Workiva Inc. (WK) Price Target Raised to $19.00
Workiva Inc. (NYSE:WK) had its target price hoisted by equities research analysts at Morgan Stanley from $18.00 to $19.00 in a research note issued on Monday. The firm currently has an “equal weight” rating on the software maker’s stock. Morgan Stanley’s price objective suggests a potential downside of 14.61% from the company’s current price.
Several other research firms have also recently issued reports on WK. Stifel Nicolaus reissued a “buy” rating and issued a $21.00 target price on shares of Workiva in a research note on Friday, August 4th. SunTrust Banks, Inc. started coverage on Workiva in a research note on Monday, June 26th. They issued a “buy” rating and a $22.00 target price on the stock. BidaskClub cut Workiva from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Robert W. Baird raised their target price on Workiva from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, September 21st. Finally, Zacks Investment Research raised Workiva from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Thursday, October 5th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $21.71.
Shares of Workiva (NYSE:WK) traded down 0.337% during midday trading on Monday, reaching $22.175. The company had a trading volume of 37,168 shares. The company has a 50 day moving average of $20.93 and a 200 day moving average of $19.13. Workiva has a one year low of $12.15 and a one year high of $22.70. The company’s market capitalization is $927.49 million.
Workiva (NYSE:WK) last announced its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.25) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.06. Workiva had a negative return on equity of 13,251.94% and a negative net margin of 18.94%. The firm had revenue of $49.40 million for the quarter, compared to analysts’ expectations of $48.37 million. During the same period last year, the firm earned ($0.20) earnings per share. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. Analysts predict that Workiva will post ($0.63) EPS for the current fiscal year.
In related news, major shareholder Jerome M. Behar sold 1,839 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $20.00, for a total value of $36,780.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Jerome M. Behar sold 46,387 shares of Workiva stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $20.00, for a total transaction of $927,740.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 360,898 shares of company stock valued at $7,342,819. 33.29% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. Advisor Group Inc. grew its position in Workiva by 62.9% in the 3rd quarter. Advisor Group Inc. now owns 5,700 shares of the software maker’s stock worth $103,000 after purchasing an additional 2,200 shares during the period. ETF Managers Group LLC bought a new stake in Workiva in the 2nd quarter worth approximately $118,000. Legal & General Group Plc grew its position in Workiva by 9.3% in the 2nd quarter. Legal & General Group Plc now owns 6,999 shares of the software maker’s stock worth $134,000 after purchasing an additional 597 shares during the period. Bank of Montreal Can bought a new stake in Workiva in the 2nd quarter worth approximately $162,000. Finally, Federated Investors Inc. PA grew its position in Workiva by 89.8% in the 4th quarter. Federated Investors Inc. PA now owns 9,348 shares of the software maker’s stock worth $128,000 after purchasing an additional 4,422 shares during the period. 32.18% of the stock is owned by institutional investors and hedge funds.
Workiva Inc provides enterprises with cloud solutions for improving productivity, accountability and insight into business data. The Company created Wdesk, a collaborative work management platform for organizations to collect, link, report and analyze their business data. Wdesk’s word processing, spreadsheet and presentation applications are integrated and built upon a data management engine, offering synchronized data, controlled collaboration, granular permissions and a full audit trail.
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