Drexel Hamilton Reiterates Buy on Workday (WDAY) Ahead of 3Q Report

November 29, 2016 8:58 AM EST
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Drexel Hamilton reiterated a Buy rating and $110.00 price target on Workday (NYSE: WDAY) ahead of the company's 3Q earnings report. Drexel believes that Workday will slightly beat revenue estimates of $400 million and meet loss per share estimates of $0.04.

Analyst Brian White commented, "In our view, Workday's expanding product portfolio, unique technological capabilities and growing ecosystem is creating one of the most powerful platforms in the SaaS industry. Given the acquisition activity in the cloud space this year, there are limited, high-quality, leading SaaS pure plays available, thus we believe Workday has underlying support in this market."

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 $83.18 yesterday.

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