Citigroup Forecasts Strong Price Appreciation for Workiva (NYSE:WK) Stock

Workiva (NYSE:WK) had its price objective upped by equities research analysts at Citigroup from $128.00 to $130.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Citigroup’s price objective would indicate a potential upside of 47.94% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Stifel Nicolaus dropped their target price on Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday. Robert W. Baird lifted their price target on Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. BMO Capital Markets cut their price objective on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a research report on Wednesday. Raymond James raised shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 target price for the company in a report on Friday, January 3rd. Finally, The Goldman Sachs Group upped their target price on shares of Workiva from $120.00 to $133.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Workiva has a consensus rating of “Moderate Buy” and a consensus price target of $121.57.

Workiva Stock Performance

Shares of NYSE WK opened at $87.87 on Wednesday. The company has a 50 day simple moving average of $101.95 and a two-hundred day simple moving average of $90.83. Workiva has a fifty-two week low of $65.47 and a fifty-two week high of $116.83. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of -95.51 and a beta of 1.06.

Institutional Trading of Workiva

Several large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC raised its stake in Workiva by 8.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock valued at $159,000 after purchasing an additional 116 shares during the period. World Investment Advisors grew its holdings in Workiva by 2.7% during the 4th quarter. World Investment Advisors now owns 5,135 shares of the software maker’s stock valued at $562,000 after buying an additional 135 shares in the last quarter. Park Avenue Securities LLC raised its position in shares of Workiva by 4.5% during the fourth quarter. Park Avenue Securities LLC now owns 4,561 shares of the software maker’s stock valued at $499,000 after buying an additional 198 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Workiva by 1.6% in the fourth quarter. Arizona State Retirement System now owns 14,170 shares of the software maker’s stock worth $1,552,000 after buying an additional 224 shares in the last quarter. Finally, Twin Tree Management LP bought a new position in shares of Workiva during the fourth quarter worth $25,000. 92.21% of the stock is currently owned by institutional investors.

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.