Workiva price target lowered to $100 from $120 at Stifel

Stifel lowered the firm’s price target on Workiva (WK) to $100 from $120 and keeps a Buy rating on the shares. Workiva delivered a modest Q1 beat, but management flagged a more cautious buying environment towards quarter-end, citing macro turbulence and policy uncertainty. Despite management’s bookings commentary and what the firm views as a clearly more challenging regulatory backdrop, Workiva decided to reiterate its FY25 revenue outlook while revising its free cash flow margin guidance down to 10% from 12%, the analyst tells investors.