Workiva Inc. (NYSE:WK) Receives $122.14 Average Price Target from Analysts

Shares of Workiva Inc. (NYSE:WK) have been assigned a consensus rating of “Buy” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $122.14.

A number of equities analysts have recently issued reports on WK shares. Robert W. Baird upped 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. The Goldman Sachs Group upped their target price on Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Stifel Nicolaus raised Workiva from a “hold” rating to a “buy” rating and raised their price target for the stock from $102.00 to $130.00 in a report on Wednesday, December 18th. BMO Capital Markets upped their price objective on shares of Workiva from $96.00 to $104.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Raymond James raised shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price objective for the company in a research report on Friday, January 3rd.

Workiva Stock Performance

NYSE:WK opened at $94.20 on Wednesday. The firm has a 50-day simple moving average of $106.07 and a 200-day simple moving average of $89.83. Workiva has a one year low of $65.47 and a one year high of $116.83. The firm has a market cap of $5.22 billion, a P/E ratio of -102.39 and a beta of 1.06.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Versor Investments LP purchased a new position in Workiva in the 3rd quarter valued at $1,217,000. SG Americas Securities LLC raised its position in shares of Workiva by 141.6% in the fourth quarter. SG Americas Securities LLC now owns 9,341 shares of the software maker’s stock valued at $1,023,000 after buying an additional 5,475 shares during the last quarter. TimesSquare Capital Management LLC lifted its stake 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 worth $37,010,000 after buying an additional 19,095 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in 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 worth $4,277,000 after acquiring an additional 31,421 shares during the last quarter. Finally, Nordea Investment Management AB purchased a new stake in Workiva during the 4th quarter valued at about $59,894,000. Institutional investors and hedge funds 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.