Workday price target raised to $330 from $310 at KeyBanc

KeyBanc analyst Jason Celino raised the firm’s price target on Workday to $330 from $310 on higher confidence, while keeping an Overweight rating on the shares. Heading into Workday’s Q4 earnings, the firm sees the potential for modest Q4 upside and slightly higher 2025 guidance. While broader HCM peers have called out incremental macro pressure, KeyBanc remains confident in Workday’s execution and maintains its thesis that the company could see subscription revenue growth acceleration as it benefits from its recent GTM changes.