In a report released today, Robert Breza from Northland Securities maintained a Hold rating on Workday Inc (WDAY), with a price target of $200. The company’s shares opened today at $199.85, close to its 52-week high of $200.
Breza commented:
“We believe the company’s conservative guidance based on its total backlog should allow it to beat and raise estimates throughout the year. Remain MP with PT increasing to $200. Billings were $1,167M (+28% Y/Y) vs consensus of $1,123.3M. $788.6M/$0.41 both topping consensus $777M/$0.32. Subscription revenue of $673.5M (+37% Y/Y), was above streets estimate of $665M and grew 30% Y/Y to $674M. Four new Fortune 500 customers were added to Financials during the quarter. Services revenue of $115M, was also above $113M consensus.”
According to TipRanks.com, Breza is ranked #418 out of 5224 analysts.
Currently, the analyst consensus on Workday Inc is a Moderate Buy with an average price target of $205.05, representing a 2.6% upside. In a report issued on February 24, Canaccord Genuity also maintained a Hold rating on the stock with a $175 price target.
See today’s analyst top recommended stocks >>
Based on Workday Inc’s latest earnings release for the quarter ending October 31, the company reported a quarterly GAAP net loss of $153 million. In comparison, last year the company had a GAAP net loss of $89.1 million.
Based on the recent corporate insider activity of 87 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Workday, Inc. engages in the development of enterprise cloud applications for finance and human resources. It delivers financial management, human capital management, and analytics applications designed for companies, educational institutions, and government agencies.
