Citigroup Issues Positive Forecast for Workiva (NYSE:WK) Stock Price

Workiva (NYSE:WK - Get Free Report) had its price objective boosted by stock analysts at Citigroup from $116.00 to $128.00 in a report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the software maker's stock. Citigroup's price objective would suggest a potential upside of 21.30% from the company's previous close.

A number of other research analysts also recently commented on WK. Stifel Nicolaus boosted their target price on Workiva from $85.00 to $102.00 and gave the company a "hold" rating in a research note on Thursday, November 7th. BMO Capital Markets raised 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, November 7th. Finally, Robert W. Baird boosted their target price on shares of Workiva from $110.00 to $130.00 and gave the stock an "outperform" rating in a research report on Friday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Workiva currently has a consensus rating of "Moderate Buy" and an average target price of $111.80.

Workiva Stock Performance

Shares of NYSE WK traded up $1.65 during mid-day trading on Monday, reaching $105.52. The company had a trading volume of 543,891 shares, compared to its average volume of 378,035. The company has a market capitalization of $5.84 billion, a price-to-earnings ratio of -114.70 and a beta of 1.09. The stock has a fifty day moving average of $89.86 and a two-hundred day moving average of $80.21. Workiva has a 12-month low of $65.47 and a 12-month high of $106.41.

Hedge Funds Weigh In On Workiva

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Versor Investments LP bought a new stake in shares of Workiva during the 3rd quarter worth $1,217,000. TimesSquare Capital Management LLC lifted its position in Workiva by 4.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 467,769 shares of the software maker's stock worth $37,010,000 after acquiring an additional 19,095 shares during the last quarter. Mutual of America Capital Management LLC boosted its holdings 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 valued at $4,277,000 after acquiring an additional 31,421 shares during the period. GSA Capital Partners LLP bought a new stake in Workiva during the third quarter valued at about $641,000. Finally, Impax Asset Management Group plc grew its position in shares of Workiva by 16.5% in the third quarter. Impax Asset Management Group plc now owns 158,586 shares of the software maker's stock valued at $12,547,000 after purchasing an additional 22,500 shares during the last quarter. 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.