Workday price target lowered to $250 from $285 at Loop Capital

Loop Capital lowered the firm’s price target on Workday (WDAY) to $250 from $285 and keeps a Hold rating on the shares. The company reported “lackluster” top-line results and its largely in-line Q2 guidance suggest that its business remains pressured but largely stabilized at the current level, the analyst tells investors in a research note. Q1 cRPO growth came in just slightly above its guidance range with the help from greater than expected contribution from “tenant” contracts that were not included in its initial cRPO guidance, Loop added.