BofA Securities analyst Brad Sills, raised the price target on Workday (NASDAQ: WDAY) to $310.00 (from $300.00) while maintaining a Buy rating after the company raised guidance for FY22 subs revenue to $4.50-4.51bn (+19% y/y) above BofA's $4.44bn. The guidance increase was simply form as demand trends improving.

The analyst stated "Commentary on strong planning and procurement sales to new and existing customers suggests that the strategy to surround many account with value added FINS module places Workday is a good position to win the core FINS over the near and longer term. While Q2 operating margin upside (23.2% vs our 20%) points to meaningful operating leverage, commentary suggests a more muted expectation for near term margin, given plans to catch up on hiring and a compensation plan shift to cash versus stock, likely to weigh on FY22."