Workiva price target raised to $96 from $88 at BMO Capital

BMO Capital analyst Daniel Jester raised the firm’s price target on Workiva to $96 from $88 and keeps an Outperform rating on the shares. The company’s Q4 results marked a "solid finish" to the year while its FY23 outlook implies a better than expected subscription revenue trajectory, the analyst tells investors in a research note. Workiva shares trade at a premium for its financial profile, but currently that is justified given the company’s acceleration opportunity for growth.