Workiva (NYSE:WK) Given New $110.00 Price Target at Truist Financial

Workiva (NYSE:WK) had its price target upped by Truist Financial from $95.00 to $110.00 in a research note published on Friday,Benzinga reports. They currently have a buy rating on the software maker’s stock.

Several other equities research analysts also recently issued reports on WK. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Workiva in a report on Wednesday, October 8th. Stifel Nicolaus set a $98.00 price objective on shares of Workiva in a research report on Thursday. Capital One Financial set a $100.00 target price on shares of Workiva in a report on Tuesday, September 30th. Raymond James Financial decreased their price target on shares of Workiva from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Workiva from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $101.91.

Workiva Stock Performance

NYSE:WK traded up $2.15 during mid-day trading on Friday, hitting $89.06. The stock had a trading volume of 894,933 shares, compared to its average volume of 807,726. Workiva has a twelve month low of $60.50 and a twelve month high of $116.83. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of -106.03 and a beta of 0.87. The company’s 50 day simple moving average is $84.35 and its 200 day simple moving average is $75.29.

Workiva (NYSE:WK) last announced its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.17. The business had revenue of $224.17 million for the quarter, compared to analyst estimates of $218.96 million. During the same period last year, the firm earned $0.21 EPS. Workiva’s quarterly revenue was up 20.8% compared to the same quarter last year. Workiva has set its FY 2025 guidance at 1.650-1.68 EPS. Q4 2025 guidance at 0.670-0.700 EPS. As a group, equities analysts forecast that Workiva will post -0.92 earnings per share for the current year.

Hedge Funds Weigh In On Workiva

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WK. Wealth Alliance LLC raised its stake in Workiva by 4.7% in the third quarter. Wealth Alliance LLC now owns 3,268 shares of the software maker’s stock valued at $281,000 after purchasing an additional 146 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Workiva by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 14,586 shares of the software maker’s stock worth $1,256,000 after acquiring an additional 195 shares in the last quarter. State of Wyoming increased its stake in Workiva by 15.4% in the third quarter. State of Wyoming now owns 1,553 shares of the software maker’s stock valued at $134,000 after acquiring an additional 207 shares during the last quarter. GAMMA Investing LLC raised its position in Workiva by 287.8% during the third quarter. GAMMA Investing LLC now owns 287 shares of the software maker’s stock valued at $25,000 after purchasing an additional 213 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in Workiva by 8.7% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 2,825 shares of the software maker’s stock worth $214,000 after purchasing an additional 225 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

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.