Workiva Sell-Side Quiet Period Expires: Firms Come Out Bullish

The sell-side quiet period is over for Workiva Inc WK. Five major Wall Street research firms have issued positive ratings for the stock.

Stifel Nicolaus (Buy) and Morgan Stanley (Overweight) both set their price targets at $20

Stifel analyst Tom Roderick said in a report published Tuesday, “We believe the company offers a differentiated suite of business productivity solutions built on a competitively superior technology platform that has enabled the company to build a market-leading position with its SEC reporting product.”

Credit Suisse assumed coverage on Monday with an Outperform and an $18 price target. Other research firms recommending the stock are Raymond James and Robert W. Baird, both of which rate it Outperform, and respective price targets of $17.50 and $17.

The stock closed Tuesday at $13.98. This means that the lowest of the price targets implies an upside potential of more than 20 percent, while the highest ($20), over 40 percent.