Workiva Inc. (NYSE:WK) Receives Average Rating of “Buy” from Analysts

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

WK has been the subject of a number of research reports. Stifel Nicolaus raised 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 note on Wednesday, December 18th. Raymond James raised Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price objective for the company in a research note on Friday, January 3rd. Citigroup raised their price objective on Workiva from $116.00 to $128.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Robert W. Baird raised their target price on Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, BMO Capital Markets raised their target price on Workiva from $96.00 to $104.00 and gave the company an “outperform” rating in a report on Thursday, November 7th.

Workiva Stock Performance

Shares of Workiva stock opened at $105.80 on Friday. Workiva has a 52 week low of $65.47 and a 52 week high of $116.83. The stock has a 50 day moving average price of $101.19 and a two-hundred day moving average price of $84.74. The stock has a market capitalization of $5.86 billion, a PE ratio of -115.00 and a beta of 1.07.

Institutional Trading of Workiva

A number of hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in shares of Workiva by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,144,826 shares of the software maker’s stock valued at $90,597,000 after buying an additional 35,029 shares during the period. Loomis Sayles & Co. L P raised its stake in shares of Workiva by 13.5% in the third quarter. Loomis Sayles & Co. L P now owns 728,375 shares of the software maker’s stock valued at $57,629,000 after buying an additional 86,746 shares during the period. Nordea Investment Management AB bought a new stake in shares of Workiva in the fourth quarter valued at $59,894,000. Groupama Asset Managment purchased a new position in shares of Workiva in the third quarter valued at $381,000. Finally, TimesSquare Capital Management LLC grew its position in shares of Workiva by 4.3% in 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. 92.21% of the stock is currently owned by institutional investors.

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.