BMO Capital Markets Forecasts Strong Price Appreciation for Workiva (NYSE:WK) Stock

Workiva (NYSE:WK) had its target price lifted by investment analysts at BMO Capital Markets from $100.00 to $103.00 in a research note issued on Thursday, Marketbeat reports. The firm currently has an “outperform” rating on the software maker’s stock. BMO Capital Markets’ price objective indicates a potential upside of 15.65% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. Citigroup increased their target price on shares of Workiva from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, September 11th. Raymond James Financial dropped their price target on shares of Workiva from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, August 1st. Stifel Nicolaus upped their price objective on Workiva from $85.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Capital One Financial set a $100.00 price objective on Workiva in a research note on Tuesday, September 30th. Finally, Wall Street Zen upgraded Workiva from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $101.91.

Workiva Price Performance

Shares of Workiva stock opened at $89.06 on Thursday. 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 business has a 50-day moving average of $84.35 and a 200 day moving average of $75.29. Workiva has a 12 month low of $60.50 and a 12 month high of $116.83.

Workiva (NYSE:WK) last issued its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.17. The business had revenue of $224.17 million for the quarter, compared to analysts’ expectations of $218.96 million. During the same quarter last year, the company earned $0.21 earnings per share. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. Workiva has set its FY 2025 guidance at 1.650-1.68 EPS. Q4 2025 guidance at 0.670-0.700 EPS. Equities research analysts anticipate that Workiva will post -0.92 earnings per share for the current year.

Hedge Funds Weigh In On Workiva

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of Workiva by 287.8% in the 3rd quarter. GAMMA Investing LLC now owns 287 shares of the software maker’s stock worth $25,000 after acquiring an additional 213 shares in the last quarter. SVB Wealth LLC bought a new stake in shares of Workiva during the 1st quarter valued at about $26,000. Bayforest Capital Ltd acquired a new stake in Workiva during the first quarter worth about $39,000. Harbour Investments Inc. acquired a new position in Workiva in the first quarter valued at approximately $39,000. Finally, TD Waterhouse Canada Inc. bought a new position in shares of Workiva during the second quarter valued at approximately $51,000. 92.21% of the stock is currently 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.