Workiva Inc. (NYSE:WK) Receives Consensus Recommendation of "Buy" from Analysts

Workiva Inc. (NYSE:WK - Get Free Report) has earned an average rating of "Buy" from the ten brokerages that are presently covering the company, Marketbeat reports. Ten research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have issued a report on the stock in the last year is $107.90.

A number of equities analysts recently weighed in on WK shares. BMO Capital Markets lowered their price target on shares of Workiva from $120.00 to $108.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Raymond James lowered their target price on shares of Workiva from $125.00 to $105.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Truist Financial lowered 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. Citigroup boosted their price target on shares of Workiva from $128.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Finally, BNP Paribas assumed coverage on shares of Workiva in a research report on Tuesday, April 22nd. They issued an "outperform" rating and a $100.00 price target for the company.

Insiders Place Their Bets

In other Workiva news, CAO Brandon Ziegler sold 4,115 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $85.72, for a total value of $352,737.80. Following the transaction, the chief accounting officer now owns 103,509 shares in the company, valued at approximately $8,872,791.48. This represents a 3.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert H. Herz sold 1,000 shares of Workiva stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $88.70, for a total value of $88,700.00. Following the sale, the director now owns 34,084 shares of the company's stock, valued at approximately $3,023,250.80. This represents a 2.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,129 shares of company stock valued at $1,807,333 in the last quarter. Insiders own 3.86% of the company's stock.

Institutional Investors Weigh In On Workiva

A number of large investors have recently bought and sold shares of the business. Twin Tree Management LP acquired a new stake in shares of Workiva in the fourth quarter valued at about $25,000. SVB Wealth LLC bought a new position in shares of Workiva during the first quarter valued at $26,000. Farther Finance Advisors LLC grew its stake in Workiva by 705.9% during the first quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker's stock worth $31,000 after buying an additional 360 shares during the last quarter. Bayforest Capital Ltd bought a new position in Workiva in the 1st quarter valued at $39,000. Finally, Harbour Investments Inc. bought a new stake in Workiva during the 1st quarter worth about $39,000. 92.21% of the stock is currently owned by institutional investors.

Workiva Price Performance

NYSE:WK opened at $71.72 on Friday. Workiva has a 1-year low of $60.50 and a 1-year high of $116.83. The firm has a market capitalization of $4.03 billion, a P/E ratio of -77.96 and a beta of 0.98. The company's fifty day moving average price is $74.19 and its 200-day moving average price is $89.97.

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 business had revenue of $206.28 million during the quarter, compared to analysts' expectations of $204.24 million. Workiva's revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.22 EPS. Equities analysts anticipate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.