Drexel Hamilton Cuts Price Target on Workday (WDAY) Despite a Strong 4Q Showing

Drexel Hamilton maintained a Buy rating on Workday (NYSE: WDAY), and cut the price target to $88.00 (from $103.00), following the company's 4Q. Workday reported 4Q sales of $323.4 million that beat the Street estimates at $319.6 million. Pro forma EPS of negative $0.01 was also better than the Street at a loss per share of $0.05.

Analyst Brian White commented, "Workday reported a healthy 4Q:FY16 print with continued momentum in Financial Management and with a more sanguine view of the competitive environment."

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 $60.45 yesterday.

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