Monness analyst Brian White has maintained their neutral stance on WDAY stock, giving a Hold rating on July 29.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Brian White has given his Hold rating due to a combination of factors influencing Workday’s current market position. Despite the company’s efforts to introduce new AI innovations and improve efficiency, it faces significant competition and challenging macroeconomic conditions. These factors have contributed to Workday’s underperformance compared to its peers, with a notable decline in stock value over the past year.
Furthermore, while Workday is expected to achieve modest growth in revenue and subscription services, the growth rates are not significantly higher than previous periods. The company’s financial outlook for the upcoming quarters indicates stable but not exceptional growth, which aligns with the Hold rating. Overall, while Workday is making strides in innovation, the competitive landscape and economic uncertainties warrant a cautious approach, justifying the Hold recommendation.
According to TipRanks, White is a top 100 analyst with an average return of 17.1% and a 67.21% success rate. White covers the Technology sector, focusing on stocks such as Apple, Salesforce, and Workday.
In another report released on July 29, Citi also maintained a Hold rating on the stock with a $279.00 price target.