Overview
Truist Securities has reiterated a Buy rating on Workiva (NYSE: WK) and maintained a $110.00 price target, despite the software company's shares sliding 19% year-to-date. The stock is trading at $68.27 and remains materially below its 52-week peak of $101.15. InvestingPro data cited by market observers characterizes the name as undervalued and flags its relative strength index (RSI) as indicating oversold conditions.
Relative performance and technical context
Within the software coverage universe, the median decline has been about 21% over the same period, according to the research referenced by analysts, placing Workiva's performance marginally ahead of the cohort. The RSI reading referenced in InvestingPro analysis suggests the shares are in oversold territory, a technical signal some investors interpret as creating scope for a rebound if sentiment stabilizes.
Truist's thesis
Truist pointed to the "unique nature of markets served with tech, competitive & network effect moats," arguing that Workiva is positioned to outpace the firm's software coverage by growing subscription and support revenue in the high teens to 20%+ range on a multi-year basis. On valuation, Truist described Workiva as "compelling" at roughly 4x calendar-year 2026 estimated sales for investors willing to accept near-term market volatility tied to AI developments.
The research note also addressed 2026 expectations: even if the company's initial guidance for that year proves conservative, Truist suggested Street estimates of about 17% subscription and support revenue growth for 2026 are a reasonable baseline and leave room for upside over the course of the year.
Corporate leadership and governance updates
Workiva announced several senior leadership and board changes effective in 2026. Barbara Larson will join as Executive Vice President and Chief Financial Officer effective January 20, 2026; she previously served as CFO at SentinelOne. The company also added two experienced finance executives to its board, appointing Scott Herren, former EVP and CFO of Cisco, and Mark Peek, former EVP, CFO and Co-President at Workday, with both board roles effective during 2026.
Analyst activity and market interest
In the wake of those leadership moves, BTIG initiated coverage of Workiva with a Buy rating, citing the business's strong customer retention and notable subscription revenue growth. Raymond James reiterated an Outperform rating and set a $105 price target following the announcement of Larson's appointment.
Adjacent industry development
Separately, Wayfair has announced a partnership with Google to develop the Universal Commerce Protocol, an initiative intended to improve AI-driven shopping experiences and create a more seamless checkout flow across Google platforms.
Conclusion
Truist's reaffirmation centers on durable subscription growth, competitive moats, and a valuation metric that the firm views as attractive relative to its CY26E sales. That view sits against a backdrop of notable share-price weakness and recent executive and board changes, which have prompted renewed analyst attention and follow-on coverage from other firms.