Workiva Inc. (NYSE:WK) Receives $103.80 Average Price Target from Brokerages

Shares of Workiva Inc. (NYSE:WK - Get Free Report) have received a consensus recommendation of "Buy" from the ten ratings firms that are presently covering the stock, MarketBeat.com reports. Ten research analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $103.80.

Several equities analysts have recently issued reports on the stock. Stephens restated an "overweight" rating and set a $95.00 price objective on shares of Workiva in a report on Thursday, May 22nd. Truist Financial cut their price objective on shares of Workiva from $120.00 to $95.00 and set a "buy" rating on the stock in a report on Monday, April 7th. The Goldman Sachs Group cut their price objective on shares of Workiva from $118.00 to $105.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Raymond James Financial cut their price objective on shares of Workiva from $125.00 to $105.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, BNP Paribas assumed coverage on shares of Workiva in a report on Tuesday, April 22nd. They set an "outperform" rating and a $100.00 price objective on the stock.

Institutional Investors Weigh In On Workiva

Large investors have recently bought and sold shares of the company. Truist Financial Corp purchased a new stake in Workiva in the fourth quarter valued at approximately $211,000. Teacher Retirement System of Texas boosted its position in Workiva by 29.8% in the 4th quarter. Teacher Retirement System of Texas now owns 7,668 shares of the software maker's stock worth $840,000 after purchasing an additional 1,761 shares in the last quarter. GAMMA Investing LLC boosted its position in Workiva by 8,443.7% in the 1st quarter. GAMMA Investing LLC now owns 21,103 shares of the software maker's stock worth $1,602,000 after purchasing an additional 20,856 shares in the last quarter. King Luther Capital Management Corp boosted its position in Workiva by 5.7% in the 4th quarter. King Luther Capital Management Corp now owns 70,360 shares of the software maker's stock worth $7,704,000 after purchasing an additional 3,780 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC boosted its position in Workiva by 1.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 27,170 shares of the software maker's stock worth $2,975,000 after purchasing an additional 383 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

Workiva Price Performance

Workiva stock traded up $1.37 during trading hours on Friday, reaching $69.22. The stock had a trading volume of 238,922 shares, compared to its average volume of 536,376. The company has a market cap of $3.86 billion, a price-to-earnings ratio of -59.16 and a beta of 0.86. The business's 50 day moving average price is $68.55 and its 200-day moving average price is $83.28. Workiva has a 52 week low of $60.50 and a 52 week high of $116.83.

Workiva (NYSE:WK - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The software maker reported $0.14 earnings per share (EPS) 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 analyst estimates of $204.24 million. During the same quarter last year, the company earned $0.22 EPS. The business's revenue was up 17.4% compared to the same quarter last year. On average, sell-side analysts forecast that Workiva will post -0.92 EPS for the current fiscal 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.