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 research firms that are currently covering the firm, MarketBeat reports. Eight analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have covered the stock in the last year is $122.14.

Several research firms recently issued reports on WK. The Goldman Sachs Group increased 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. Citigroup raised their target price on Workiva from $116.00 to $128.00 and gave the company a “buy” rating in a report on Monday, December 16th. Raymond James raised Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price target for the company in a report on Friday, January 3rd. Robert W. Baird raised their price objective on Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, BMO Capital Markets boosted their target price on Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th.

Workiva Stock Down 1.3 %

Shares of Workiva stock opened at $98.84 on Wednesday. The firm’s 50-day moving average price is $106.18 and its two-hundred day moving average price is $89.54. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of -107.43 and a beta of 1.06. Workiva has a 12-month low of $65.47 and a 12-month high of $116.83.

Institutional Trading of Workiva

A number of hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in shares of Workiva in the third quarter worth $28,000. Nisa Investment Advisors LLC lifted its holdings in Workiva by 8.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock worth $159,000 after buying an additional 116 shares during the period. Truist Financial Corp bought a new stake in shares of Workiva in the 4th quarter valued at about $211,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of Workiva in the fourth quarter valued at about $219,000. Finally, Abacus Planning Group Inc. bought a new position in shares of Workiva during the fourth quarter worth about $222,000. 92.21% of the stock is 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.