Workiva price target lowered to $85 from $90 at Raymond James

Raymond James analyst Alexander Sklar lowered the firm’s price target on Workiva (WK) to $85 from $90 and keeps an Outperform rating on the shares. Workiva delivered a strong Q1 with upside to revenue and earnings, alongside an unchanged full-year growth outlook but improved profitability, supported by larger deal sizes, strong retention, increasing AI adoption, and capital markets share gains, while the combination of high-teens subscription growth potential and expanding incremental EBIT margins above 50% underpins a favorable risk-reward profile despite limited near-term guidance upside, the analyst tells investors in a research note.