Brokerages Set Workiva Inc. (NYSE:WK) Target Price at $107.90

Workiva Inc. (NYSE:WK) has earned a consensus rating of “Buy” from the ten brokerages that are currently covering the stock, Marketbeat.com reports. Ten research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have covered the stock in the last year is $107.90.

A number of research analysts have recently weighed in on WK shares. The Goldman Sachs Group dropped their target price on Workiva from $118.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Raymond James dropped their price objective on Workiva from $125.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Citigroup upped their target price on shares of Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Stifel Nicolaus lowered their target price on shares of Workiva from $120.00 to $100.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Finally, Stephens started coverage on shares of Workiva in a report on Wednesday, March 19th. They set an “overweight” rating and a $111.00 price target on the stock.

Insiders Place Their Bets

In other news, Director Robert H. Herz sold 1,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $88.70, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jill Klindt sold 5,593 shares of Workiva stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $85.04, for a total value of $475,628.72. Following the completion of the sale, the chief financial officer now directly owns 119,054 shares of the company’s stock, valued at approximately $10,124,352.16. This trade represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,129 shares of company stock valued at $1,807,333. Company insiders own 3.86% of the company’s stock.

Hedge Funds Weigh In On Workiva

Several large investors have recently modified their holdings of the business. Twin Tree Management LP bought a new position in Workiva in the 4th quarter worth approximately $25,000. SVB Wealth LLC bought a new position in shares of Workiva in the first quarter worth $26,000. Farther Finance Advisors LLC boosted its holdings in shares of Workiva by 705.9% in the first quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker’s stock worth $31,000 after acquiring an additional 360 shares during the period. Harbour Investments Inc. purchased a new position in shares of Workiva in the first quarter valued at $39,000. Finally, Bayforest Capital Ltd bought a new stake in shares of Workiva during the 1st quarter valued at $39,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Workiva Stock Performance

Shares of Workiva stock opened at $71.49 on Friday. The stock has a market capitalization of $4.01 billion, a PE ratio of -77.70 and a beta of 0.98. Workiva has a 52 week low of $60.50 and a 52 week high of $116.83. The stock has a 50 day moving average price of $73.92 and a two-hundred day moving average price of $90.05.

Workiva (NYSE:WK) last posted its quarterly earnings results on Thursday, May 1st. The software maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.07. The business had revenue of $206.28 million during the quarter, compared to analyst estimates of $204.24 million. During the same period in the previous year, the business posted $0.22 EPS. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. Research analysts forecast that Workiva will post -0.92 EPS for the current year.

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.