Workday price target raised to $300 from $280 at DA Davidson

DA Davidson analyst Robert Simmons raised the firm’s price target on Workday to $300 from $280 and keeps a Buy rating on the shares. The company reported a “good” Q3 with steady demand and execution paired with margin expansion, also offering an “encouraging” FY25 guide despite the ongoing uncertain macro environment, the analyst tells investors in a research note. Workday is increasingly driving more platform sales as it plays the consolidator role and is building a healthy pipeline around the globe, setting itself up for durable growth, the firm added.