In a report released today, Bradley Sills from Bank of America Securities reiterated a Buy rating on Workday, with a price target of $278.00.
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.
Bradley Sills has given his Buy rating due to a combination of factors that suggest a positive outlook for Workday. Despite not expecting the upcoming Q2 earnings to be a significant catalyst, Sills highlights that the current valuation and expectations present limited downside risk. The company’s valuation metrics are favorable compared to its large-cap software peers, indicating potential for growth.
Moreover, Sills notes that channel commentary points to healthy pipeline builds for key growth initiatives, such as international and platform deals, which are expected to enhance growth prospects in the second half of the year. Additionally, Workday’s ability to leverage recent investments and manage a solid free cash flow growth rate of over 20% supports the Buy rating. The company’s balanced growth strategy and consistent pipeline builds further reinforce the positive outlook for its future performance.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $259.00 price target.