Workday price target raised to $350 from $300 at Oppenheimer
The Fly

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

Oppenheimer raised the firm’s price target on Workday to $350 from $300 and keeps an Outperform rating on the shares as its earnings preview research mosaic indicates upside to estimates and a good finish to the fiscal year for the company’s business and lead generation. Based on Oppenheimer’s checks, Workday’s business momentum, demand environment, and sales execution remained consistent in Q4. On balance, the business will likely show signs of continued deceleration from macro uncertainty, and in the firm’s view, the subscription revenue growth trajectory for the company is unlikely to change materially as the business starts lapping the benefits from early renewals.

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