Scott Berg, an analyst from Needham, maintained the Buy rating on Workday (WDAY – Research Report). The associated price target remains the same with $300.00.
Scott Berg has given his Buy rating due to a combination of factors that highlight Workday’s strategic advancements and market position. The company has been enhancing its integration capabilities, particularly through initiatives like Extend and Built for Workday, which have been emphasized in their recent strategic meetings. These efforts are aimed at deepening partnerships and improving functionality, especially in sectors such as higher education, healthcare, local government, and non-profits.
Furthermore, Workday has made significant improvements in its Student product, notably by addressing previous shortcomings in its Financial Aid module. This has made the product more competitive in the market. Additionally, there is a noted demand for Workday’s offerings, as evidenced by steady implementation timelines and customer interest in reducing these timelines, indicating a strong market demand for their solutions. Despite these positive indicators, it’s important to note that the expert insights are based on specialized fields, which may not fully represent the broader market scenario.
Berg covers the Technology sector, focusing on stocks such as Salesforce, SPS Commerce, and Workday. According to TipRanks, Berg has an average return of -6.5% and a 37.88% success rate on recommended stocks.
In another report released on March 17, Scotiabank also maintained a Buy rating on the stock with a $305.00 price target.