Workiva price target raised, named new application software ‘top pick’ at Citi

Citi analyst Steven Enders raised the firm’s price target on Workiva to $128 from $110 and keeps a Buy rating on the shares, which the firm calls its new “top pick” in U.S. application software after updating its stock preferences following Q1 earnings from the group. The group has seen continued macro pressures, but growth began to rally, driven by stabilizing rates and an emerging AI tailwind, the analyst tells investors in a back office software group recap note.