Workday (WDAY) PT Raised to $110 at Drexel Hamilton Post Q2

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."

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 $79.65 yesterday.

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