BofA lowered the firm’s price target on Workday to $265 from $275 and keeps a Buy rating on the shares after speaking to nearly a dozen partners to gauge Q2 activity and trends. Most partners cited in line or better results and suggested stable deal activity from Q1, the analyst tells investors in a research note. Workday continues to outpace ERP industry growth, driven by steady low/mid teens HCM growth and mid 20s financials growth, and Workday is well positioned to generate solid, durable low 20s free cash flow growth, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WDAY:
- Workday price target lowered to $260 from $275 at Wells Fargo
- Workday Appoints Mark Garfield as New Chief Accounting Officer
- Workday put volume heavy and directionally bearish
- Workday, Salesforce partnership makes strategic sense, says Baird
- Salesforce, Workday announce plans for new AI employee service agent