William Blair analyst Jake Roberge has maintained their bullish stance on WK stock, giving a Buy rating on July 29.
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Jake Roberge has given his Buy rating due to a combination of factors that highlight Workiva’s strong performance and potential for growth. The company reported impressive second-quarter results, surpassing consensus estimates across key metrics, notably with a 23% increase in subscription revenue growth, which exceeded the expected 20%. This growth, coupled with Workiva’s commitment to enhancing profitability, as evidenced by their raised operating margin guidance for 2025, underscores a positive outlook.
Despite challenges such as macroeconomic uncertainties and tempered demand for its sustainability suite, Workiva has demonstrated prudent management by incorporating conservatism into its guidance. The company’s shares are currently trading at a lower multiple compared to its peers, suggesting an attractive valuation. Additionally, Workiva’s strong retention rates, cross-sell opportunities, and anticipated margin expansion further support the Buy rating, although risks such as competition and execution remain considerations.
According to TipRanks, Roberge is an analyst with an average return of -5.0% and a 35.90% success rate. Roberge covers the Technology sector, focusing on stocks such as DocuSign, BlackLine, and Workiva.
In another report released on July 29, Citi also maintained a Buy rating on the stock with a $56.00 price target.