Brokerages Set Workiva Inc. (NYSE:WK) Price Target at $103.80

Shares of Workiva Inc. (NYSE:WK - Get Free Report) have received an average rating of "Buy" from the ten research firms that are presently covering the stock, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have issued a report on the stock in the last year is $103.80.

A number of research analysts have weighed in on WK shares. The Goldman Sachs Group cut their price objective on shares of Workiva from $118.00 to $105.00 and set a "buy" rating for the company in a report on Thursday, April 17th. BNP Paribas started coverage on Workiva in a research note on Tuesday, April 22nd. They issued an "outperform" rating and a $100.00 price target for the company. Raymond James Financial reduced their price target on Workiva from $125.00 to $105.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Stifel Nicolaus dropped their price objective on Workiva from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Stephens restated an "overweight" rating and issued a $95.00 price objective on shares of Workiva in a research report on Thursday, May 22nd.

Institutional Trading of Workiva

Several large investors have recently made changes to their positions in WK. Twin Tree Management LP acquired a new stake in Workiva during the 4th quarter worth $25,000. SVB Wealth LLC acquired a new position in Workiva during the first quarter worth about $26,000. Farther Finance Advisors LLC grew its stake in Workiva by 705.9% during the 1st quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker's stock valued at $31,000 after acquiring an additional 360 shares in the last quarter. Harbour Investments Inc. acquired a new stake in Workiva in the 1st quarter valued at about $39,000. Finally, Bayforest Capital Ltd acquired a new stake in Workiva in the 1st quarter valued at about $39,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Workiva Stock Up 4.2%

Shares of WK stock traded up $2.85 on Friday, hitting $71.08. The company had a trading volume of 587,462 shares, compared to its average volume of 537,386. Workiva has a twelve month low of $60.50 and a twelve month high of $116.83. The firm has a market cap of $3.96 billion, a P/E ratio of -60.75 and a beta of 0.86. The company has a 50-day moving average price of $68.38 and a 200-day moving average price of $82.49.

Workiva (NYSE:WK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The software maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.07. The company had revenue of $206.28 million for the quarter, compared to analysts' expectations of $204.24 million. The firm's revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 earnings per share. Equities research analysts expect that Workiva will post -0.92 EPS for the current year.

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.