Workiva (NYSE:WK) had its price objective boosted by equities research analysts at Stifel Nicolaus from $68.00 to $75.00 in a research note issued on Wednesday, The Fly reports. Stifel Nicolaus' target price indicates a potential upside of 28.60% from the stock's previous close.
Several other analysts have also weighed in on WK. Morgan Stanley boosted their price objective on Workiva from $30.00 to $48.00 and gave the company an "underweight" rating in a report on Wednesday. Zacks Investment Research lowered shares of Workiva from a "hold" rating to a "sell" rating in a research note on Saturday, July 4th. Robert W. Baird set a $65.00 price objective on shares of Workiva and gave the company an "outperform" rating in a report on Tuesday, July 14th. SunTrust Banks lowered their target price on Workiva from $65.00 to $57.00 and set a "buy" rating on the stock in a report on Friday, May 1st. Finally, Goldman Sachs Group upped their price target on Workiva from $41.00 to $52.00 in a report on Monday, June 29th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of "Hold" and an average price target of $55.29.
WK traded down $0.09 during trading on Wednesday, reaching $58.32. The company's stock had a trading volume of 17,889 shares, compared to its average volume of 268,268. The company's fifty day moving average price is $53.81 and its 200-day moving average price is $43.45. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of -53.50 and a beta of 1.24. The company has a debt-to-equity ratio of 4.57, a quick ratio of 2.55 and a current ratio of 2.55. Workiva has a 52-week low of $22.01 and a 52-week high of $64.11.
Workiva (NYSE:WK) last issued its quarterly earnings data on Tuesday, August 4th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of ($0.15) by $0.09. The business had revenue of $83.86 million for the quarter, compared to the consensus estimate of $80.59 million. Workiva had a negative return on equity of 85.23% and a negative net margin of 16.33%. Workiva's quarterly revenue was up 14.1% compared to the same quarter last year. Equities analysts predict that Workiva will post -1.36 earnings per share for the current year.
In other Workiva news, Director Michael M. Crow sold 10,000 shares of the firm's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $40.56, for a total transaction of $405,600.00. Following the completion of the transaction, the director now owns 24,889 shares in the company, valued at $1,009,497.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 14.95% of the company's stock.
A number of hedge funds have recently made changes to their positions in the stock. Riverbridge Partners LLC grew its stake in Workiva by 50.9% during the second quarter. Riverbridge Partners LLC now owns 1,436,587 shares of the software maker's stock worth $76,843,000 after buying an additional 484,624 shares during the last quarter. State Street Corp grew its stake in Workiva by 0.4% during the first quarter. State Street Corp now owns 765,501 shares of the software maker's stock worth $24,749,000 after purchasing an additional 3,251 shares during the period. First Trust Advisors LP boosted its holdings in shares of Workiva by 71.6% during the 2nd quarter. First Trust Advisors LP now owns 691,005 shares of the software maker's stock worth $36,962,000 after buying an additional 288,206 shares in the last quarter. Norges Bank bought a new position in shares of Workiva during the 4th quarter worth approximately $27,714,000. Finally, Geode Capital Management LLC grew its position in shares of Workiva by 6.1% during the 1st quarter. Geode Capital Management LLC now owns 522,996 shares of the software maker's stock worth $16,908,000 after buying an additional 30,064 shares during the period. 61.11% of the stock is owned by hedge funds and other institutional investors.
Workiva Inc provides cloud-based solutions for connected data, reporting, and compliance worldwide. The company offers Wdesk, a platform that provides data collection and linking, data integrations, controlled collaboration, granular permissions, process management, and full audit trail services; and Wdata, which includes data preparation tools, data connectors, and application programming interfaces that enable customers to create direct connections to their data.
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