Workiva Inc. (NYSE:WK) Receives $120.33 Average Price Target from Brokerages

Workiva Inc. (NYSE:WK) has earned an average rating of “Buy” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $120.33.

WK has been the subject of a number of analyst reports. Stifel Nicolaus upgraded shares of Workiva from a “hold” rating to a “buy” rating and raised their price objective for the company from $102.00 to $130.00 in a research report on Wednesday, December 18th. BMO Capital Markets upped their price target on shares of Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. 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. Raymond James raised Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price target on the stock in a report on Friday, January 3rd. Finally, Citigroup lifted their price target on Workiva from $116.00 to $128.00 and gave the company a “buy” rating in a research report on Monday, December 16th.

Hedge Funds Weigh In On Workiva

A number of institutional investors have recently bought and sold shares of the stock. Versor Investments LP purchased a new stake in shares of Workiva in the 3rd quarter worth about $1,217,000. TimesSquare Capital Management LLC increased its stake in shares of Workiva by 4.3% during the third quarter. TimesSquare Capital Management LLC now owns 467,769 shares of the software maker’s stock valued at $37,010,000 after purchasing an additional 19,095 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of Workiva by 138.8% during the third quarter. Mutual of America Capital Management LLC now owns 54,059 shares of the software maker’s stock valued at $4,277,000 after purchasing an additional 31,421 shares during the last quarter. Nordea Investment Management AB bought a new stake in shares of Workiva in the 4th quarter worth approximately $59,894,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Workiva in the 3rd quarter worth approximately $641,000. 92.21% of the stock is owned by institutional investors.

Workiva Stock Performance

Shares of Workiva stock opened at $105.75 on Friday. The stock has a market capitalization of $5.86 billion, a P/E ratio of -114.95 and a beta of 1.07. Workiva has a 52-week low of $65.47 and a 52-week high of $116.83. The stock’s 50-day simple moving average is $101.72 and its 200 day simple moving average is $85.14.

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.