Needham analyst Scott Berg has maintained their bullish stance on WDAY stock, giving a Buy rating today.
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Scott Berg has given his Buy rating due to a combination of factors, including Workday’s solid financial performance in the third quarter. The company’s revenue slightly exceeded expectations, and its growth in current remaining performance obligations (cRPO) was at the high end of its guidance, indicating strong sales momentum, particularly in the EMEA and APAC regions.
Furthermore, Workday’s AI solutions have been a significant growth driver, contributing to an increase in cRPO. The introduction of Flex Credits is expected to further boost AI adoption in the future, providing customers with more flexibility to explore Workday’s AI capabilities. Management’s reaffirmation of its FY27 subscription revenue growth outlook also supports the positive assessment, aligning with the firm’s growth strategy.
In another report released today, Jefferies also maintained a Buy rating on the stock with a $325.00 price target.