Workday price target raised to $325 from $290 at Mizuho

Mizuho raised the firm’s price target on Workday to $325 from $290 and keeps a Buy rating on the shares. Workday reported Q4 results above consensus estimates, but the subscription revenue and backlog beats were lower than prior quarters, sending shares lower, the analyst tells investors in a research note. The firm says that while management continues to execute via cross-selling into the base and landing new deals, Workday faces some tougher compares in fiscal 2025 as it laps the strong 2024 renewal cycle.