Citigroup Adjusts Workiva Price Target to $105.00 USD with "Buy" Rating

Citigroup has maintained a "Buy" rating for Workiva (WK) but lowered its price target from $108.00 to $105.00 USD, a -2.78% adjustment. The average one-year price target for WK is $100.58, with a high estimate of $127.43 and a low estimate of $90.00. The average target implies a 49.99% upside from the current price of $67.06.

Title: Analysts Mixed on Workiva (WK) Price Targets; Citi Lowering Estimate

A recent update from Citi has seen the price target for Workiva (WK) reduced from $108 to $105, while maintaining a Buy rating. This adjustment reflects a more cautious outlook on the company's future performance, despite a positive earnings forecast for the second quarter. The new price target implies a 48.99% upside from the current price of $67.51, indicating analysts' expectations for modest growth.

Analysts from various firms have provided a range of price targets for Workiva, with an average target of $97.67 [1]. The high estimate stands at $127.43, while the low estimate is $90.00, indicating a significant variance in expectations. Despite this range, the majority of analysts maintain a positive outlook, with 16 out of 17 ratings in the current month being Buy [2].

Workiva has shown strong revenue growth and customer retention, but significant financial risks, including net losses and negative equity, have weighed down its overall stock score [1]. The company's strategic successes have not been enough to overcome these financial challenges, leading to cautious market sentiment.

In the past 12 months, Workiva has performed in line with its overall industry, beating earnings estimates 0.00% of the time and sales estimates 0.00% of the time [1]. The next quarter’s earnings estimate for Workiva is $0.05, with a range of $0.05 to $0.07, and the sales forecast is $208.87M, with a range of $208.00M to $209.10M [1].

The mixed analyst opinions and the reduction in the price target by Citi highlight the uncertainty surrounding Workiva's future performance. Investors should closely monitor the company's financial health and earnings reports to make informed decisions.

References:
[1] https://www.tipranks.com/stocks/wk/forecast
[2] https://www.tipranks.com/stocks/wk/forecast