D.A. Davidson & Co. Sees Impressive FY2Q15 Results For Workday

In a report published Thursday, D.A. Davidson & Co. analyst Jack Andrews reiterated a Neutral rating and $89.00 price target on

. In the report, D.A. Davidson & Co. noted, “FY2Q15 revenue of $186.8 million grew 73.7% from last year, well above our estimate of $178.2 million and the Street consensus of $177.5 million. Billings of $206.3 million climbed 56.0% year-over-year (YoY) and beat our estimate of $200.4 million. Although billings were down $1.8 million sequentially, this was largely expected as management indicated on the FY1Q15 call that $15-$20 million in FY1Q15 billings were moved up from deals expected in FY2Q15 or later. Non-GAAP EPS came in at a loss of $0.11 vs. our estimate of a loss of $0.13 and the Street at a loss of $0.14.” Workday closed on Wednesday at $90.30.