Workday Inc Receives a Hold from Credit Suisse

In a report issued on May 10, Brad Zelnick from Credit Suisse maintained a Hold rating on Workday Inc (NYSE: WDAY), with a price target of $110. The company’s shares closed on Friday at $135.74, close to its 52-week high of $140.

Zelnick wrote:

“We have assumed coverage of Workday. We have made no changes to our rating, target price, or estimates at this time. Share price performance WD A Y.O Q S& P 5 0 0 IN D EX Ju l- 1 7 O ct – 1 7 Jan – 1 8 A p r – 1 8 8 0 1 0 0 1 2 0 1 4 0 500 INDEX closed at 2697.79 Daily May10, 2017 – May09, 2018, 05/10/17 = and valuation metrics EPS (Excl. EPS (CS adj., ) 0.23 1.05 1.20 1.66 Prev. EPS (CS adj., US$) – – – – P/E (CS adj.) (x) 593.3 130.0 114.1 82.4 P/E rel.”

According to TipRanks.com, Zelnick is a 4-star analyst with an average return of 13.0% and a 70.6% success rate. Zelnick covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Ultimate Software, and Microsoft Corp.

Workday Inc has an analyst consensus of Moderate Buy, with a price target consensus of $128.88.

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Based on Workday Inc’s latest earnings release for the quarter ending January 31, the company reported a quarterly GAAP net loss of $89.1 million. In comparison, last year the company had a GAAP net loss of $64.04 million.

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Workday, Inc. engages in the provision 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.