Stifel Nicolaus Lowers Workiva (NYSE:WK) Price Target to $85.00

Key Points

• Stifel Nicolaus has reduced its target price for Workiva from $100.00 to $85.00, while maintaining a "buy" rating, indicating a potential upside of 6.07% from the last closing price.
• Multiple brokerages have revised their price targets for Workiva, with consensus suggesting an average target price of $98.80 and a "Moderate Buy" rating from analysts.
• Despite a 21.2% year-over-year revenue growth to $215.19 million, Workiva is expected to post a loss of -0.92 earnings per share for the current fiscal year.

Workiva (NYSE:WK - Get Free Report) had its target price reduced by investment analysts at Stifel Nicolaus from $100.00 to $85.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the software maker's stock. Stifel Nicolaus' price objective suggests a potential upside of 5.35% from the stock's current price.

WK has been the topic of a number of other research reports. Robert W. Baird set a $105.00 price target on Workiva in a research note on Wednesday, June 25th. Citigroup restated a "buy" rating and set a $105.00 target price (down from $108.00) on shares of Workiva in a research note on Wednesday, July 16th. Stephens reiterated an "overweight" rating and issued a $95.00 price target on shares of Workiva in a research note on Thursday, May 22nd. Raymond James Financial decreased their price target on Workiva from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday. Finally, The Goldman Sachs Group decreased their price target on Workiva from $118.00 to $105.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $99.22.

Workiva Trading Down 2.6%

Shares of Workiva stock traded down $2.15 on Friday, hitting $80.69. The stock had a trading volume of 299,142 shares, compared to its average volume of 679,905. The company's 50 day moving average price is $68.12 and its 200 day moving average price is $76.74. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of -67.26 and a beta of 0.86. Workiva has a 52-week low of $60.50 and a 52-week high of $116.83.

Workiva (NYSE:WK - Get Free Report) last released its earnings results on Thursday, July 31st. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.14. The business 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 quarter in the previous year, the firm posted $0.16 EPS. Analysts predict that Workiva will post -0.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Workiva

Several hedge funds have recently bought and sold shares of WK. LPL Financial LLC raised its holdings in Workiva by 3.8% in the fourth quarter. LPL Financial LLC now owns 14,534 shares of the software maker's stock worth $1,591,000 after purchasing an additional 527 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Workiva by 21.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,390 shares of the software maker's stock worth $266,000 after acquiring an additional 423 shares during the period. Norges Bank acquired a new stake in shares of Workiva during the fourth quarter worth $59,676,000. Pictet Asset Management Holding SA raised its holdings in shares of Workiva by 12.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 7,187 shares of the software maker's stock worth $787,000 after acquiring an additional 785 shares during the period. Finally, California Public Employees Retirement System raised its holdings in shares of Workiva by 12.2% during the fourth quarter. California Public Employees Retirement System now owns 195,859 shares of the software maker's stock worth $21,447,000 after acquiring an additional 21,361 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.