Workiva price target raised to $102 from $85 at Stifel

Stifel analyst Brad Reback raised the firm’s price target on Workiva (WK) to $102 from $85 and keeps a Hold rating on the shares. Workiva delivered “strong” Q3 results, supported by a continuation of the healthy buying environment, broad solution demand and higher volume of expansion deals seen in Q2, the analyst tells investors. Management “addressed the election elephant in the room,” noting their ESG growth strategy remains “relevant and intact,” but the firm believes the election outcome likely adds an extra degree of uncertainty to the future regulatory environment in the U.S., the analyst tells investors.