Workiva Inc. (NYSE:WK) Given Consensus Recommendation of “Buy” by Analysts

Workiva Inc. (NYSE:WK) has been given a consensus recommendation of “Buy” by the ten analysts that are presently covering the company, MarketBeat Ratings reports. Ten analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $106.30.

A number of analysts have recently weighed in on the company. Citigroup upped their price objective on Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Truist Financial lowered their target price on Workiva from $120.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Stifel Nicolaus cut their price target on Workiva from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. BMO Capital Markets reduced their price target on Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Finally, BNP Paribas assumed coverage on Workiva in a research note on Tuesday, April 22nd. They issued an “outperform” rating and a $100.00 price objective for the company.

Workiva Stock Performance

Shares of WK opened at $69.65 on Tuesday. The stock has a market capitalization of $3.88 billion, a PE ratio of -75.70 and a beta of 0.88. Workiva has a 1 year low of $60.50 and a 1 year high of $116.83. The company’s 50-day simple moving average is $68.80 and its 200-day simple moving average is $87.57.

Workiva (NYSE:WK) last announced its earnings results on Thursday, May 1st. The software maker reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.07. The business had revenue of $206.28 million for the quarter, compared to analysts’ expectations of $204.24 million. Workiva’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 earnings per share. On average, sell-side analysts predict that Workiva will post -0.92 earnings per share for the current year.

Insider Activity

In other news, Director Robert H. Herz sold 1,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $88.70, for a total value of $88,700.00. Following the completion of the transaction, the director now owns 34,084 shares in the company, valued at approximately $3,023,250.80. This represents a 2.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 4.05% of the company’s stock.

Hedge Funds Weigh In On Workiva

Several large investors have recently bought and sold shares of the stock. Twin Tree Management LP acquired a new stake in shares of Workiva in the 4th quarter valued at about $25,000. SVB Wealth LLC acquired a new position in shares of Workiva in the 1st quarter valued at $26,000. Farther Finance Advisors LLC raised its position in Workiva by 705.9% in the 1st quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker’s stock valued at $31,000 after purchasing an additional 360 shares during the last quarter. Harbour Investments Inc. acquired a new stake in Workiva during the 1st quarter worth $39,000. Finally, Bayforest Capital Ltd purchased a new position in Workiva during the 1st quarter worth $39,000. Institutional investors and hedge funds 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.