Workday price target lowered to $125 from $250 at DA Davidson

DA Davidson analyst Lucky Schreiner lowered the firm’s price target on Workday (WDAY) to $125 from $250 and keeps a Neutral rating on the shares. The company reported just in-line results while providing guidance that missed expectations on both revenue and profitability, and while Workday remains a mission critical system of record, net new demand trends are volatile, the analyst tells investors in a research note. The firm is opting to stay on the sidelines “until organic demand show signs of stabilization”.