Workday (WDAY): Analyst Day Notes - BMO

September 28, 2016 9:07 AM EDT
Get Alerts WDAY Hot Sheet
Price: $82.54 +0.56%

Rating Summary:
    17 Buy, 27 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 17 | New: 10
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BMO Capital analyst, Keith Bachman, reiterated his Market Perform on Workday (NYSE: WDAY) after the company's analyst day. The analyst is more bullish on Workday’s prospects to generate meaningful share gains in financials, and thus attractive revenue growth over the next few years.

He thinks Workday has a superior platform that will provide sustainable competitive advantage. Though, large financial wins could create lumpy billings growth. The one weak point is the valuation.

The analyst stated "We would consider using any weakness in the shares to get more constructive and regret not using the short lived weakness in Brexit to get more constructive".

No change to the price target of $93.

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 $89.79 yesterday.

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