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1 Growth Stock Down 54% to Buy on the Dip, According to Wall Street

TheMotleyFool 
0 0 06.08.24
1 Growth Stock Down 54% to Buy on the Dip, According to Wall Street: https://g.foolcdn.com/editorial/images/785846/a-computer-programmer-working-at-a-desk-in-an-apartment.jpg
 

Software provider Workiva (NYSE: WK) helps organizations aggregate their data for reporting purposes, and it's on the cusp of a major opportunity in the environmental, social, and governance (ESG) space. It's one of the latest technology companies to report its financial results for the quarter ended June 30, and it managed to beat its prior revenue forecast.

Workiva stock is trading 54% below its all-time high that was set during the tech frenzy in 2021. It was overvalued back then -- as were many enterprise software stocks -- but the company has grown significantly ever since, so it's starting to look like a great value.

The decline hasn't scared Wall Street, because the majority of analysts tracked by The Wall Street Journal have given Workiva stock the highest-possible buy rating. Here's why it might be a good idea to follow their lead.

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Source Fool.com

Workiva Inc. A Stock

€64.00
1.590%
Workiva Inc. A gained 1.590% today.

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