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

Shares of Workiva Inc. (NYSE:WK) have received an average rating of “Buy” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have covered the stock in the last year is $122.14.

WK has been the subject of a number of analyst reports. BMO Capital Markets upped their price objective on shares of Workiva from $96.00 to $104.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Raymond James raised shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price target for the company in a research note on Friday, January 3rd. The Goldman Sachs Group lifted their price target on shares of Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Stifel Nicolaus upgraded Workiva from a “hold” rating to a “buy” rating and increased their price objective for the stock from $102.00 to $130.00 in a research report on Wednesday, December 18th. Finally, Citigroup raised their target price on Workiva from $116.00 to $128.00 and gave the stock a “buy” rating in a research note on Monday, December 16th.

Institutional Investors Weigh In On Workiva

Institutional investors and hedge funds have recently modified their holdings of the company. Twin Tree Management LP purchased a new position in Workiva in the 4th quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new stake in shares of Workiva in the third quarter valued at $28,000. EverSource Wealth Advisors LLC boosted its holdings in Workiva by 14,650.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker’s stock valued at $97,000 after purchasing an additional 879 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Workiva by 8.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock valued at $159,000 after purchasing an additional 116 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in Workiva during the 3rd quarter worth $168,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Workiva Stock Down 2.7 %

Shares of NYSE:WK opened at $94.20 on Wednesday. Workiva has a 52-week low of $65.47 and a 52-week high of $116.83. The stock has a market cap of $5.22 billion, a P/E ratio of -102.39 and a beta of 1.06. The business has a fifty day moving average of $106.07 and a two-hundred day moving average of $89.83.

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.