1 Growth Stock Down 32% to Buy on the Dip, According to Wall Street
This month, Workiva (NYSE: WK) joined hundreds of publicly traded companies in reporting its financial results for the second quarter of 2023. This reporting season is especially important for investors as they monitor how the corporate sector is navigating a challenging economic environment.
Workiva develops software to help businesses aggregate data for reporting purposes, and its Q2 results impressed investors as it beat expectations on the top and bottom lines. The company is focusing on a new opportunity that involves helping customers report on their environmental, social, and governance (ESG) impacts, and it could be incredibly lucrative in the long run.
The Wall Street Journal tracks 10 analysts covering Workiva stock, and those analysts are overwhelmingly bullish on its prospects. In fact, not one single analyst recommends selling. The stock is trading at a 52-week high following its Q2 report, but it remains 32% below its best-ever level set during the tech boom in 2021. Here's why investors should follow Wall Street's lead and buy it on the dip.
Source Fool.com
