These Analysts Boost Their Forecasts On Workday Following Strong Earnings

Workday, Inc. WDAY reported upbeat earnings results for its third quarter on Tuesday.

Workday posted earnings of $1.56 per share, beating market estimates of $1.41 per share. Revenue of $1.87 billion topped the analyst consensus estimate of $1.848 billion, according to Benzinga Pro.

Workday said it sees fourth-quarter subscription revenue to be $6.598 billion while adjusted operating margins were estimated to be 23.8%

Workday shares gained 8% to $256.28 in pre-market trading.

These analysts made changes to their price targets on Workday following earnings announcement.

• Piper Sandler increased the price target on Workday from $275 to $300. Piper Sandler analyst Brent Bracelin maintained an Overweight rating.
• Needham boosted the price target on Workday from $250 to $300. Needham analyst Scott Berg maintained a Buy rating.
• Barclays raised the price target on Workday from $249 to $274. Barclays analyst Raimo Lenschow maintained an Overweight rating.
• JP Morgan increased the price target on Workday from $245 to $260. JP Morgan analyst Mark Murphy maintained an Overweight rating.
• Wells Fargo raised the price target on Workday from $280 to $300. Wells Fargo analyst Michael Turrin maintained an Overweight rating.
• Citigroup increased the price target on Workday from $236 to $270. Citigroup analyst Steven Enders maintained a Neutral rating.

Read This Next: Insiders Buying Retractable Technologies And 3 Other Penny Stocks