Workday (WDAY) PT Raised to $125 at Cantor Fitzgerald on Strong Q4, Outlook

Cantor Fitzgerald analyst Brian White adjusted estimates and boosted his price target on Buy-rated Workday (NYSE: WDAY) to $125.00 (from $121.00) following strong Q4 results and a solid outlook for next year.

White commented, "Last night, Workday reported strong 4Q:FY15 results with revenue beating our projection (and FactSet consensus) with 68% sales growth in FY:15. Also, the company offered up a strong 1Q:FY16 revenue outlook and boosted its expected sales growth target in FY:16 to 42-45% (vs. up to 40% growth previously outlined). Finally, Workday announced plans last night to host an Analyst Event on April 15 in San Francisco. With another strong quarterly performance from Workday, an expanding portfolio, increased scale, a growing list of customers, expanding global partnerships and a bigger push overseas, we believe the company is well positioned in FY:16 for another year of strong growth. As such, we are boosting our revenue estimates and raising our 12-month PT to $125.00 (from $121.00)."

For FY:16, they are increasing revenue estimate to $1.115 billion from $1.097 billion and maintaining pro forma EPS projection at negative $0.17.

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 $93.94 yesterday.

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