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

Workiva Inc. (NYSE:WK - Get Free Report) has received a consensus rating of "Buy" from the ten brokerages that are covering the company, Marketbeat.com reports. Ten investment analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $106.30.

WK has been the subject of a number of research analyst reports. Stephens reiterated an "overweight" rating and issued a $95.00 price target on shares of Workiva in a research note on Thursday, May 22nd. Stifel Nicolaus decreased their price objective on Workiva from $120.00 to $100.00 and set a "buy" rating for the company in a report on Friday, May 2nd. BNP Paribas began coverage on Workiva in a research report on Tuesday, April 22nd. They set an "outperform" rating and a $100.00 price target for the company. 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. Finally, Raymond James lowered their price objective on Workiva from $125.00 to $105.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd.

Hedge Funds Weigh In On Workiva

Several institutional investors have recently bought and sold shares of WK. Allspring Global Investments Holdings LLC purchased a new stake in Workiva during the 4th quarter worth approximately $5,210,000. Legato Capital Management LLC acquired a new stake in Workiva in the 4th quarter valued at about $226,000. Ingalls & Snyder LLC grew its position in shares of Workiva by 3.5% during the fourth quarter. Ingalls & Snyder LLC now owns 72,819 shares of the software maker's stock worth $7,974,000 after buying an additional 2,466 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Workiva by 2.2% during the fourth quarter. Rhumbline Advisers now owns 71,574 shares of the software maker's stock worth $7,837,000 after buying an additional 1,563 shares during the period. Finally, Truist Financial Corp acquired a new stake in Workiva in the fourth quarter valued at approximately $211,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Workiva Stock Performance

WK traded down $1.10 on Tuesday, hitting $65.70. The company had a trading volume of 414,863 shares, compared to its average volume of 534,897. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of -71.41 and a beta of 0.88. The stock has a fifty day moving average price of $68.81 and a 200-day moving average price of $87.08. Workiva has a 12-month low of $60.50 and a 12-month 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 EPS for the quarter, topping the consensus estimate of $0.07 by $0.07. The firm had revenue of $206.28 million for the quarter, compared to the consensus estimate of $204.24 million. The company's revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.22 EPS. 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.