Stifel Nicolaus Issues Pessimistic Forecast for Workiva (NYSE:WK) Stock Price

Workiva (NYSE:WK) had its price target dropped by Stifel Nicolaus from $120.00 to $100.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Stifel Nicolaus’ price target indicates a potential upside of 48.57% from the stock’s current price.

A number of other research analysts have also issued reports on the stock. BMO Capital Markets cut their price target on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. The Goldman Sachs Group cut their target price on Workiva from $118.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Citigroup lifted their price target on Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Raymond James upgraded Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price objective for the company in a research note on Friday, January 3rd. Finally, Truist Financial dropped their target price on Workiva from $120.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.90.

Workiva Trading Down 9.5 %

Shares of WK opened at $67.31 on Friday. Workiva has a 12 month low of $60.50 and a 12 month high of $116.83. The stock has a fifty day moving average price of $77.42 and a 200-day moving average price of $90.69. The firm has a market cap of $3.78 billion, a PE ratio of -73.16 and a beta of 0.98.

Workiva (NYSE:WK) last issued its quarterly earnings results on Thursday, May 1st. The software maker reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.07. The business had revenue of $206.28 million during the quarter, compared to analyst estimates of $204.24 million. During the same period in the prior year, the business posted $0.22 EPS. Workiva’s revenue was up 17.4% compared to the same quarter last year. As a group, research analysts forecast that Workiva will post -0.92 EPS for the current year.

Insider Buying and Selling at Workiva

In other news, CAO Brandon Ziegler sold 4,115 shares of Workiva stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $85.72, for a total transaction of $352,737.80. Following the completion of the transaction, the chief accounting officer now directly owns 103,509 shares of the company’s stock, valued at $8,872,791.48. The trade was a 3.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert H. Herz sold 1,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $88.70, for a total transaction of $88,700.00. Following the sale, the director now directly owns 34,084 shares in the company, valued at $3,023,250.80. This trade represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,129 shares of company stock valued at $1,807,333. 3.86% of the stock is owned by company insiders.

Institutional Investors Weigh In On Workiva

A number of institutional investors have recently modified their holdings of WK. Twin Tree Management LP purchased a new position in Workiva during the fourth quarter worth approximately $25,000. Farther Finance Advisors LLC raised its stake in shares of Workiva by 705.9% during the 1st quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker’s stock worth $31,000 after buying an additional 360 shares during the period. Bessemer Group Inc. lifted its position in shares of Workiva by 109.2% during the 1st quarter. Bessemer Group Inc. now owns 567 shares of the software maker’s stock valued at $43,000 after buying an additional 296 shares in the last quarter. Global Wealth Strategies & Associates acquired a new stake in Workiva in the 1st quarter valued at $53,000. Finally, Johnson Financial Group Inc. purchased a new stake in Workiva in the 4th quarter worth $66,000. 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.