Workday price target raised to $220 from $205 at DA Davidson

DA Davidson analyst Robert Simmons raised the firm’s price target on Workday to $220 from $205 and keeps a Buy rating on the shares. The company’s Q4 results were "good enough" and set up Workday "well" for the coming year, the analyst tells investors in a research note. While sales cycles in the software space are elongated, Workday is executing through it, delivering solid growth and steady progress towards its margin goals, DA Davidson added.