0.410 EPS. Analysts expect that Workiva will post -0.92 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WK. Lazard Asset Management LLC increased its position in Workiva by 10,282.0% during the 4th quarter. Lazard Asset Management LLC now owns 15,573 shares of the software maker's stock valued at $1,705,000 after buying an additional 15,423 shares in the last quarter. Occudo Quantitative Strategies LP increased its position in Workiva by 50.0% during the 4th quarter. Occudo Quantitative Strategies LP now owns 6,191 shares of the software maker's stock valued at $678,000 after buying an additional 2,065 shares in the last quarter. Nuveen Asset Management LLC increased its position in Workiva by 0.3% during the 4th quarter. Nuveen Asset Management LLC now owns 588,428 shares of the software maker's stock valued at $64,433,000 after buying an additional 1,909 shares in the last quarter. Nomura Holdings Inc. acquired a new position in Workiva during the 4th quarter valued at about $250,000. Finally, Quantinno Capital Management LP increased its holdings in shares of Workiva by 27.5% in the fourth quarter. Quantinno Capital Management LP now owns 3,342 shares of the software maker's stock valued at $366,000 after purchasing an additional 720 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

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.