Workiva (NYSE:WK) Price Target Lowered to $95.00 at Raymond James Financial

Key Points

• Raymond James Financial has lowered its price target for Workiva from $105.00 to $95.00, while still maintaining an "outperform" rating, suggesting a potential upside of 21.57% from the previous close.
• Despite the lowered target, Workiva's stock recently traded up 22.4%, reaching $78.15, with a reported market cap of $4.36 billion.
• Analysts have varying opinions, with one rating a hold and ten issuing buy ratings, resulting in a consensus rating of "Moderate Buy" and an average target price of $100.30.

Workiva (NYSE:WK - Get Free Report) had its price target lowered by stock analysts at Raymond James Financial from $105.00 to $95.00 in a report released on Friday,Benzinga reports. The firm presently has an "outperform" rating on the software maker's stock. Raymond James Financial's target price suggests a potential upside of 21.57% from the company's previous close.

Other research analysts have also recently issued research reports about the stock. Robert W. Baird set a $105.00 price target on shares of Workiva in a research note on Wednesday, June 25th. 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 target on the stock. Stifel Nicolaus decreased their target price on shares of Workiva from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Stephens reaffirmed an "overweight" rating and issued a $95.00 price target on shares of Workiva in a report on Thursday, May 22nd. Finally, 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 research note on Monday, April 7th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, Workiva has a consensus rating of "Moderate Buy" and an average target price of $100.30.

Workiva Stock Up 22.4%

Shares of Workiva stock traded up $14.32 during trading on Friday, reaching $78.15. 495,052 shares of the stock were exchanged, compared to its average volume of 650,199. The stock's fifty day moving average is $67.46 and its 200 day moving average is $77.63. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of -66.79 and a beta of 0.86. Workiva has a 1 year low of $60.50 and a 1 year high of $116.83.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of WK. SVB Wealth LLC purchased a new stake in shares of Workiva during the first quarter valued at approximately $26,000. Farther Finance Advisors LLC boosted its holdings in Workiva by 705.9% in the first quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker's stock worth $31,000 after purchasing an additional 360 shares during the period. Bayforest Capital Ltd acquired a new position in shares of Workiva during the first quarter valued at $39,000. Harbour Investments Inc. acquired a new position in shares of Workiva during the first quarter valued at $39,000. Finally, Bessemer Group Inc. raised its stake in shares of Workiva by 109.2% during the first quarter. Bessemer Group Inc. now owns 567 shares of the software maker's stock valued at $43,000 after purchasing an additional 296 shares in 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.

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