Workday (WDAY) PT Raised to $110 at Drexel Hamilton Post Q2
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Drexel Hamilton analyst Brian White reiterated a Buy rating and lifted his price target on Workday (NYSE: WDAY) to $110.00 (from $92.00) following better than expected 2Q results.
White commented, "Last night, Workday reported a better than expected 2Q:FY17 print with key metrics exceeding our estimates, and gave a 3Q:FY17 outlook that we believe is good enough to satisfy the market and focus on the expanding Workday ecosystem. Looking ahead, Workday is hosting a Financial Analyst Day at Workday Rising on September 27."
He added, "In light of another stronger than expected performance, we are slightly raising our revenue estimates and increasing our 12-month price target to $110.00 from $92.00. Like other high-growth companies, WDAY shares struggled earlier this year but we believe will turn positive."
Shares of Workday closed at $79.65 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesDrexel Hamilton, Brian White
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