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Drexel Hamilton Raises Price Target on Workday (WDAY) Following 3Q Beat

December 2, 2016 9:33 AM EST
Get Alerts WDAY Hot Sheet
Price: $272.60 +1.61%

Rating Summary:
    36 Buy, 23 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 20 | Down: 14 | New: 22
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Drexel Hamilton reiterated a Buy rating on Workday (NYSE: WDAY), and raised the price target to $104.00 (from $110.00), following the company's 3Q earnings report. Workday reported sales of $409.6 million, exceeding the Street's $400.5 million estimate. Pro forma EPS of positive $0.03 breezed through the Street's estimate of a loss per share of $0.05.

Analyst Brian White commented, "Given weakness with large deals in early November, we are slightly reducing our revenue estimates and lowering our 12-month price target to $104.00 from $110.00. We believe the after-market sell-off in the stock is extreme and we would be aggressive buyers on weakness this morning."

For an analyst ratings summary and ratings history on Workday click here. For more ratings news on Workday click here.

Shares of Workday closed at $81.60 yesterday.



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Earnings, Drexel Hamilton, Brian White