Analyst Keith Weiss from Morgan Stanley maintained a Hold rating on Workday and keeping the price target at $185.00.
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Keith Weiss has given his Hold rating due to a combination of factors that balance improving fundamentals with a still‑full valuation. He notes that Workday’s latest quarter showed the strongest Q1 net new ACV growth in five years, alongside better‑than‑expected subscription backlog expansion and a higher non‑GAAP operating margin outlook, supported by rising organic AI adoption and tangible efficiency gains from internal AI use.
At the same time, he argues that investors will likely need more than a single quarter of outperformance to gain conviction that this inflection is durable, especially given recent concerns around growth sustainability and margin defensibility. With the stock already pricing in much of the upside and downside risk appearing limited at current levels, he maintains an unchanged $185 price target and sees a risk‑reward profile that justifies a neutral, Hold stance rather than a more aggressive rating change.
Weiss covers the Technology sector, focusing on stocks such as Intuit, Microsoft, and ServiceNow. According to TipRanks, Weiss has an average return of 8.3% and a 58.42% success rate on recommended stocks.
In another report released today, Jefferies also maintained a Hold rating on the stock with a $140.00 price target.