Workday (WDAY): 2Q Preview - Cowen

August 19, 2016 7:17 AM EDT
Get Alerts WDAY Hot Sheet
Price: $85.76 -1.06%

Rating Summary:
    18 Buy, 27 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 25 | Down: 28 | New: 8
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Cowen analyst, Derrick Wood, reiterated his Market Perform on shares of Workday (NYSE: WDAY) ahead of 2Q results on 8/24.

The analyst expects in-line to modest upside to the analyst's ST subscription billings growth of 37%. The analyst thinks large deal activity in HCM has been relatively steady vs. the last couple of quarters and checks continue to point to limited enterprise traction with Financials outside of the Education vertical.

At ~8x EV/CY17 Sales, the analyst thinks the stock seems fully valued.

No change to the price target of $75.

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 $81.37 yesterday.

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