In a report published Tuesday, Morgan Stanley analyst Jennifer Swanson Lowe reiterated an Equal-Weight rating on Workday WDAY.
In the report, Morgan Stanley noted, “We expect strong growth to persist and drive upside to numbers on continued HCM adoption, while Financials, Big Data Analytics and Recruiting present longer-term drivers. However, at ~19x EV/CY15 rev., we already see meaningful upside to estimates priced in, though have little doubt numbers should continue moving higher.”
Workday closed on Monday at $100.36.
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