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Investing.com - Wolfe Research has raised its price target on Workiva (NYSE:WK) to $95.00 from $85.00 while maintaining an Outperform rating following the company’s Analyst Day at its annual Amplify user conference. The new target aligns with the broader analyst consensus, as InvestingPro data shows targets ranging from $85 to $105, with the stock currently trading at $75.69.
The firm noted that Workiva reiterated its topline targets for both FY27 and FY30, while updating its FY27 operating margin target to 18% from 16% previously, driven by improved sales and marketing efficiencies.
Workiva reported strong growth metrics, including Governance, Risk and Compliance (GRC) Annual Recurring Revenue (ARR) growth of 30% year-over-year, an 11 percentage point increase from Q2 2024, and Financial Reporting customers growing 23% year-over-year.
The company highlighted expansion opportunities within its existing customer base, where more than 65% still spend less than $100,000 annually, with management seeing potential to triple total Annual Contract Value (ACV) if existing customers adopt the full platform.
Workiva has adjusted its growth mix expectations to approximately 60% from existing customers and 40% from new customers, compared to its previous 50/50 target, with additional growth potential from customers upgrading to more advanced subscription tiers.
In other recent news, Workiva Inc reported impressive financial results for the second quarter of 2025, surpassing earnings expectations. The company achieved an earnings per share of $0.19, significantly higher than the anticipated $0.05, representing a 280% increase. Revenue also exceeded forecasts, reaching $215 million compared to the expected $208.86 million. Despite these strong results, Workiva’s stock experienced a decline during regular trading hours. Additionally, Truist Securities reiterated its Buy rating on Workiva, maintaining a price target of $95. This reaffirmation followed the company’s 2025 Amplify customer conference, which bolstered Truist’s confidence in Workiva’s subscription revenue growth potential. The conference drew over 2,300 professionals, highlighting strong interest in the company’s offerings. These developments underscore recent positive momentum and analyst support for Workiva.
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