On June 26, Workday rose 5.26% in regular trading, trading near $120.45/share, with turnover of approximately $112 million. The rally was driven by Monness Crespi & Hardt upgrading Workday's rating from Neutral to Buy, setting a $150 price target that implies roughly 25% upside from current levels.
The upgrade comes as Wall Street maintains an average Overweight rating on the stock with a consensus target price of $173.56. The bullish sentiment is underpinned by Workday's strong fiscal Q1 results reported in May, which showed adjusted EPS of $2.66 beating the $2.51 estimate by nearly 6%, while revenue of $2.54 billion grew 13.4% year-over-year. AI agent adoption doubled quarter-over-quarter to more than 4,000 customers, and net new annual contract value reached its highest level in five years, with agentic AI product revenue growing over 200% year-over-year.
Despite the positive momentum, some analysts remain cautious. BofA Securities recently reinstated coverage with a Neutral rating at $140, citing value compression risks from seat-based monetization pressures and limited near-term catalysts.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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