Workiva (NYSE:WK) Stock Rating Upgraded by Raymond James

Workiva (NYSE:WK) was upgraded by stock analysts at Raymond James from a “market perform” rating to an “outperform” rating in a report released on Friday, Marketbeat Ratings reports. The firm currently has a $135.00 price target on the software maker’s stock. Raymond James’ target price points to a potential upside of 24.00% from the stock’s previous close.

Several other brokerages have also issued reports on WK. Citigroup lifted their price target on Workiva from $116.00 to $128.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Robert W. Baird boosted their target price on Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. BMO Capital Markets increased their price target on shares of Workiva from $96.00 to $104.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Stifel Nicolaus raised shares of Workiva from a “hold” rating to a “buy” rating and upped their price objective for the company from $102.00 to $130.00 in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $120.33.

Workiva Stock Performance

Workiva stock opened at $108.87 on Friday. Workiva has a fifty-two week low of $65.47 and a fifty-two week high of $116.83. The stock has a market cap of $6.03 billion, a P/E ratio of -118.34 and a beta of 1.09. The firm’s fifty day moving average price is $98.03 and its 200-day moving average price is $83.36.

Institutional Investors Weigh In On Workiva

Several institutional investors have recently added to or reduced their stakes in WK. V Square Quantitative Management LLC bought a new stake in shares of Workiva in the third quarter worth about $28,000. Quarry LP lifted its holdings in Workiva by 57.8% in the 2nd quarter. Quarry LP now owns 453 shares of the software maker’s stock worth $33,000 after buying an additional 166 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Workiva in the 2nd quarter worth approximately $62,000. Headlands Technologies LLC increased its stake in shares of Workiva by 896.0% during the second quarter. Headlands Technologies LLC now owns 1,753 shares of the software maker’s stock valued at $128,000 after buying an additional 1,577 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in shares of Workiva during the third quarter valued at approximately $168,000. Hedge funds and other institutional investors 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.