On Wednesday after the market close, Workday Inc (NYSE: WDAY) reported slightly weak earnings and forecasts, but displayed strong revenues
relative to analyst estimates.
D.A. Davidson's Take
"While WDAY posted a positive operating margin, EPS was negatively impacted by a ~$15 million charge associated with a private
company investment write-off," stated Jack Andrews, D.A. Davidson analyst. As a result of Andrews' positive assessment, D.A.
Davidson maintained Workday's Buy rating and raised the price target from $99.00 to $107.00 price target.
Related Link: Workday's
Q2 Nothing To Complain About; Canaccord's Price Target Raised To $98
According to Andrews, Workday's FY16Q2 was the second strongest quarter in company history, while its EMEA division added a
record number of customers.
In addition, Workday Planning experienced "higher-than-expected" demand ahead of its release in late September, stated the
analyst. The product has over 50 customers, beating expectations.
At time of writing, Workday traded at $84.92, up 6.62 percent on Thursday.
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Latest Ratings for WDAY
| Date |
Firm |
Action |
From |
To |
| Aug 2016 |
Baird |
Maintains |
|
Outperform |
| Aug 2016 |
Citigroup |
Maintains |
|
Neutral |
| Aug 2016 |
Drexel Hamilton |
Maintains |
|
Buy |
View More Analyst Ratings for
WDAY
View the Latest Analyst Ratings
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