Workiva Inc. (WK) Stock Price & How to Invest

Workiva (NYSE: WK) sells a single cloud platform for regulated reporting. Finance, audit, risk and sustainability teams pull figures from their ERP, general ledger and other systems, assemble documents that stay linked back to those sources, and file the result with regulators. The original wedge was SEC filings and XBRL tagging, where changing one number has to flow through every table and footnote that uses it. From there the company added SOX and internal controls, statutory reporting, ESEF filings in Europe, and sustainability disclosure. Around 92% of revenue is subscription and support, spread across roughly 6,750 customer organizations including a large share of the Fortune 500.

The investment picture in August 2026 is a growth business becoming a cash business. Second quarter revenue of ~$255M grew ~19%, GAAP operating margin turned positive at ~4.6% after negative ~10.2% a year earlier, and non-GAAP operating margin reached ~16.8%, which management said met its 2027 target a full year early. Full year free cash flow guidance now sits near a ~21% margin. Large accounts are doing the work: customers paying more than $300K a year rose ~34%. The complication is European rules. The EU Omnibus package cut CSRD scope sharply, with estimates putting the exclusion near 80% of previously covered companies, so the regulatory pull that justified much of the sustainability build is thinner than it looked, even if demand from big filers and their supply chains holds up.

European scope is the clearest risk. Directive (EU) 2026/470 raised CSRD thresholds to roughly 1,000 employees and EUR 450M of turnover and fully exempted listed SMEs, which removes a large slice of the mandated buyers the sustainability products were sized for. Competition arrives from two directions at once: disclosure specialists that undercut on the filing piece, and close and controls platforms expanding toward reporting. The ~$773M of convertible notes sits against ~$815M of cash and securities, so the balance sheet is comfortable, though conversion becomes a dilution question at higher share prices. Retention around 111% is decent but below what the stock was once valued on, and with customer count growing about 4% there is little new-logo volume to offset a further slip. Platform consolidation deals take a long time to close, so a budget freeze shows up as delayed expansions rather than churn, which makes it slow to detect.

10 analysts publish price targets on WK, averaging $77.20 against a $74.30 price as of August 2026, or +3.9%. The published targets run from $65.00 to $91.00, a moderate spread, and the ratings split 11 buy, 0 hold, 0 sell. Over the last six months there have been 0 raises and 3 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full WK forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Workiva Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Large accounts, not logo count. Total customers grew about 4% year over year to ~6,750, so the count of logos is not where the revenue comes from. The most optimistic published target, $91.00, assumes this works close to its best case.

The case against. European scope is the clearest risk. The most pessimistic target, $65.00, is roughly what WK is worth if this bites instead.

Read the full bull and bear case on WK, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Workiva Inc.'s investor relations page or your broker.

• Revenue (TTM): ~$966M
• Q2 2026 revenue growth: ~19% year over year, subscription also ~19%
• Non-GAAP operating margin (Q2 2026): ~16.8%, up from ~3.8%
• 2026 free cash flow margin guidance: ~21% on ~$1.04B of revenue
• Cash and marketable securities: ~$815M against ~$773M of convertible notes
• Enterprise value / 2026 revenue: ~4x

At ~$74 a share the market value is ~$4.17B. Netting out ~$815M of cash and adding back ~$773M of converts puts enterprise value near ~$4.1B, roughly 4x the ~$1.04B of revenue guided for 2026 and about 19x the free cash flow that a ~21% margin implies. Software growing in the high teens with cash margins near 20% carried far richer multiples in 2021; the market now pays for steady compounding rather than acceleration, and Workiva is priced accordingly.

Other names that sit close to WK: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get WK exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so WK sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where WK fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

Workiva is a compliance workflow subscription that has finally turned growth into cash, priced as though the sustainability leg of its story still works the way it was drawn two years ago.

Whether WK is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is WK a buy or a sell?, and where the stock could go from here in the WK stock forecast.

For income investors, whether WK pays a dividend and how the payout looks is covered in does WK pay a dividend? And to weigh WK against a peer, read the full side-by-side comparisons: WK vs ORCL and WK vs SAP.