Workday (WDAY) Gets a Buy Rating from Oppenheimer

By Ryan Adsit

In a report released today, Brian Schwartz from Oppenheimer maintained a Buy rating on Workday (WDAYResearch Report), with a price target of $165.00. The company’s shares closed last Wednesday at $159.54.

According to TipRanks.com, Schwartz is a top 25 analyst with an average return of 29.6% and a 76.6% success rate. Schwartz covers the Technology sector, focusing on stocks such as RingCentral, Salesforce, and ServiceNow.

Workday has an analyst consensus of Moderate Buy, with a price target consensus of $180.30, which is a 13.0% upside from current levels. In a report issued on May 18, RBC Capital also maintained a Buy rating on the stock with a $194.00 price target.

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Based on Workday’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $976 million and GAAP net loss of $128 million. In comparison, last year the company earned revenue of $789 million and had a GAAP net loss of $104 million.

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Workday, Inc. engages in the development of enterprise cloud applications for finance and human resources. It delivers financial management, human capital management, and analytics applications designed for companies, educational institutions, and government agencies. The company was founded by David A. Duffield and Aneel Bhusri in March 2005 and is headquartered in Pleasanton, CA.