BofA raised the firm’s price target on Workday to $300 from $270 and keeps a Buy rating on the shares after the company reported “strong” Q3 results and raised its outlook for full year top line and pro-forma operating margin. The initial outlook for 17%-18% year-over-year subscription revenue growth likely shows “continued conservatism given the macro” and the company noted margin percentage should trend upward in FY25, suggesting scale is more than offsetting investments, the analyst tells investors.
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- Workday (NASDAQ:WDAY) Soars after Impressing Analysts with Robust Q3 Results
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