Workiva upgraded to Outperform from Market Perform at Raymond James

Raymond James upgraded Workiva (WK) to Outperform from Market Perform with a $135 price target The firm repositioned several ratings throughout the application software sector at the start of 2025. Workiva’s accelerating bookings dynamics observed in Q3 can continue and drive an acceleration in subscription revenue over the next 12 months, the analyst tells investors in a research note. The firm says this dynamic, coupled with positive commentary around the company’s multi-pronged approach to revamping its go-to-market organization, provides confidence in tits ability to achieve its 2027 revenue target that is not reflected in the stock today.