Workiva (WK): The Overlooked Growth Stock Down 55% That’s Primed for a Comeback

In a market where fear often outweighs fundamentals, one stock—Workiva (NYSE: WK)—has been unfairly punished, dropping 55% from its 2021 peak despite boasting strong growth metrics and analyst enthusiasm. This is the perfect time to buy the dip.

Why Workiva Deserves a Second Look

Workiva’s core business is enterprise software for regulatory reporting, data management, and compliance—a sector that’s only growing as companies face increasing scrutiny from regulators and investors. Here’s why Wall Street is buzzing:

1. Analyst Love: 13 Buys, Zero Sells

Every analyst covering Workiva (13 in total) has given it the highest “buy” rating. The average price target is $102, implying a 54% upside from current levels, with one analyst even calling for a 70% gain to $112 over the next 12–18 months.

2. Cheap Valuation, Big Addressable Market

Workiva trades at a price-to-sales (P/S) ratio of 4.9, nearly half its five-year average of 9.6. Meanwhile, its addressable market is $35 billion, and Workiva’s annual revenue of $206 million represents just a fraction of that opportunity.

3. Growth in High-Spending Clients

While total customer growth is modest, Workiva’s high-spending cohorts (customers with annual contracts of $100K to $500K) are expanding rapidly. These clients account for the bulk of revenue and are far less volatile than smaller accounts.

4. Strong Cash Position

With $767 million in cash and equivalents, Workiva has the financial flexibility to invest in growth initiatives, even as it temporarily sacrifices near-term profits for long-term gains.

The Risks to Consider

No stock is without risks. Workiva’s net revenue retention dipped slightly to 110% (from 111% year-over-year), signaling slower spending from existing customers. Additionally, management’s cautious Q2 guidance—which includes widening GAAP losses—could spook short-term traders.

Why Now Is the Time to Buy

Workiva’s valuation is a screaming buy signal. At current levels, the stock is priced for failure, not growth. Analysts are betting on Workiva’s ability to capitalize on its $35 billion addressable market, particularly in regulated industries like finance and healthcare.

The Bottom Line: A 54–70% Upside With Strong Catalysts

Workiva’s 55% decline has created a rare opportunity to buy a $3.7 billion company with $767 million in cash, a $35 billion market to conquer, and unanimous analyst support. The risks are real, but the rewards—backed by hard data—are even greater.

This is a stock that’s been left for dead but has all the ingredients for a comeback: a moat-defining product, a large and underserved market, and a management team willing to reinvest in growth. Wall Street’s analysts are already on board—why aren’t you?

Final Call: Buy Workiva (WK) now. The math doesn’t lie.