FBN Securities initiated Workday WDAY with a Sector Perform rating and a $60.00 price target.
FBN Securities analyst Shebly Seyrafi commented, "We are initiating coverage of Workday (WDAY) with a Sector Perform rating and $60PT. Founded by the former leaders (some would say visionaries) of PeopleSoft (which Oracle acquired in 2005), the company has built a very strong cloud-based HCM (human capital managemnet) solution (using object oriented technology, in-memory technology, integration with other applications) and is now expanding into financials/ERP (thus greatly expanding its TAM). […] Key concerns include valuation (EV/sales ratio is high, even relative to its fast growth rate), lockup expirations in April, and growing SaaS competition with Oracle and SAP."
Workday closed at $60.37 on Tuesday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in