Stifel Nicolaus Issues Pessimistic Forecast for Workiva (NYSE:WK) Stock Price

Workiva (NYSE:WK) had its target price dropped by equities research analysts at Stifel Nicolaus from $130.00 to $120.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Stifel Nicolaus’ price target indicates a potential upside of 36.56% from the stock’s current price.

WK has been the subject of a number of other research reports. Raymond James upgraded shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 target price for the company in a research note on Friday, January 3rd. BMO Capital Markets raised their price target on Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Citigroup boosted their price objective on Workiva from $116.00 to $128.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Robert W. Baird increased their price objective on Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, The Goldman Sachs Group lifted their target price on shares of Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $121.57.

Workiva Price Performance

WK stock opened at $87.87 on Wednesday. The business’s 50-day moving average is $101.95 and its two-hundred day moving average is $90.83. The firm has a market capitalization of $4.87 billion, a P/E ratio of -95.51 and a beta of 1.06. Workiva has a 1 year low of $65.47 and a 1 year high of $116.83.

Hedge Funds Weigh In On Workiva

Several institutional investors have recently added to or reduced their stakes in WK. Creative Planning boosted its position in shares of Workiva by 73.5% in the third quarter. Creative Planning now owns 11,929 shares of the software maker’s stock worth $944,000 after acquiring an additional 5,053 shares during the last quarter. International Assets Investment Management LLC raised its stake in Workiva by 6,373.4% during the third quarter. International Assets Investment Management LLC now owns 9,257 shares of the software maker’s stock worth $732,000 after purchasing an additional 9,114 shares during the period. US Bancorp DE boosted its holdings in shares of Workiva by 58.3% in the 3rd quarter. US Bancorp DE now owns 23,431 shares of the software maker’s stock valued at $1,854,000 after purchasing an additional 8,632 shares during the last quarter. Impax Asset Management Group plc increased its holdings in shares of Workiva by 16.5% during the 3rd quarter. Impax Asset Management Group plc now owns 158,586 shares of the software maker’s stock worth $12,547,000 after buying an additional 22,500 shares during the last quarter. Finally, TimesSquare Capital Management LLC boosted its holdings in Workiva by 4.3% in the third quarter. TimesSquare Capital Management LLC now owns 467,769 shares of the software maker’s stock valued at $37,010,000 after acquiring an additional 19,095 shares during the last quarter. 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.