Citigroup Raises Workiva (NYSE:WK) Price Target to $130.00

Workiva (NYSE:WK) had its target price lifted by investment analysts at Citigroup from $128.00 to $130.00 in a research report issued to clients and investors 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 48.07% from the stock’s current price.

Several other analysts also recently commented on the company. The Goldman Sachs Group upped their price objective on Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Raymond James upgraded Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price target for the company in a research note on Friday, January 3rd. BMO Capital Markets decreased their price target on Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a report on Wednesday. Robert W. Baird boosted their price objective on shares of Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Stifel Nicolaus reduced their target price on shares of Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $121.57.

Workiva Price Performance

Shares of NYSE:WK traded up $4.31 on Wednesday, reaching $87.80. The company’s stock had a trading volume of 224,173 shares, compared to its average volume of 646,511. Workiva has a 52-week low of $65.47 and a 52-week high of $116.83. The stock has a market capitalization of $4.86 billion, a P/E ratio of -95.54 and a beta of 1.06. The stock’s 50-day moving average is $102.83 and its two-hundred day moving average is $90.86.

Hedge Funds Weigh In On Workiva

Institutional investors and hedge funds have recently made changes to their positions in the stock. Versor Investments LP purchased a new stake in Workiva during the third quarter worth about $1,217,000. SG Americas Securities LLC lifted its position in shares of Workiva by 141.6% during the 4th quarter. SG Americas Securities LLC now owns 9,341 shares of the software maker’s stock valued at $1,023,000 after acquiring an additional 5,475 shares during the period. TimesSquare Capital Management LLC boosted its stake in shares of Workiva by 4.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 467,769 shares of the software maker’s stock worth $37,010,000 after acquiring an additional 19,095 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of Workiva by 138.8% in the 3rd quarter. Mutual of America Capital Management LLC now owns 54,059 shares of the software maker’s stock worth $4,277,000 after acquiring an additional 31,421 shares during the period. Finally, Nordea Investment Management AB acquired a new stake in shares of Workiva in the 4th quarter worth approximately $59,894,000. 92.21% of the stock is owned by institutional investors and hedge funds.

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.