Market Overview

UPDATE: Stifel Nicolaus Initiates Workday at Hold on Valuation

Share:
Related
BMO 'Learned Some New Things' From Pershing Deep Dive Into ADP
A Preview Of An Important Upcoming Event: The William Blair Growth Stock Conference

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
Aug 2017BMO CapitalMaintainsMarket Perform
Jun 2017BTIG ResearchDowngradesBuyNeutral
Apr 2017Credit SuisseInitiates Coverage OnNeutral

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!