Workiva (NYSE:WK) Price Target Cut to $100.00

Workiva (NYSE:WKGet Rating) had its price objective cut by investment analysts at Robert W. Baird from $120.00 to $100.00 in a research note issued on Tuesday, The Fly reports. The firm currently has an “outperform” rating on the software maker’s stock. Robert W. Baird’s price objective indicates a potential upside of 47.45% from the company’s previous close.

WK has been the subject of a number of other reports. BMO Capital Markets decreased their price objective on shares of Workiva from $127.00 to $109.00 in a research report on Wednesday, May 4th. Stifel Nicolaus cut shares of Workiva from a “buy” rating to a “hold” rating and decreased their price objective for the company from $120.00 to $80.00 in a research report on Wednesday, May 4th. Finally, StockNews.com began coverage on shares of Workiva in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $114.80.

Shares of Workiva stock opened at $67.82 on Tuesday. The company has a fifty day moving average price of $75.52 and a 200 day moving average price of $100.74. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 14.06. Workiva has a twelve month low of $60.12 and a twelve month high of $173.24. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of -71.39 and a beta of 1.54.

Workiva (NYSE:WKGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The software maker reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.08. Workiva had a negative net margin of 10.43% and a negative return on equity of 67.49%. The firm had revenue of $129.60 million during the quarter, compared to analysts’ expectations of $127.42 million. During the same period in the prior year, the company earned ($0.09) EPS. The firm’s revenue was up 24.4% on a year-over-year basis. Analysts forecast that Workiva will post -1.97 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Workiva by 3.6% during the first quarter. Vanguard Group Inc. now owns 4,316,544 shares of the software maker’s stock worth $509,353,000 after purchasing an additional 149,693 shares during the last quarter. Riverbridge Partners LLC lifted its position in shares of Workiva by 23.9% during the first quarter. Riverbridge Partners LLC now owns 1,876,827 shares of the software maker’s stock worth $221,466,000 after purchasing an additional 362,293 shares during the last quarter. Brown Advisory Inc. lifted its position in shares of Workiva by 2.6% during the first quarter. Brown Advisory Inc. now owns 1,773,316 shares of the software maker’s stock worth $209,516,000 after purchasing an additional 44,684 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of Workiva by 28.9% during the fourth quarter. William Blair Investment Management LLC now owns 1,467,050 shares of the software maker’s stock worth $191,435,000 after purchasing an additional 328,993 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Workiva by 5.5% during the fourth quarter. Invesco Ltd. now owns 1,340,710 shares of the software maker’s stock worth $174,950,000 after purchasing an additional 69,927 shares during the last quarter. 85.21% of the stock is currently owned by institutional investors and hedge funds.

Workiva Company Profile (Get Rating)

Workiva Inc, together with its subsidiaries, provides cloud-based compliance and regulatory reporting solutions worldwide. The company offers Workiva platform that offers controlled collaboration, data linking, data integrations, granular permissions, process management, and full audit trail services; and provides tools that enables customers to connect data from enterprise resource planning, governance risk and compliance, human capital management, and customer relationship management systems, as well as from other third-party cloud and on-premise applications.

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