Workday price target raised to $215 from $184 at Piper Sandler

Piper Sandler raised the firm’s price target on Workday to $215 from $184 and keeps an Overweight rating on the shares post the Q4 results. While backlog growth rates for enterprise software application peers are challenged by recessionary headwinds, Workday :appears to have a steady hand navigating through these rough waters," the analyst tells investors in a research note. The firm cites higher estimates and a lower share count given the company’s buyback plans for target higher target price.