Workiva (NYSE:WK) Stock Price Expected to Rise, Citigroup Analyst Says

Workiva (NYSE:WK) had its price objective boosted by equities researchers at Citigroup from $116.00 to $128.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Citigroup’s target price would suggest a potential upside of 17.11% from the company’s previous close.

Several other equities research analysts have also recently commented on the stock. Stifel Nicolaus lifted their price target on shares of Workiva from $85.00 to $102.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. BMO Capital Markets lifted their target price on shares of Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Robert W. Baird raised their price target on Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $111.80.

Workiva Stock Up 3.7 %

Workiva stock opened at $109.30 on Monday. The business’s 50-day simple moving average is $89.86 and its 200 day simple moving average is $80.21. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of -118.79 and a beta of 1.09. Workiva has a 12-month low of $65.47 and a 12-month high of $109.91.

Institutional Investors Weigh In On Workiva

Large investors have recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new position in shares of Workiva in the 3rd quarter valued at approximately $28,000. Quarry LP raised its holdings in shares of Workiva by 57.8% during the second quarter. Quarry LP now owns 453 shares of the software maker’s stock worth $33,000 after acquiring an additional 166 shares during the period. Point72 Hong Kong Ltd acquired a new position in Workiva in the 2nd quarter worth $62,000. Headlands Technologies LLC increased its holdings in Workiva by 896.0% during the 2nd quarter. Headlands Technologies LLC now owns 1,753 shares of the software maker’s stock worth $128,000 after purchasing an additional 1,577 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Workiva in the 3rd quarter valued at about $168,000. 92.21% of the stock is currently owned by institutional investors.

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.