Analyst Scott Berg of Needham maintained a Buy rating on Workday (WDAY – Research Report), retaining the price target of $300.00.
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Scott Berg has given his Buy rating due to a combination of factors including expectations of revenue and EPS exceeding forecasts, despite some late-quarter deal slippage that may slightly impact cRPO growth. The demand for Workday’s offerings remained stable throughout the quarter, with only a few large deals being delayed, which suggests that cRPO growth could still reach the higher end of guidance.
Additionally, the company’s operating margin guidance is considered conservative, especially after recent reductions in workforce and anticipated investments in AI functionality. Management is expected to maintain a stable outlook for the year, with a focus on their evolving strategy, highlighted by the launch of six new agents, which could further enhance Workday’s market position.
According to TipRanks, Berg is an analyst with an average return of -3.4% and a 43.29% success rate. Berg covers the Technology sector, focusing on stocks such as Amplitude, Workday, and Five9.
In another report released yesterday, Goldman Sachs also reiterated a Buy rating on the stock with a $275.00 price target.