Citigroup Forecasts Strong Price Appreciation for Workiva (NYSE:WK) Stock

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 - Get Free Report) had its price objective boosted by equities research analysts at Citigroup from $105.00 to $110.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the software maker's stock. Citigroup's target price would suggest a potential upside of 42.59% from the company's previous close.

WK has been the topic of several other reports. Robert W. Baird set a $105.00 target price on shares of Workiva in a research note on Wednesday, June 25th. Stifel Nicolaus raised their price objective on Workiva from $85.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday. Stephens reiterated an "overweight" rating and issued a $95.00 price target on shares of Workiva in a research note on Thursday, May 22nd. Wolfe Research lifted their target price on Workiva from $85.00 to $95.00 and gave the company an "outperform" rating in a research report on Wednesday. Finally, Wall Street Zen raised shares of Workiva from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Ten equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $100.00.

Workiva Stock Up 2.0%

Shares of NYSE:WK traded up $1.53 during midday trading on Thursday, reaching $77.15. The company had a trading volume of 61,245 shares, compared to its average volume of 700,495. Workiva has a 1-year low of $60.50 and a 1-year high of $116.83. The business's 50 day moving average price is $73.57 and its 200 day moving average price is $73.39. The stock has a market cap of $4.32 billion, a PE ratio of -64.21 and a beta of 0.88.

Workiva (NYSE:WK - Get Free Report) last released its quarterly 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 for the quarter, compared to analyst estimates of $208.92 million. The business's revenue for the quarter was up 21.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.16 earnings per share. Workiva has set its FY 2025 guidance at 1.310-1.380 EPS. Q3 2025 guidance at 0.370-0.410 EPS. On average, research analysts expect that Workiva will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WK. SVB Wealth LLC acquired a new position in shares of Workiva during the first quarter worth about $26,000. Farther Finance Advisors LLC raised its holdings in shares of Workiva by 705.9% in the first quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker's stock worth $31,000 after acquiring an additional 360 shares during the last quarter. Bayforest Capital Ltd purchased a new position in Workiva in the 1st quarter valued at about $39,000. Harbour Investments Inc. purchased a new position in shares of Workiva during the 1st quarter worth $39,000. Finally, Bessemer Group Inc. increased its stake in shares of Workiva by 109.2% during the 1st quarter. Bessemer Group Inc. now owns 567 shares of the software maker's stock valued at $43,000 after acquiring an additional 296 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

About Workiva

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.

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