Drexel Hamilton Remains Bullish on Workday (WDAY) Ahead of 2Q Report
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Drexel Hamilton reiterated a Buy rating and $92.00 price target on Workday (NYSE: WDAY) ahead of the company's 2Q earnings report. Workday will report its earnings results today (8/24) with a conference call scheduled for 5:00 pm ET.
Analyst Brian White commented, "We believe Workday will slightly exceed our 2Q:FY17 revenue estimate of $372.5 million (up 32% YoY; Street is at $373.1 million) and meet our loss per share estimate of $0.02 (Street is at negative $0.02). Recall, Workday's 2Q:FY17 outlook calls for sales of $371-373 million. Our 2Q:FY17 revenue forecast calls for 8% QoQ growth and below the four year average increase of 14% for past July quarters."
Shares of Workday closed at $79.95 yesterday.
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