This Under-the-Radar Growth Stock Is Down 55%, but Wall Street Is Still Bullish. Here’s Why.
Workiva (NYSE: WK) developed a portfolio of software products to help organizations manage their reporting and regulatory compliance obligations. That isn’t exactly a glamorous mission, which is why its stock tends to fly under the radar compared to many others in the software space.
However, Workiva recently started leveraging artificial intelligence (AI) to make its products more powerful than ever, which is helping to attract high-spending enterprises at a rapid pace. In fact, its fastest growing customer cohorts are now the ones spending the most money.
Despite Workiva’s progress, its stock is trading 55% below its all-time high, which was set during 2021 when the last tech boom drove its valuation to an unsustainable height. But that might be an opportunity for investors, because the majority of the analysts tracked by The Wall Street Journal have assigned the stock a buy rating, and none recommend selling. Read on.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.