Workiva (NYSE:WK) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Workiva (NYSE:WK) had its price target hoisted by The Goldman Sachs Group from $120.00 to $133.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 25.77% from the stock’s previous close.

A number of other equities analysts have also recently commented on WK. Robert W. Baird lifted their price objective on shares of Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Raymond James upgraded Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 target price for the company in a research report on Friday, January 3rd. BMO Capital Markets raised their price objective on Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Citigroup upped their target price on Workiva from $116.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Finally, Stifel Nicolaus raised Workiva from a “hold” rating to a “buy” rating and increased their price target for the stock from $102.00 to $130.00 in a research report on Wednesday, December 18th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Workiva currently has a consensus rating of “Moderate Buy” and an average price target of $122.14.

Workiva Stock Performance

WK opened at $105.75 on Tuesday. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of -114.95 and a beta of 1.07. Workiva has a fifty-two week low of $65.47 and a fifty-two week high of $116.83. The company has a fifty day moving average of $101.72 and a 200 day moving average of $85.14.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Versor Investments LP purchased a new position in shares of Workiva in the third quarter worth about $1,217,000. TimesSquare Capital Management LLC boosted its position in Workiva by 4.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 467,769 shares of the software maker’s stock worth $37,010,000 after purchasing an additional 19,095 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in shares of Workiva by 138.8% during the 3rd quarter. Mutual of America Capital Management LLC now owns 54,059 shares of the software maker’s stock worth $4,277,000 after purchasing an additional 31,421 shares during the period. Nordea Investment Management AB purchased a new position in shares of Workiva during the 4th quarter valued at approximately $59,894,000. Finally, GSA Capital Partners LLP purchased a new stake in Workiva during the third quarter worth $641,000. 92.21% of the stock is owned by institutional investors and hedge funds.

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.