Workday (WDAY) PT Raised to $270 at TD Cowen
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Rating Summary:
30 Buy, 34 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 29 | New: 13
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TD Cowen analyst J. Derrick Wood raised the price target on Workday (NASDAQ: WDAY) to $270.00 (from $250.00) while maintaining a Outperform rating.
The analyst commented, "WDAY delivered its 5th consecutive backlog upside qtr and slightly raised FY24 guide. A lot of new strategies seeded over the last 18 months seem to be paying off, and it feels like recent new leadership is only helping to up-level this momentum. Strength is broad-based, but we see signs for FINS and Int'l growth trends to be strengthening. Shares at ~25x EV/CY24E FCF still attractive. PT to $270."
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