Brokerages Set Workiva Inc. (NYSE:WK) Target Price at $122.14

Workiva Inc. (NYSE:WK - Get Free Report) has received a consensus rating of "Buy" from the eight analysts that are currently covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $122.14.

WK has been the subject of several analyst reports. 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. 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. Robert W. Baird raised their price objective on Workiva from $110.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. BMO Capital Markets raised their price objective on Workiva from $96.00 to $104.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group raised their price objective on Workiva from $120.00 to $133.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th.

Hedge Funds Weigh In On Workiva

Institutional investors and hedge funds have recently modified their holdings of the stock. Conestoga Capital Advisors LLC increased its stake in shares of Workiva by 13.7% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker's stock valued at $127,570,000 after purchasing an additional 140,310 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Workiva by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,144,826 shares of the software maker's stock worth $90,597,000 after purchasing an additional 35,029 shares during the last quarter. Loomis Sayles & Co. L P boosted its holdings in shares of Workiva by 13.5% during the 3rd quarter. Loomis Sayles & Co. L P now owns 728,375 shares of the software maker's stock worth $57,629,000 after purchasing an additional 86,746 shares during the last quarter. TimesSquare Capital Management LLC lifted its holdings in Workiva by 19.7% in the fourth quarter. TimesSquare Capital Management LLC now owns 559,961 shares of the software maker's stock valued at $61,316,000 after acquiring an additional 92,192 shares during the last quarter. Finally, Nordea Investment Management AB acquired a new position in Workiva in the fourth quarter valued at approximately $59,894,000. Institutional investors and hedge funds own 92.21% of the company's stock.

Workiva Price Performance

Shares of NYSE:WK traded down $1.30 during trading on Wednesday, hitting $98.84. 325,083 shares of the company's stock were exchanged, compared to its average volume of 718,325. Workiva has a 52-week low of $65.47 and a 52-week high of $116.83. The business's 50-day simple moving average is $106.18 and its 200 day simple moving average is $89.42. The company has a market cap of $5.47 billion, a price-to-earnings ratio of -107.43 and a beta of 1.06.

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.