Workiva (WK) PT Raised to $40.00 at Northland Securities

Workiva (NYSE:WK) had its price objective hoisted by equities researchers at Northland Securities from $30.00 to $40.00 in a research report issued on Monday, The Fly reports. The firm currently has an “outperform” rating on the software maker’s stock. Northland Securities’ target price would indicate a potential upside of 1.78% from the company’s previous close.

A number of other brokerages have also recently issued reports on WK. Morgan Stanley cut Workiva from an “equal weight” rating to an “underweight” rating and raised their target price for the stock from $20.00 to $28.00 in a report on Tuesday, September 18th. Stifel Nicolaus raised their target price on Workiva from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, September 21st. Finally, SunTrust Banks raised their target price on Workiva to $39.00 and gave the stock a “positive” rating in a report on Wednesday, August 29th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $33.71.

Workiva stock opened at $39.30 on Monday. The stock has a market capitalization of $1.59 billion, a P/E ratio of -36.73 and a beta of 0.85. Workiva has a 12-month low of $19.70 and a 12-month high of $40.65. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of -1.01.

Workiva (NYSE:WK) last posted its quarterly earnings results on Tuesday, August 7th. The software maker reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.12. The firm had revenue of $59.13 million during the quarter, compared to the consensus estimate of $56.08 million. equities analysts predict that Workiva will post -1.15 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Schwab Charles Investment Management Inc. raised its position in shares of Workiva by 5.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 119,680 shares of the software maker’s stock worth $2,837,000 after purchasing an additional 6,101 shares during the period. US Bancorp DE raised its position in shares of Workiva by 2,068.4% during the first quarter. US Bancorp DE now owns 13,162 shares of the software maker’s stock worth $312,000 after purchasing an additional 12,555 shares during the period. Envestnet Asset Management Inc. acquired a new stake in shares of Workiva during the first quarter worth about $312,000. Northern Trust Corp raised its position in shares of Workiva by 41.2% during the first quarter. Northern Trust Corp now owns 390,270 shares of the software maker’s stock worth $9,250,000 after purchasing an additional 113,822 shares during the period. Finally, BlackRock Inc. raised its position in shares of Workiva by 1.0% during the first quarter. BlackRock Inc. now owns 1,500,302 shares of the software maker’s stock worth $35,556,000 after purchasing an additional 15,455 shares during the period. Hedge funds and other institutional investors own 40.73% of the company’s stock.

Workiva Company Profile

Workiva Inc provides cloud solutions for the finance and accounting, audit and internal controls, risk and compliance, and performance and management reporting markets in the United States and internationally. The company provides Wdesk, a platform with proprietary word processing, spreadsheet, and presentation applications to collect, link, report, and analyze the business data, as well as to create, review, and publish data-linked documents and reports.

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