UPDATE: Jefferies Raises PT on Workday Following Strong F2Q Results
In a report published Wednesday, Jefferies analyst Ross MacMillan reiterated a Buy rating on Workday (NYSE: WDAY), and raised the price target from $86.00 to $88.00.
In the report, Jefferies noted, “Workday's strong F2Q 2014 (Jul.) results beat our estimates across-the-board. WDAY also raised FY14 guidance and provided F3Q guidance that was mostly above our forecasts. The sizable billings beat was more modest from an ARR perspective as WDAY signed a large contract with upfront payment terms. Maintain Buy as we believe WDAY has amongst the most attractive share gain potential in software.”
Workday closed on Tuesday at $76.01.
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