Workiva Inc. (NYSE:WK) Given Average Rating of "Buy" by Brokerages

Key Points

• Workiva Inc. has received a consensus rating of "Buy" from ten analysts, with an average twelve-month target price of $101.30.
• Institutional investors hold 92.21% of Workiva's stock, with notable acquisitions including a new stake from Eminence Capital worth $64.9 million.
• Workiva's recent earnings report showed a 17.4% year-over-year revenue increase, with an EPS of $0.14, exceeding analysts' expectations.

Workiva Inc. (NYSE:WK - Get Free Report) has earned a consensus recommendation of "Buy" from the nine research firms that are covering the company, Marketbeat reports. Nine equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $99.22.

A number of research firms have recently weighed in on WK. Stephens restated an "overweight" rating and issued a $95.00 price target on shares of Workiva in a report on Thursday, May 22nd. Truist Financial decreased their price objective on shares of 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 target price on shares of Workiva in a research note on Wednesday, June 25th. The Goldman Sachs Group reduced their price objective 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. Finally, Raymond James Financial reduced their price objective on shares of Workiva from $105.00 to $95.00 and set an "outperform" rating for the company in a research report on Friday.

Workiva Price Performance

NYSE WK traded up $20.63 during trading on Wednesday, reaching $84.46. 3,792,338 shares of the company's stock traded hands, compared to its average volume of 517,763. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of -70.38 and a beta of 0.86. The company's 50 day simple moving average is $67.81 and its two-hundred day simple moving average is $77.46. Workiva has a 12-month low of $60.50 and a 12-month high of $116.83.

Workiva (NYSE:WK - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The software maker reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.14. The firm had revenue of $215.19 million during the quarter, compared to the consensus estimate of $208.92 million. During the same quarter in the prior year, the business posted $0.16 earnings per share. The firm's quarterly revenue was up 21.2% on a year-over-year basis. Research analysts expect that Workiva will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of WK. Commonwealth Equity Services LLC lifted its position in shares of Workiva by 13.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 7,510 shares of the software maker's stock worth $822,000 after purchasing an additional 896 shares in the last quarter. LPL Financial LLC increased its stake in Workiva by 3.8% in the fourth quarter. LPL Financial LLC now owns 14,534 shares of the software maker's stock valued at $1,591,000 after purchasing an additional 527 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Workiva by 21.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,390 shares of the software maker's stock valued at $266,000 after purchasing an additional 423 shares during the last quarter. Norges Bank purchased a new position in Workiva in the fourth quarter valued at approximately $59,676,000. Finally, Pictet Asset Management Holding SA increased its stake in Workiva by 12.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 7,187 shares of the software maker's stock valued at $787,000 after purchasing an additional 785 shares during the last quarter. Hedge funds and other 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.