Evercore ISI raised the firm’s price target on Workday to $350 from $310 and keeps an Outperform rating on the shares ahead of Workday’s Q4 results due next Monday and after a recent round of industry checks. Partners are not yet giving an “all clear” sign, says the analyst, who expects Workday delivers a “beat and bracket” quarter and keeps its initial FY25 guidance of about 17%-18% revenue growth and flattish operating margins. While the firm sees the risk/reward being “balanced into the print on a tactical basis,” it continues to like the potential for a modest re-rating as estimates push higher over the course of calendar year 2024, the analyst added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on WDAY: