Stifel Nicolaus Cuts Workiva (NYSE:WK) Price Target to $120.00

Workiva (NYSE:WK) had its target price lowered by equities research analysts at Stifel Nicolaus from $130.00 to $120.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Stifel Nicolaus’ target price points to a potential upside of 33.96% from the stock’s current price.

A number of other analysts have also weighed in on WK. Robert W. Baird upped their price target on shares of Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Raymond James upgraded Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price objective for the company in a report on Friday, January 3rd. Citigroup boosted their price target on shares of Workiva from $116.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. BMO Capital Markets boosted their target price on shares of Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group lifted their price target on shares of Workiva from $120.00 to $133.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Workiva presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.71.

Workiva Stock Performance

NYSE:WK opened at $89.58 on Wednesday. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of -96.45 and a beta of 1.06. Workiva has a 1 year low of $65.47 and a 1 year high of $116.83. The business has a fifty day moving average of $102.83 and a 200-day moving average of $90.86.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Polar Asset Management Partners Inc. acquired a new stake in Workiva in the 4th quarter worth approximately $5,825,000. GTS Securities LLC acquired a new position in Workiva during the 4th quarter worth $212,000. Castleark Management LLC bought a new stake in Workiva during the 4th quarter valued at approximately $6,800,000. Vident Advisory LLC acquired a new position in shares of Workiva during the fourth quarter worth approximately $240,000. Finally, Two Sigma Advisers LP boosted its position in shares of Workiva by 155.8% in the fourth quarter. Two Sigma Advisers LP now owns 42,200 shares of the software maker’s stock valued at $4,621,000 after acquiring an additional 25,700 shares during the period. 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.