Workiva (NYSE:WK) Stock Price Down 9.6% After Analyst Downgrade

Key Points

• Shares dropped 9.6% intraday after BTIG cut its price target from $90 to $80 (maintaining a Buy), with only 233,391 shares trading versus an average of 987,486, a move that weighed on sentiment despite a broader analyst consensus of "Moderate Buy" (consensus PT $93.17).
• Fundamentals were strong: Workiva beat Q1 estimates (EPS $0.77 vs. $0.66; revenue $247.3M, +19.9% YoY), raised Q2 and FY26 guidance well above consensus, and authorized a $250 million share buyback.

Shares of Workiva Inc. (NYSE:WK - Get Free Report) traded down 9.6% during mid-day trading on Wednesday after BTIG Research lowered their price target on the stock from $90.00 to $80.00. BTIG Research currently has a buy rating on the stock. Workiva traded as low as $49.44 and last traded at $50.09. 233,391 shares were traded during trading, a decline of 76% from the average session volume of 987,486 shares. The stock had previously closed at $55.41.

A number of other research analysts have also weighed in on the stock. The Goldman Sachs Group reiterated a "buy" rating and issued a $102.00 price objective on shares of Workiva in a research note on Friday, February 20th. Robert W. Baird reduced their price objective on shares of Workiva from $115.00 to $86.00 and set an "outperform" rating for the company in a research note on Friday, February 20th. Stifel Nicolaus reduced their price objective on shares of Workiva from $98.00 to $79.00 and set a "buy" rating for the company in a research note on Friday, February 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Workiva in a research note on Wednesday, January 21st. Finally, Citigroup reiterated a "buy" rating on shares of Workiva in a research note on Monday, February 23rd. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $93.17.

Workiva News Roundup

Here are the key news stories impacting Workiva this week:

• Positive Sentiment: Q1 results beat expectations: Workiva reported $0.77 EPS vs. $0.66 consensus and revenue of $247.3M (up 19.9% YoY), signaling continued top-line growth and margin improvement. Press Release
• Positive Sentiment: Management raised guidance materially: Q2 EPS 0.62–0.65 (vs. ~0.42 consensus) and FY26 EPS 2.85–2.95 (vs. ~2.28 consensus). Upward guidance is a clear catalyst for earnings re‑rating if execution continues. Company Release
• Neutral Sentiment: Earnings call transcript and materials are available for detail on product adoption, AI initiatives and margin drivers — useful for assessing whether upside guidance is sustainable. Earnings Transcript
• Neutral Sentiment: Analyst and media write-ups (Zacks, MarketBeat, Yahoo) provide model comparisons and valuation context; they largely reflect the beats and guidance but note mixed momentum vs. prior highs. Zacks Coverage
• Negative Sentiment: BTIG cut its price target from $90 to $80 (still a Buy), trimming implied upside and indicating some analyst caution despite the beat. That target reset can pressure sentiment even with positive fundamentals. BTIG PT Cut
• Negative Sentiment: Technicals and momentum are weak: shares are trading below key moving averages and nearer the 12‑month low than the high, which can amplify downside on headline-driven volume. Market Data

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Wealth Alliance LLC grew its position in shares of Workiva by 4.7% during the 3rd quarter. Wealth Alliance LLC now owns 3,268 shares of the software maker's stock valued at $281,000 after purchasing an additional 146 shares in the last quarter. LPL Financial LLC grew its position in shares of Workiva by 0.9% during the 4th quarter. LPL Financial LLC now owns 20,475 shares of the software maker's stock valued at $1,766,000 after purchasing an additional 185 shares in the last quarter. Allworth Financial LP grew its position in shares of Workiva by 82.3% during the 3rd quarter. Allworth Financial LP now owns 412 shares of the software maker's stock valued at $35,000 after purchasing an additional 186 shares in the last quarter. Arizona State Retirement System grew its position in shares of Workiva by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 14,586 shares of the software maker's stock valued at $1,256,000 after purchasing an additional 195 shares in the last quarter. Finally, State of Wyoming grew its position in shares of Workiva by 15.4% during the 3rd quarter. State of Wyoming now owns 1,553 shares of the software maker's stock valued at $134,000 after purchasing an additional 207 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Workiva Stock Performance

The business's 50-day moving average price is $58.74 and its 200 day moving average price is $75.12. The stock has a market capitalization of $2.94 billion, a PE ratio of -108.34 and a beta of 0.54.

Workiva (NYSE:WK - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The software maker reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.11. The firm had revenue of $247.31 million for the quarter, compared to analysts' expectations of $245.17 million. During the same quarter last year, the firm earned $0.14 earnings per share. The firm's revenue for the quarter was up 19.9% on a year-over-year basis. Workiva has set its FY 2026 guidance at 2.850-2.950 EPS and its Q2 2026 guidance at 0.620-0.650 EPS. As a group, equities research analysts predict that Workiva Inc. will post 0.53 earnings per share for the current year.

Workiva announced that its board has initiated a share repurchase program on Monday, February 16th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the software maker to purchase up to 7.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

About Workiva

Workiva, originally founded as WebFilings in 2008, delivers a cloud-native platform designed to streamline and connect data, documents and teams for reporting and compliance. Its flagship Workiva platform supports a range of applications including financial reporting, regulatory filings, internal controls documentation, risk management and environmental, social and governance (ESG) disclosures. By centralizing data and automating workflows, the company helps organizations improve accuracy, transparency and auditability across critical reporting processes.

The Workiva platform offers modular solutions that integrate with existing enterprise systems and data sources.

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