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Workday Shares Pop On Bullish Analyst Rating

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  • DA Davidson analyst Robert Simmons initiated coverage of Workday Inc (NASDAQ: WDAY) with a Buy rating and $300 price target, implying a 13% upside.

  • Simmons said that the company is a dominant Cloud HCM provider in the U.S. with a financial management suite that has matured to take the baton on driving growth.

  • Simmons adds that Workday's ramping international investments should allow the company to sustain its 20% subscription growth as it tracks toward its $10 billion revenue target.

  • Workday provides enterprise cloud applications worldwide.

  • Workday reported Q2 EPS of $1.23 per share, beating the consensus of $0.78. The sales of $1.26 billion exceeded the consensus of $1.24 billion.

  • Workday raised its FY22 subscription sales guidance to $4.5 billion - $4.51 billion. Workday issued Q3 subscription sales guidance of $1.156 billion - $1.158 billion.

  • Price Action: WDAY shares traded higher by 2.94% at $264.75 on the last check Wednesday.

Latest Ratings for WDAY

Oct 2021

DA Davidson

Initiates Coverage On

Buy

Sep 2021

Needham

Maintains

Buy

Sep 2021

Wells Fargo

Initiates Coverage On

Overweight

View More Analyst Ratings for WDAY
View the Latest Analyst Ratings

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