RBC Capital Believes Workday Inc (NYSE: WDAY) Won’t Stop Here

By Carrie Williams

RBC Capital analyst Ross MacMillan reiterated a Buy rating on Workday Inc (NYSE: WDAY) on August 25 and set a price target of $116. The company’s shares closed on Friday at $103.57, close to its 52-week high of $106.75.

According to TipRanks.com, MacMillan is a top 25 analyst with an average return of 21.8% and a 80.8% success rate. MacMillan covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Intralinks Holdings, and Verint Systems Inc.

Currently, the analyst consensus on Workday Inc is Moderate Buy and the average price target is $105.05, representing a 1.4% upside.

In a report issued on August 21, Piper Jaffray also reiterated a Buy rating on the stock with a $115 price target.

Based on Workday Inc’s latest earnings report for the quarter ending April 30, the company posted quarterly revenue of $480 million and GAAP net loss of $64.04 million. In comparison, last year the company earned revenue of $378 million and had a GAAP net loss of $108 million.

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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. The company was founded by David A.