KeyBanc on Workday (WDAY): 'Underappreciated and Undervalued'

KeyBanc analyst Jason Celino reiterated an Overweight rating and $285.00 price target on Workday (NASDAQ: WDAY).

The analyst comments "We attended Workday's Financial Analyst Day in SF. Most notably, the Company provided an updated financial framework for FY28, targeting a 12-15% subscription revenue CAGR and ~35% OM, which we view as largely in line. Incrementally, the Company provided "soft" subscription guidance of 13% for FY27, which is technically lower, but many may view as conservative. In a vote of confidence, Elliott Management disclosed a $2B+ stake in the Company, seemingly aligning itself with management. Net, we come away more constructive on the Company's several growth vectors, and reiterate our OW rating."

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 $219.01 yesterday.

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