Stifel Nicolaus Issues Pessimistic Forecast for Workiva (NYSE:WK) Stock Price

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 decreased by equities researchers at Stifel Nicolaus from $100.00 to $85.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the software maker's stock. Stifel Nicolaus' target price suggests a potential upside of 6.07% from the company's previous close.

WK has been the subject of several other research reports. Truist Financial cut their price target on Workiva from $120.00 to $95.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Robert W. Baird set a $105.00 price objective on Workiva in a research note on Wednesday, June 25th. Raymond James Financial decreased their price target on shares of Workiva from $105.00 to $95.00 and set an "outperform" rating on the stock in a report on Friday. Stephens restated an "overweight" rating and issued a $95.00 target price on shares of Workiva in a research report on Thursday, May 22nd. Finally, The Goldman Sachs Group cut their price target on shares of Workiva from $118.00 to $105.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Workiva has an average rating of "Moderate Buy" and a consensus target price of $98.80.

Workiva Price Performance

Shares of WK stock traded up $16.30 on Friday, hitting $80.13. The stock had a trading volume of 1,576,286 shares, compared to its average volume of 659,705. The business has a 50 day moving average of $67.46 and a 200 day moving average of $77.63. Workiva has a 12-month low of $60.50 and a 12-month high of $116.83. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of -68.61 and a beta of 0.86.

Workiva (NYSE:WK - Get Free Report) last posted its earnings results on Thursday, July 31st. The software maker reported $0.19 EPS 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 the consensus estimate of $208.92 million. Workiva's quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 EPS. As a group, research analysts expect that Workiva will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of Workiva

Several institutional investors and hedge funds have recently modified their holdings of the stock. SVB Wealth LLC bought a new position in shares of Workiva during the 1st quarter worth $26,000. Farther Finance Advisors LLC lifted its stake in 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 period. Bayforest Capital Ltd bought a new position in Workiva during the 1st quarter worth about $39,000. Harbour Investments Inc. bought a new position in Workiva during the 1st quarter worth about $39,000. Finally, Bessemer Group Inc. grew its holdings in Workiva by 109.2% during the 1st quarter. Bessemer Group Inc. now owns 567 shares of the software maker's stock worth $43,000 after acquiring an additional 296 shares in the last quarter. Institutional investors own 92.21% of the company's stock.

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.

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