Berenberg Bank Adjusts Workiva’s Price Target to $100, Maintains Buy Rating
May 4, 2023
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Berenberg Bank recently adjusted its price target for shares of WORKIVA INC ($NYSE:WK), a company specializing in cloud-based software that enables the automation of business processes. The bank has maintained its Buy rating for the stock, yet reduced the target price from $102 to $100. This adjustment came after the company released its second-quarter report, which showed slower-than-expected revenue growth. Despite the reduced price target, Berenberg Bank still has a strong outlook for WORKIVA INC.
Analysts noted that the company had a respectable performance in the first half of the year and is well-positioned to continue to capitalize on digital transformation trends. Although they said that the second quarter had some hiccups, they believe the long-term prospects remain positive. With a Buy rating, Berenberg Bank is recommending investors to remain confident in the potential of WORKIVA INC’s stock and to focus on the long-term potential of the company.
Share Price
On Wednesday, WORKIVA INC stock opened at $87.0 and closed at $87.5, down by 3.9% from its prior closing price of 91.0. This was a significant announcement for the company, as investors may now be more willing to invest in the company given the approval from Berenberg Bank. The company’s share price has not been significantly affected yet, but would likely see a positive effect in the long run. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Workiva Inc. More…
| Total Revenues | Net Income | Net Margin |
| 537.88 | -90.95 | -16.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Workiva Inc. More…
| Operations | Investing | Financing |
| 11.33 | -68.01 | -1.59 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Workiva Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 819.62 | 813.64 | 0.11 |
Key Ratios Snapshot
Some of the financial key ratios for Workiva Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 21.8% | – | -15.4% |
| FCF Margin | ROE | ROA |
| 1.4% | -21034.0% | -6.3% |
Analysis
GoodWhale has conducted an analysis of WORKIVA INC‘s financials and classified it as a ‘cheetah’ type of company. This type of company is one that has achieved high revenue or earnings growth, but is considered less stable due to lower profitability. This makes WORKIVA INC an attractive investment for those investors looking for high growth potential, but with some risk involved. WORKIVA INC has a high health score of 8/10 with regard to its cashflows and debt, indicating that it is capable of riding out any crisis without the risk of bankruptcy. Its strengths lie in growth, while it’s medium in assets and weak in dividend and profitability. Investors interested in WORKIVA INC should consider the added risk involved when investing in a cheetah type of company, but also recognize the potential growth opportunities it presents. More…
Peers
In the business world, there is always competition. Workiva Inc is no exception. Its main competitors are Tintri Inc, SentinelOne Inc, and 9 Spokes International Ltd. All of these companies are vying for the same thing: market share. Workiva Inc has to be constantly innovating and marketing its products in order to stay ahead of the competition.
– Tintri Inc ($OTCPK:TNTRQ)
Tintri Inc is a data storage company that provides software-defined storage solutions for virtualized and cloud environments. The company has a market cap of 675.02k and a ROE of 116.12%. Tintri’s products are designed to simplify storage management and enable customers to maximize the performance of their virtualized applications.
– SentinelOne Inc ($NYSE:S)
SentinelOne is a cybersecurity company that provides endpoint protection solutions. The company has a market cap of $6.36 billion and a return on equity of -12.5%. SentinelOne’s solutions are designed to protect organizations from malware, ransomware, and other cybersecurity threats. The company’s endpoint protection platform uses artificial intelligence and machine learning to detect and block threats in real time.
– 9 Spokes International Ltd ($ASX:9SP)
Spokes International Ltd is a publicly traded company with a market capitalization of 7.47 million as of 2022. The company has a negative return on equity of 72.86%. Spokes International Ltd is involved in the design, manufacture, and distribution of bicycles and bicycle parts and accessories. The company sells its products under the Spokes brand name. Spokes International Ltd is headquartered in Hong Kong.
Summary
Workiva Inc (WORK) is a cloud-based software company that provides software and services to the corporate market. The company’s stock price has recently dropped after Berenberg Bank cut Workiva’s price target from $102 to $100 and maintained a buy rating. Investors are likely concerned about the company’s overall prospects and whether or not the cut was justified. In evaluating the stock, investors should look at the company’s recent financial performance and prospects for growth, analyze competitive landscape and potential risks, and consider any catalysts that could affect the stock’s price movement.
Additionally, investors should research analyst opinions on the stock and examine any insider trading activity. Ultimately, it is up to investors to make their own decisions on whether or not to invest in Workiva Inc.
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