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

Workiva (NYSE:WK) had its target price boosted by equities research analysts at Truist Financial from $95.00 to $110.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Truist Financial’s price target would indicate a potential upside of 23.51% from the company’s previous close.

A number of other equities research analysts have also recently commented on WK. The Goldman Sachs Group reiterated a “buy” rating and set a $110.00 target price on shares of Workiva in a report on Thursday. Citigroup increased their price objective on Workiva from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, September 11th. Wolfe Research boosted their target price on shares of Workiva from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, September 10th. Capital One Financial set a $100.00 target price on shares of Workiva in a report on Tuesday, September 30th. Finally, BMO Capital Markets lifted their price target on shares of Workiva from $100.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Workiva has a consensus rating of “Moderate Buy” and an average target price of $101.91.

Workiva Price Performance

Workiva stock traded up $2.15 during trading hours on Friday, hitting $89.06. The stock had a trading volume of 894,933 shares, compared to its average volume of 723,815. Workiva has a 1-year low of $60.50 and a 1-year high of $116.83. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of -106.03 and a beta of 0.87. The stock’s fifty day moving average is $84.21 and its two-hundred day moving average is $75.13.

Workiva (NYSE:WK) last released its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.17. The firm 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. The company’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, sell-side analysts anticipate that Workiva will post -0.92 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Eminence Capital LP boosted its holdings in Workiva by 209.6% in the second quarter. Eminence Capital LP now owns 2,646,768 shares of the software maker’s stock valued at $181,171,000 after acquiring an additional 1,791,768 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Workiva in the 2nd quarter valued at $88,677,000. Alliancebernstein L.P. raised its position in Workiva by 1,177.5% in the first quarter. Alliancebernstein L.P. now owns 780,130 shares of the software maker’s stock valued at $59,220,000 after purchasing an additional 719,062 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Workiva by 32.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,834,723 shares of the software maker’s stock worth $215,184,000 after acquiring an additional 686,702 shares in the last quarter. Finally, Norges Bank purchased a new position in Workiva in the 2nd quarter worth approximately $40,230,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

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.