Mizuho Securities Reiterates Buy Rating on Workday (WDAY) Into Analyst Day

Mizuho Securities analyst Siti Panigrahi reiterated a Buy rating and $220.00 price target on Workday (NASDAQ: WDAY) ahead of tomorrow's Analyst Day. The analyst expects the company to reiterate its $10 billion focus on cross-sell opportunities.

The analyst commented, "We remain positive on WDAY shares heading into its Analyst Day tomorrow, 9/13 at 4PM ET. We expect Workday to focus on its long-term growth potential, reiterating their goal of $10B by 2026 at 25% operating margins, highlight FINS' diverse product portfolio and its continued traction in medium enterprise, and discuss product innovations such as Workday Extend, a key element in increasing stickiness and enhancing Workday's ecosystem. Delivering a strong FQ2, Workday has yet to see major macro impacts, including to top-of-funnel pipeline, besides sales cycle elongation. We believe Workday remains in a strong position to become the preeminent vendor in the back-office suite. We maintain our Buy rating and our $220 price target."

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 $169.96 yesterday.

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