Shares of Workday Inc (NASDAQ:WDAY) climbed in early trading on Friday, after the company reported upbeat first-quarter results.
Here are the key analyst insights:
- Needham analyst Scott Berg maintained a Buy rating, while slashing the price target from $300 to $180.
- BTIG analyst Allan Verkhovski reiterated a Buy rating and price target of $175.
Check out other analyst stock ratings.
Needham: Workday reported revenue of $2.54 billion and earnings of $2.66 per share. It topped estimates of $2.52 million and $2.49 per share, respectively. Subscription revenue growth of 14.3% propelled total revenue growth 13.5%. Subscription cRPO (current remaining performance obligations) grew to $8.81 billion. This was a deceleration to 15.5% year-on-year, from 15.8% growth in the previous quarter.
The stock climbing after the release of quarterly results “feels more like a relief rally against a low bar since cRPO midpoint outperformance was better than a not-good-4Q,” …