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

Workiva (NYSE:WK) had its price objective boosted by stock analysts at Stifel Nicolaus from $85.00 to $102.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the software maker’s stock. Stifel Nicolaus’ price target suggests a potential upside of 10.98% from the stock’s previous close.

A number of other research firms have also recently commented on WK. StockNews.com cut shares of Workiva from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. BMO Capital Markets increased their price objective on shares of Workiva from $96.00 to $104.00 and gave the company an “outperform” rating in a research report on Thursday. Robert W. Baird increased their price objective on shares of Workiva from $94.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Northland Securities lowered their price objective on shares of Workiva from $106.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Workiva currently has an average rating of “Moderate Buy” and an average price target of $103.20.

Workiva Price Performance

WK stock traded up $4.28 during trading on Thursday, reaching $91.91. The company had a trading volume of 760,712 shares, compared to its average volume of 371,831. Workiva has a 52 week low of $65.47 and a 52 week high of $105.00. The company has a market cap of $5.08 billion, a P/E ratio of -55.84 and a beta of 1.05. The business has a 50 day moving average of $78.12 and a 200 day moving average of $77.04.

Workiva (NYSE:WK) last announced its quarterly earnings data on Wednesday, November 6th. The software maker reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.06). The business had revenue of $185.62 million for the quarter, compared to analyst estimates of $182.50 million. Research analysts expect that Workiva will post -0.86 earnings per share for the current year.

Insiders Place Their Bets

In other Workiva news, EVP Michael D. Hawkins sold 2,761 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.60, for a total value of $205,970.60. Following the transaction, the executive vice president now directly owns 49,887 shares in the company, valued at approximately $3,721,570.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.86% of the company’s stock.

Institutional Investors Weigh In On Workiva

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC purchased a new position in shares of Workiva in the 3rd quarter worth approximately $28,000. Quarry LP grew its position in Workiva by 57.8% during the 2nd quarter. Quarry LP now owns 453 shares of the software maker’s stock worth $33,000 after purchasing an additional 166 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in Workiva during the 1st quarter worth approximately $40,000. Point72 Hong Kong Ltd purchased a new stake in Workiva during the 2nd quarter worth approximately $62,000. Finally, Headlands Technologies LLC grew its position 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 during the last quarter. Institutional investors own 92.21% of the company’s stock.

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.