Market Overview

UPDATE: Stifel Nicolaus Initiates Workday at Hold on Valuation

Share:
Related
Tableau's Market Opportunity Is Gradually Being Eroded By More Heavyweight Enterprise Software Players
Salesforce Benefiting From Compounding Effect As Profitability Finally Following Top-Line
InsiderInsights.com Daily Round Up 3/21/17: VIVE, TRNC, FSC, SRG (Seeking Alpha)

Stifel Nicolaus initiated coverage on Workday (NYSE: WDAY) with a Hold rating.

Stifel Nicolaus noted, "We are initiating coverage of Workday, Inc. (WDAY) with a Hold rating on the shares, given we believe current valuation accurately reflects the substantial growth opportunity the company has in front of it, as it executes on its vision of disrupting the traditional on-premise enterprise-resource-planning market. We believe we are in the earliest stages of Workday's growth story and the recent strength it has experienced will continue, as companies increasingly trust more and more of their internal applications to Workday. … That said, with the shares trading at 10.5x our CY14 (FY15) revenue and 8.8x our CY14 billings estimates, we believe much of the good news is already priced in and we await a better entry point."

Workday closed at $50.48 on Monday.

Latest Ratings for WDAY

DateFirmActionFromTo
Mar 2017Bank of AmericaInitiates Coverage OnBuy
Mar 2017BernsteinDowngradesOutperformMarket Perform
Feb 2017CitigroupDowngradesNeutralSell

View More Analyst Ratings for WDAY
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Initiation Intraday Update Analyst Ratings

 

Related Articles (WDAY)

View Comments and Join the Discussion!