SunTrust analyst Terry Tillman maintained a Buy rating and $65 price target on Workiva after the Workiva Amplify user conference, which convinced the analyst that has FY20 revenue estimate on Workiva is too conservative. The analyst noted that Workiva's Wdata product cycle is showing "strong early demand," and added that Workiva is "poised to win significant market share" in Europe. Tillman said he sees the company achieving a FY20 subscription growth rate of 19%, and doesn't think acquisitions are needed to achieve that number, as he believes organic drivers can lead to upside and an accelerating top-line. Workiva did speak about actively pursuing M&A, however, but the analyst believes deals would be below $100M in size.