Workiva (WK) Price Target Raised to $42.00

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Workiva (NYSE:WK) had its target price upped by Stifel Nicolaus from $35.00 to $42.00 in a research note released on Friday, September 21st. Stifel Nicolaus currently has a buy rating on the software maker’s stock.

WK has been the topic of a number of other reports. Morgan Stanley downgraded shares of Workiva from an equal weight rating to an underweight rating and lifted their target price for the stock from $20.00 to $28.00 in a research note on Tuesday, September 18th. SunTrust Banks lifted their target price on shares of Workiva to $39.00 and gave the stock a positive rating in a research note on Wednesday, August 29th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $36.50.

WK stock traded up $0.59 during trading on Friday, reaching $34.43. 147,856 shares of the stock were exchanged, compared to its average volume of 218,337. The company has a debt-to-equity ratio of -1.01, a current ratio of 0.86 and a quick ratio of 0.86. Workiva has a 1 year low of $20.50 and a 1 year high of $40.65. The company has a market capitalization of $1.71 billion, a PE ratio of -32.18 and a beta of 0.87.

Workiva (NYSE:WK) last issued its earnings results on Tuesday, August 7th. The software maker reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.12. The firm had revenue of $59.13 million for the quarter, compared to analysts’ expectations of $56.08 million. Sell-side analysts forecast that Workiva will post -1.15 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. acquired a new stake in shares of Workiva during the first quarter valued at about $113,000. SG Americas Securities LLC acquired a new stake in shares of Workiva during the second quarter valued at about $127,000. Russell Investments Group Ltd. increased its position in shares of Workiva by 114.3% during the first quarter. Russell Investments Group Ltd. now owns 7,500 shares of the software maker’s stock valued at $178,000 after acquiring an additional 4,000 shares during the last quarter. Commonwealth Equity Services LLC acquired a new stake in shares of Workiva during the first quarter valued at about $200,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Workiva during the second quarter valued at about $229,000. Institutional investors and hedge funds own 40.73% of the company’s stock.

Workiva Company Profile

Workiva Inc provides cloud solutions for the finance and accounting, audit and internal controls, risk and compliance, and performance and management reporting markets in the United States and internationally. The company provides Wdesk, a platform with proprietary word processing, spreadsheet, and presentation applications to collect, link, report, and analyze the business data, as well as to create, review, and publish data-linked documents and reports.

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