Workiva (WK) PT Raised to $105 at Raymond James

Raymond James analyst Brian Peterson raised the price target on Workiva (NYSE: WK) to $105.00 (from $95.00) while maintaining a Outperform rating.

The analyst comments "We reiterate our Outperform rating on WK following 3Q25 results that again topped expectations on the top and bottom lines while also making notable progress toward its medium term profitability targets. Importantly, despite a more volatile macro environment, WK has continued to demonstrate bookings resilience with billings, RPO and cRPO all growing north of 20% y/y. We also suspect that investors will be especially pleased to see this revenue/billings upside manifest with strong incremental EBIT margins, with its updated outlook now calling for an impressive 35% incremental margin. While lumpiness around back office buying trends, uncertainty surrounding sustainability reporting (more of a perception issue) and changes in GTM leadership, could create noise in subsequent quarters, we believe that WK’s solid execution stands out (especially in a weaker software tape). Ultimately, we continue to like the risk/reward with shares trading at 5x our 2026E revenue (and 23x new 2027E FCF)."

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