Workiva (NYSE:WK) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Workiva (NYSE:WK) had its price target increased by stock analysts at Stifel Nicolaus from $85.00 to $102.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the software maker’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 10.98% from the stock’s current price.

Several other research analysts also recently commented on the stock. StockNews.com downgraded shares of Workiva from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Robert W. Baird boosted their price objective on shares of Workiva from $94.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday. BMO Capital Markets boosted 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. Finally, Northland Securities lowered their price objective on shares of Workiva from $106.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Workiva currently has a consensus rating of “Moderate Buy” and an average price target of $103.20.

Workiva Stock Performance

Workiva stock traded up $4.28 during midday trading on Thursday, reaching $91.91. 760,712 shares of the company’s stock were exchanged, compared to its average volume of 371,831. Workiva has a 52 week low of $65.47 and a 52 week high of $105.00. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of -55.84 and a beta of 1.05. The stock’s 50-day simple moving average is $78.12 and its 200 day simple moving average is $77.04.

Workiva (NYSE:WK) last issued its quarterly earnings data on Wednesday, November 6th. The software maker reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.06). The firm had revenue of $185.62 million during the quarter, compared to the consensus estimate of $182.50 million. Research analysts forecast that Workiva will post -0.86 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Michael D. Hawkins sold 2,761 shares of Workiva stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.60, for a total value of $205,970.60. Following the completion of the transaction, the executive vice president now directly owns 49,887 shares in the company, valued at approximately $3,721,570.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.86% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WK. V Square Quantitative Management LLC bought a new stake in Workiva in the third quarter worth $28,000. Quarry LP raised its stake in shares of Workiva by 57.8% during the second quarter. Quarry LP now owns 453 shares of the software maker’s stock valued at $33,000 after acquiring an additional 166 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Workiva during the first quarter valued at about $40,000. Point72 Hong Kong Ltd bought a new position in shares of Workiva during the second quarter valued at about $62,000. Finally, Headlands Technologies LLC raised its stake in shares of Workiva by 896.0% during the second quarter. Headlands Technologies LLC now owns 1,753 shares of the software maker’s stock valued at $128,000 after acquiring an additional 1,577 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

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.