UPDATE: Stifel Initiates Coverage On Workiva On Market-Leading Position

In a report published Tuesday, Stifel analyst Tom Roderick initiated coverage on Workiva (NYSE: WK) with a Buy rating and $20.00 price target.

In the report, Stifel noted, “We are initiating coverage of Workiva Inc. (WK) with a Buy rating on the shares and a 12-month target price of $20. We believe the company offers a differentiated suite of business productivity solutions built on a competitively superior technology platform that has enabled the company to build a market-leading position with its SEC reporting product.”

Workiva closed on Monday at $13.98.