Workiva Inc. (NYSE:WK) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Workiva Inc. (NYSE:WK) have been assigned an average rating of “Buy” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $117.40.

A number of research firms have issued reports on WK. Citigroup increased their target price on Workiva from $116.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Stifel Nicolaus raised Workiva from a “hold” rating to a “buy” rating and lifted their target price for the company from $102.00 to $130.00 in a research report on Wednesday. BMO Capital Markets boosted their target price on Workiva from $96.00 to $104.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird raised 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.

Workiva Stock Up 3.1 %

Shares of WK stock opened at $114.78 on Tuesday. Workiva has a 12-month low of $65.47 and a 12-month high of $116.83. The firm has a fifty day moving average of $92.52 and a 200-day moving average of $81.13. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of -124.76 and a beta of 1.09.

Institutional Investors Weigh In On Workiva

Hedge funds have recently bought and sold shares of the company. World Investment Advisors LLC acquired a new stake in Workiva during the 3rd quarter valued at $396,000. Sanctuary Advisors LLC acquired a new stake in shares of Workiva during the 3rd quarter worth about $168,000. Geode Capital Management LLC boosted its holdings in shares of Workiva by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,144,826 shares of the software maker’s stock worth $90,597,000 after buying an additional 35,029 shares during the period. Groupama Asset Managment acquired a new position in Workiva in the 3rd quarter valued at about $381,000. Finally, Main Management ETF Advisors LLC bought a new position in Workiva in the 3rd quarter valued at about $921,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.