Analysts Set Workiva Inc. (NYSE:WK) Target Price at $121.57

Workiva Inc. (NYSE:WK) has been assigned a consensus recommendation of “Buy” from the eight research firms that are covering the firm, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have covered the stock in the last year is $121.57.

Several equities analysts have recently commented on WK shares. Raymond James upgraded 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 report on Friday, January 3rd. BMO Capital Markets lowered their price target on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Stifel Nicolaus lowered their price target on shares of Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Citigroup upped their price objective on shares of Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Finally, Robert W. Baird upped their price objective on shares of Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, December 13th.

Institutional Investors Weigh In On Workiva

A number of institutional investors and hedge funds have recently bought and sold shares of WK. Norges Bank acquired a new stake in Workiva in the 4th quarter valued at about $59,676,000. Nordea Investment Management AB purchased a new stake in Workiva during the fourth quarter valued at about $59,894,000. Groupama Asset Managment purchased a new stake in Workiva during the third quarter valued at about $381,000. Arrowstreet Capital Limited Partnership purchased a new stake in Workiva during the fourth quarter valued at about $51,353,000. Finally, Point72 Asset Management L.P. purchased a new stake in Workiva during the fourth quarter valued at about $32,863,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Workiva Stock Performance

Workiva stock opened at $86.99 on Friday. The company has a 50-day simple moving average of $99.91 and a 200-day simple moving average of $91.22. The firm has a market capitalization of $4.82 billion, a P/E ratio of -94.55 and a beta of 1.09. Workiva has a one year low of $65.47 and a one year high of $116.83.

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.