Workday Received its Third Buy in a RowBy Austin Angelo
After William Blair and Drexel Hamilton assigned a Buy rating to Workday in the last month, the company received another Buy, this time from Piper Jaffray. Analyst Alex Zukin upgraded Workday (NYSE: WDAY) to Buy today and set a price target of $100. The company’s shares closed yesterday at $85.50.
According to TipRanks.com, Zukin is a 4-star analyst with an average return of 8.9% and a 80.5% success rate. Zukin covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Tyler Technologies, and Callidus Software.
Currently, the analyst consensus on Workday is Moderate Buy and the average price target is $84.19, representing a -1.5% downside.
In a report issued on February 7, Drexel Hamilton also reiterated a Buy rating on the stock with a $104 price target.
Based on Workday’s latest earnings report for the quarter ending October 31, the company posted quarterly revenue of $409 million and GAAP net loss of $114 million. In comparison, last year the company earned revenue of $323 million and had a GAAP net loss of $81.13 million.
Based on the recent corporate insider activity of 143 insiders, corporate insider sentiment is negative on the stock. Most recently, in December 2016, Michael M. McNamara, a Director at WDAY sold 34,000 shares for a total of $2,342,260.
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Workday, Inc. engages in the provision of enterprise cloud applications for finance and human resources. It delivers financial management, human capital management and analytics applications designed for the world’s largest companies, educational institutions, and government agencies. It operates under one segment; cloud applications. The company was founded by David A. Duffield and Aneel Bhusri in March 2005 and is headquartered in Pleasanton, CA.