Citi analyst Steve Enders maintained a Hold rating on Workday yesterday and set a price target of $247.00.
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Steve Enders has given his Hold rating due to a combination of factors, including Workday’s mixed quarterly performance and reduced forward outlook. While the company modestly exceeded expectations on subscription revenue, free cash flow, and billings, the magnitude of the outperformance was relatively small, suggesting only limited near‑term upside.
At the same time, management cut its fiscal 2027 subscription revenue and operating margin guidance below consensus, raising concerns about growth durability and profitability leverage. Enders also highlights lingering uncertainties around demand trends, the impact of leadership changes, AI monetization, and competitive pressures, all of which warrant a more neutral stance on the shares for now.
According to TipRanks, Enders is an analyst with an average return of -9.3% and a 40.00% success rate. Enders covers the Technology sector, focusing on stocks such as Pegasystems, Workday, and Paylocity.
In another report released today, Evercore ISI also downgraded the stock to a Hold with a $160.00 price target.