Cantor Fitzgerald analyst Matthew Vanvliet initiated coverage of Workday (WDAY) with an Overweight rating and $265 price target as part of a broader research note launching coverage on select Human Capital Management – HCM – names. Covid drove a sharp acceleration across the industry, but since 2022, HCM battled a “hangover”, with estimates being repeatedly lowered, the analyst tells investors in a research note. Cantor notes however that it sees the industry having settled into a “new normal” as estimates reset to reasonable levels and with valuation multiples “undemanding”. The firm contends that while the “hangover” could last until 2027, the firm sees a “reasonable” risk-reward.
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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WDAY:
- Workday initiated with an Overweight at Cantor Fitzgerald
- Workday price target lowered to $250 from $285 at UBS
- Cautious Hold Recommendation for Workday Amidst Competitive Pressures and Economic Challenges
- Roth cuts Insperity price target, recommends ‘aggressive’ buying of shares
- Buy/Sell: Wall Street’s top 10 stock calls this week