Merrill Lynch Believes Workday (WDAY) Won’t Stop Here
In a report released today, Bradley Sills from Merrill Lynch reiterated a Buy rating on Workday (WDAY), with a price target of $315.00. The company’s shares closed last Monday at $270.92, close to its 52-week high of $282.77.
According to TipRanks.com, Sills is a 5-star analyst with an average return of 28.0% and a 73.4% success rate. Sills covers the Technology sector, focusing on stocks such as Coupa Software, Veeva Systems, and Salesforce.
Workday has an analyst consensus of Strong Buy, with a price target consensus of $289.55, representing a 6.7% upside. In a report issued on February 7, Loop Capital Markets also upgraded the stock to Buy with a $320.00 price target.
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Based on Workday’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $1.11 billion and GAAP net loss of $24.34 million. In comparison, last year the company earned revenue of $938 million and had a GAAP net loss of $116 million.
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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. The company was founded by David A. Duffield and Aneel Bhusri in March 2005 and is headquartered in Pleasanton, CA.