Workday Inc Gets a Hold Rating from Cowen & Co.

By Austin Angelo

Cowen & Co. analyst Derrick Wood reiterated a Hold rating on Workday Inc (NYSE: WDAY) yesterday and set a price target of $100. The company’s shares closed yesterday at $108.51, close to its 52-week high of $111.45.

According to TipRanks.com, Wood is a 5-star analyst with an average return of 16.4% and a 82.9% success rate. Wood covers the Technology sector, focusing on stocks such as Microstrategy Inc, Informatica Corp, and Citrix Systems.

Currently, the analyst consensus on Workday Inc is Moderate Buy and the average price target is $109.56, representing a 1.0% upside.

In a report issued on October 2, Jefferies also reiterated a Hold rating on the stock with a $106 price target.

Based on Workday Inc’s latest earnings report for the quarter ending July 31, the company posted quarterly revenue of $525 million and GAAP net loss of $82.53 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.