Workiva (NYSE:WK) PT lowered to $127.00 at BMO Capital Markets
Workiva (NYSE:WK- Get a rating) had its price target reduced by stock analysts at BMO Capital Markets from $135.00 to $127.00 in a research report released Wednesday, Briefing.com reports. The company currently has an “outperform” rating on the software maker’s stock. BMO Capital Markets’ price target points to a potential upside of 34.55% from the company’s previous close.
Other stock research analysts have also published research reports on the stock. Stifel Nicolaus lowered his price target on Workiva shares from $150.00 to $120.00 and placed a “buy” rating on the stock in a report released Wednesday. Citigroup assumed coverage for Workiva shares in a Tuesday, Feb. 1, report. They have set a “buy” rating and a price target of $135.00 on the stock. Robert W. Baird cut his price target on Workiva stock from $190.00 to $150.00 in a report released Wednesday. Ultimately, Zacks Investment Research downgraded Workiva shares from a “hold” to a “sell” rating in a Wednesday, January 19 research report. One equity research analyst rated the stock with a sell rating, another issued a hold rating and five assigned the company a buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $129.86.
WK stock traded at $8.20 during trading hours on Wednesday, hitting $94.39. The company’s stock had a trading volume of 31,193 shares, compared to an average volume of 381,989. The stock has a 50-day moving average price of $119.37 and a two-hundred-day moving average price of 134 $.54. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt ratio of 0.22. Workiva has a 12 month minimum of $80.00 and a 12 month maximum of $173.24. The company has a market capitalization of $4.80 billion, a PE ratio of -149.83 and a beta of 1.41.
Workiva (NYSE:WK- Get a rating) last released its quarterly earnings data on Monday, February 21. The software maker reported earnings per share of $0.03 for the quarter, beating the Zacks consensus estimate of $0.06 ($0.06) by $0.09. Workiva had a negative net margin of 7.55% and a negative return on equity of 31.90%. The company posted revenue of $120.78 million in the quarter, compared to $117.10 million expected by analysts. During the same period of the previous year, the company made ($0.11) earnings per share. Workiva’s revenue for the quarter increased 28.7% year over year. Sell-side analysts expect Workiva to post -0.6 earnings per share for the current year.
In other news, EVP Michael D. Hawkins sold 3,433 shares of the company in a transaction that took place on Wednesday, February 9. The shares were sold at an average price of $120.00, for a total transaction of $411,960.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. 12.25% of the shares are held by insiders of the company.
Large investors have recently increased or reduced their stakes in the stock. Commonwealth Equity Services LLC increased its shareholding in Workiva by 1.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 7,187 shares of the software maker worth $937,000 after buying 94 more shares last quarter. Voya Investment Management LLC increased its holding in Workiva stock by 0.7% during the third quarter. Voya Investment Management LLC now owns 16,387 shares of the software maker worth $2,310,000 after buying 108 more shares last quarter. Signaturefd LLC increased its stake in Workiva by 49.2% in the fourth quarter. Signaturefd LLC now owns 370 shares of the software maker valued at $48,000 after buying an additional 122 shares in the last quarter. Dark Forest Capital Management LP increased its stake in Workiva by 25.7% in the third quarter. Dark Forest Capital Management LP now owns 753 shares of the software maker valued at $106,000 after buying an additional 154 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in Workiva by 1.6% in the third quarter. Arizona State Retirement System now owns 10,348 shares of the software maker valued at $1,459,000 after buying 161 additional shares last quarter. 87.41% of the shares are held by institutional investors and hedge funds.
About Workiva (Get a rating)
Workiva, Inc is committed to delivering cloud-based compliance and regulatory reporting solutions that are designed to solve business challenges at the intersection of data, process and people. Its platform, Wdesk, offers controlled collaboration, data binding, data integrations, granular permissions, process management, and a full audit trail.
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