Workiva (NYSE:WK) Shares Gap Up to $80.04

Workiva Inc. (NYSE:WK)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $80.04, but opened at $87.55. Workiva shares last traded at $83.09, with a volume of 177,033 shares.

Analysts Set New Price Targets

WK has been the topic of a number of research reports. BMO Capital Markets decreased their price objective on Workiva from $123.00 to $113.00 and set an “outperform” rating on the stock in a report on Wednesday, February 21st. Citigroup decreased their price target on shares of Workiva from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Tuesday, April 23rd. Finally, Stifel Nicolaus lowered their price target on shares of Workiva from $92.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Workiva currently has a consensus rating of “Moderate Buy” and an average price target of $111.86.

Workiva Trading Up 2.0 %

The stock has a market capitalization of $4.47 billion, a P/E ratio of -47.49 and a beta of 1.04. The business has a 50-day moving average price of $82.33 and a two-hundred day moving average price of $90.59.

Workiva (NYSE:WK) last posted its quarterly earnings results on Tuesday, February 20th. The software maker reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. The company had revenue of $166.65 million during the quarter, compared to analyst estimates of $164.44 million. On average, sell-side analysts forecast that Workiva Inc. will post -0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WK. RIA Advisory Group LLC bought a new position in Workiva in the first quarter valued at about $404,000. RiverPark Advisors LLC boosted its stake in shares of Workiva by 361.5% in the 1st quarter. RiverPark Advisors LLC now owns 1,140 shares of the software maker’s stock valued at $97,000 after purchasing an additional 893 shares in the last quarter. FORA Capital LLC grew its holdings in shares of Workiva by 17.1% during the 1st quarter. FORA Capital LLC now owns 5,478 shares of the software maker’s stock valued at $465,000 after purchasing an additional 801 shares during the last quarter. Hardy Reed LLC increased its position in Workiva by 6.7% during the 1st quarter. Hardy Reed LLC now owns 3,425 shares of the software maker’s stock worth $290,000 after purchasing an additional 215 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in Workiva in the 1st quarter valued at approximately $45,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.