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UPDATE: Wedbush Initiates Workday with Outperform on Cloud Computing Potential

Workday Upgraded At Stephens; Firm Says 'Force Is Strong'
Workday Hosted Its Annual Conference And Analyst Event: Here's What Wall Street Is Saying

In a report published Wednesday, Wedbush analyst Steve Koenig initiated coverage on Workday (NYSE: WDAY) with an Outperform rating and $76.00 price target.

In the report, Koenig noted, “WDAY is a play on the potential for cloud computing to fundamentally remake the $25B enterprise resource planning (ERP) market, just as it has disrupted the $13B customer relationship management (CRM) market. Our checks indicate significant interest in SaaS ERP from enterprises saddled with expensive on-premise systems that are costly to maintain and update, and which are based on products that are no longer considered strategic, go-to-market offerings by their vendors.”

Workday closed on Tuesday at $60.00.

Latest Ratings for WDAY

Sep 2015BTIG ResearchInitiates Coverage onBuy
Aug 2015JMP SecuritiesMaintainsMarket Outperform
Aug 2015WedbushReiteratesOutperform

View More Analyst Ratings for WDAY
View the Latest Analyst Ratings

Posted-In: WedbushAnalyst Color Initiation Analyst Ratings


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