Analysts Set Workiva Inc. (NYSE:WK) Target Price at $111.86

Shares of Workiva Inc. (NYSE:WK) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $111.86.

WK has been the subject of a number of recent research reports. BMO Capital Markets decreased their price objective on Workiva from $123.00 to $113.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. Citigroup lowered their price target on Workiva from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Stifel Nicolaus cut their price objective on shares of Workiva from $92.00 to $85.00 and set a “hold” rating on the stock in a report on Wednesday, February 21st. Finally, William Blair reiterated an “outperform” rating on shares of Workiva in a report on Friday, May 3rd.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Workiva during the 4th quarter worth approximately $57,025,000. Loomis Sayles & Co. L P grew its position in Workiva by 159.1% during the third quarter. Loomis Sayles & Co. L P now owns 683,418 shares of the software maker’s stock worth $69,257,000 after buying an additional 419,640 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Workiva during the fourth quarter worth about $36,581,000. Brown Capital Management LLC increased its holdings in shares of Workiva by 22.6% in the 4th quarter. Brown Capital Management LLC now owns 1,271,707 shares of the software maker’s stock worth $129,116,000 after buying an additional 234,255 shares during the last quarter. Finally, Conestoga Capital Advisors LLC increased its stake in Workiva by 21.4% in the first quarter. Conestoga Capital Advisors LLC now owns 1,156,215 shares of the software maker’s stock valued at $98,047,000 after acquiring an additional 203,485 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Workiva Stock Down 2.3 %

Shares of WK opened at $80.15 on Monday. The business’s fifty day moving average is $82.13 and its 200 day moving average is $90.21. Workiva has a 12-month low of $76.63 and a 12-month high of $116.00. The stock has a market cap of $4.39 billion, a P/E ratio of -46.60 and a beta of 1.04.

Workiva (NYSE:WK) last released its quarterly earnings data on Tuesday, February 20th. The software maker reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. The business had revenue of $166.65 million during the quarter, compared to the consensus estimate of $164.44 million. On average, analysts expect that Workiva will post -0.78 EPS for the current year.

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.