Monness Believes Workday (WDAY) Won’t Stop Here


Monness analyst Brian White maintained a Buy rating on Workday (WDAY) today and set a price target of $280.00. The company’s shares closed last Tuesday at $261.73, close to its 52-week high of $282.77.

According to TipRanks.com, White is a top 100 analyst with an average return of 33.4% and a 77.7% success rate. White covers the Technology sector, focusing on stocks such as Spotify Technology SA, Slack Technologies, and Alphabet Class A.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Workday with a $288.85 average price target, implying a 10.8% upside from current levels. In a report issued on February 19, Evercore ISI also maintained a Buy rating on the stock 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.

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