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UPDATE: JP Morgan Raises PT to $56 on Workday on Strong Quarter Results

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Workday Is Growing Into Its Valuation

JP Morgan reiterated its Neutral rating on Workday (NYSE: WDAY) but raised its price target from $54 to $56.

JP Morgan said, "WDAY reported very strong results in its first quarter as a public company, with growth accelerating from the prior period. All metrics were better than anticipated except for deferred revenue, which was about in line, though this would also have been better than estimated but for a purposely reduced average billings period."

Workday closed at $53.19 on Wednesday.

Latest Ratings for WDAY

Oct 2016Canaccord GenuityMaintainsBuy
Sep 2016OppenheimerMaintainsOutperform
Sep 2016NomuraMaintainsNeutral

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Posted-In: JP MorganAnalyst Color Price Target Intraday Update Analyst Ratings


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