Workiva (NYSE:WK) Given New $95.00 Price Target at Wolfe Research

Key Points

• Wolfe Research has increased Workiva's price target from $85.00 to $95.00, indicating a potential upside of 24.93% from the current price.
• The company's quarterly earnings surpassed expectations, reporting $0.19 EPS against a consensus estimate of $0.05, with a revenue of $215.19 million, up 21.2% year-over-year.
• Workiva maintains a strong consensus rating of "Buy," with ten analysts endorsing the stock and a consensus price target of $98.80.

Workiva (NYSE:WK - Get Free Report) had its price objective increased by research analysts at Wolfe Research from $85.00 to $95.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the software maker's stock. Wolfe Research's target price points to a potential upside of 24.93% from the stock's current price.

Several other research analysts also recently commented on the stock. Citigroup reissued a "buy" rating and set a $105.00 price objective (down previously from $108.00) on shares of Workiva in a report on Wednesday, July 16th. Stephens reaffirmed an "overweight" rating and issued a $95.00 price target on shares of Workiva in a report on Thursday, May 22nd. Wall Street Zen raised shares of Workiva from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Robert W. Baird set a $105.00 price objective on shares of Workiva in a research report on Wednesday, June 25th. Finally, Raymond James Financial reduced their price objective on shares of Workiva from $105.00 to $95.00 and set an "outperform" rating on the stock in a research report on Friday, August 1st. Ten analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $98.80.

Workiva Price Performance

Shares of NYSE:WK traded down $1.14 during midday trading on Wednesday, hitting $76.04. The company had a trading volume of 292,159 shares, compared to its average volume of 701,032. The company has a market cap of $4.26 billion, a price-to-earnings ratio of -63.30 and a beta of 0.87. Workiva has a 12-month low of $60.50 and a 12-month high of $116.83. The company has a fifty day moving average of $73.42 and a two-hundred day moving average of $73.37.

Workiva (NYSE:WK - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The software maker reported $0.19 EPS for the quarter, topping the consensus estimate of $0.05 by $0.14. The company had revenue of $215.19 million during the quarter, compared to analysts' expectations of $208.92 million. The company's revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter last year, the company earned $0.16 earnings per share. Workiva has set its FY 2025 guidance at 1.310-1.380 EPS. Q3 2025 guidance at 0.370-0.410 EPS. Research analysts expect that Workiva will post -0.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Workiva

Several institutional investors have recently modified their holdings of the business. Lazard Asset Management LLC raised its holdings in shares of Workiva by 10,282.0% in the 4th quarter. Lazard Asset Management LLC now owns 15,573 shares of the software maker's stock valued at $1,705,000 after purchasing an additional 15,423 shares in the last quarter. Occudo Quantitative Strategies LP raised its stake in Workiva by 50.0% during the 4th quarter. Occudo Quantitative Strategies LP now owns 6,191 shares of the software maker's stock worth $678,000 after acquiring an additional 2,065 shares in the last quarter. Nuveen Asset Management LLC raised its stake in Workiva by 0.3% during the 4th quarter. Nuveen Asset Management LLC now owns 588,428 shares of the software maker's stock worth $64,433,000 after acquiring an additional 1,909 shares in the last quarter. Nicholas Investment Partners LP acquired a new stake in Workiva during the 4th quarter worth $1,914,000. Finally, Nomura Holdings Inc. acquired a new stake in Workiva during the 4th quarter worth $250,000. Institutional investors and hedge funds own 92.21% of the company's stock.

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.

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