Truist Financial Increases Workiva (NYSE:WK) Price Target to $110.00

Workiva (NYSE:WK) had its price target increased by stock analysts at Truist Financial from $95.00 to $110.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Truist Financial’s price objective points to a potential upside of 23.51% from the stock’s previous close.

Several other equities analysts have also recently commented on WK. Raymond James Financial reduced their target price on Workiva from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, August 1st. Wall Street Zen upgraded shares of Workiva from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. The Goldman Sachs Group reissued a “buy” rating and set a $110.00 price objective on shares of Workiva in a report on Thursday. Wolfe Research upped 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. Finally, Capital One Financial set a $100.00 price target on shares of Workiva in a research report on Tuesday, September 30th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $101.91.

Workiva Stock Up 2.5%

Shares of Workiva stock traded up $2.15 during trading hours on Friday, hitting $89.06. 894,933 shares of the company’s stock traded hands, compared to its average volume of 723,815. Workiva has a twelve month low of $60.50 and a twelve month high of $116.83. The company has a market cap of $4.99 billion, a PE ratio of -106.03 and a beta of 0.87. The stock has a 50 day simple moving average of $84.21 and a 200-day simple moving average of $75.13.

Workiva (NYSE:WK) last released its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.55 EPS for the quarter, topping the consensus estimate of $0.38 by $0.17. The business had revenue of $224.17 million during the quarter, compared to analyst estimates of $218.96 million. During the same quarter last year, the firm posted $0.21 EPS. The company’s 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, equities research analysts predict that Workiva will post -0.92 EPS for the current year.

Institutional Investors Weigh In On Workiva

A number of institutional investors have recently modified their holdings of WK. Teacher Retirement System of Texas lifted its holdings in Workiva by 13.9% in the first quarter. Teacher Retirement System of Texas now owns 8,734 shares of the software maker’s stock worth $663,000 after acquiring an additional 1,066 shares during the last quarter. Xponance Inc. grew its holdings in shares of Workiva by 6.7% during the first quarter. Xponance Inc. now owns 3,850 shares of the software maker’s stock valued at $292,000 after purchasing an additional 241 shares during the last quarter. Mutual of America Capital Management LLC raised its position in shares of Workiva by 8.9% during the 1st quarter. Mutual of America Capital Management LLC now owns 77,284 shares of the software maker’s stock worth $5,867,000 after purchasing an additional 6,344 shares during the period. CWM LLC lifted its holdings in shares of Workiva by 27.4% in the 1st quarter. CWM LLC now owns 8,166 shares of the software maker’s stock worth $620,000 after purchasing an additional 1,754 shares during the last quarter. Finally, Legato Capital Management LLC boosted its position in Workiva by 144.2% during the 1st quarter. Legato Capital Management LLC now owns 5,041 shares of the software maker’s stock valued at $383,000 after purchasing an additional 2,977 shares during the period. Institutional investors own 92.21% of the company’s stock.

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.