Despite widespread concerns in the market about the impact of artificial intelligence (AI) on the traditional software industry, cloud data platform provider Workiva (WK) is gaining collective favor from Wall Street analysts, driven by its substantial business momentum and attractive valuation. Although the company’s stock has fallen by 25% from the beginning of 2026 to the present, most believe the market sell-off has created a buying opportunity for the stock.
The primary concern for investors is that AI tools, represented by Anthropic’s Claude Code, could enable companies to quickly build their own software, thereby reducing reliance on external vendors. Additionally, AI-driven improvements in corporate productivity could lead to a reduction in the number of employees, consequently decreasing the procurement volume of software licenses.
However, this concern may not apply to Workiva. The core value of its flagship platform lies in helping large organizations integrate data scattered across numerous applications, establishing a “single source of truth.” Management uses this platform to draft executive reports and even critical regulatory filings such as U.S. Securities and Exchange Commission (SEC) documents. Analysts point out that management is unlikely to entrust such critical, low-error-tolerance workflows entirely to AI in the short term; for instance, submitting a document with errors to regulators could have serious consequences. This view resonates on Wall Street.
The Workiva platform can connect to various mainstream productivity applications, record systems, and storage platforms, aggregating data onto a dashboard to form a unified, trusted data view. Building on this, the company launched its AI assistant, Workiva AI, last year. Through simple commands, this tool can quickly draft common disclosure information in regulatory documents or transform tabular data into insights directly usable by management teams.
Workiva has also established a library of pre-set prompts, making it particularly convenient for companies introducing AI into core workflows for the first time. More importantly, this AI can learn from all files uploaded to the platform by the organization, thereby gaining a deep understanding of the context behind each request. As of the end of 2025, approximately 30% of Workiva’s customers had activated the AI feature. Company CEO Julie Iskow stated that once customers enable it, their usage frequency tends to increase consistently, indicating that Workiva AI is driving tangible value.
Workiva delivered a strong performance in 2025. Full-year total revenue reached a record $885 million, a 20% year-over-year increase, accelerating from the 17% growth rate in 2024 and establishing solid momentum for the company entering 2026. By the end of 2025, the total customer count reached a record 6,624, a 5% year-over-year increase. Particularly noteworthy is the explosive growth in the high-value customer segment: the number of customers with annual contract values exceeding $300,000 surged by 42%, while those exceeding $500,000 also grew significantly by 37%.
In terms of profitability, Workiva also made significant progress. Although the company still reported a net loss of $26.2 million for the year based on Generally Accepted Accounting Principles (GAAP), this represented a substantial narrowing of 52% compared to the loss in 2024. Excluding one-time and non-cash expenses, the company’s adjusted profit reached $103.7 million, achieving a remarkable 94% year-over-year growth.
Among the 14 analysts covering Workiva tracked by *The Wall Street Journal*, 10 give a “Buy” rating, 3 hold an “Overweight” view, only one recommends a “Hold,” and no analysts suggest a “Sell.” The consensus price target is $89.45, implying approximately 45% upside potential over the next 12 months. The most optimistic price target is set at $102, suggesting a potential gain of up to 66%.
