Workday (WDAY) PT Lowered to $225 at BMO Capital

BMO Capital analyst Keith Backman lowered the price target on Workday (NASDAQ: WDAY) to $225.00 (from $230.00) while maintaining a Market Perform rating.

The analyst comments "Our general take is that WDAY had a solid quarter, though stocks are seemingly facing a more discerning response given current multiple ranges vs. historical parameters for growth software. We are modestly lowering our target price to $225 from $230, and retain our Market Perform rating. We continue to be positive on the fundamentals of WDAY but against our mid-20% growth expectations for next year, we would like a better entry point."

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