Workday (WDAY): Fundamentals Good But The Stock Isn't Cheap - Jefferies

Jefferies analyst, John DiFucci, reiterated his Hold rating on shares of Workday (NYSE: WDAY) but believes that that the company could report a strong F2Q after his checks suggest large HCM deal wins with marquee names and a HCM pipeline that remains healthy. Also, he believes F3Q started off well.

However, he is keeping his rating and price target of $92 due to the recent run up to a valuation of 15.2x EV/LTM and 11.8x EV/NTM subscription revenue.

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 $103.50 yesterday.

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