Workday price target raised to $350 from $300 at Needham

Needham raised the firm’s price target on Workday to $350 from $300 and keeps a Buy rating on the shares. The company posted a largely in line Q4 with a lower subscription revenue beat but “typical” margin upside, while its international business growth accelerated about 200bps with success in both EMEA and APAC being highlighted, the analyst tells investors in a research note. The firm further cites Workday’s “small but interesting acquisition” of HiredScore, adding AI-driven talent intelligence, which van be a strong human capital management growth driver over the next several years.