Workiva Leads the Business Reporting Market
With few competitors and a strong base, Workiva looks set to prosper.
John Barrett: We recently initiated coverage of narrow-moat Workiva and currently have a fair value estimate of $52. We believe that Workiva has carved out a defensible niche in regulatory reporting and that shares are attractively priced at current levels.
Workiva’s platform, named Wdesk, is a best-of-breed software solution that helps companies collect, manage, and prepare structured and unstructured data from disparate sources for reporting business data. Some examples of typical use cases are for reporting to regulatory entities like the SEC and various tax authorities. In many instances, Wdesk is replacing workflows that involve lots of human intervention, which can be error-prone and time-consuming.
John Barrett does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.