Workday price target lowered to $285 from $314 at BMO Capital

BMO Capital lowered the firm’s price target on Workday (WDAY) to $285 from $314 but keeps an Outperform rating on the shares. The company’s results generally showed a continuation of recent trends, with solid expense execution and slightly better cRPO growth in an uneven macro environment, offset by a slightly more cautious implied second half organic top-line guide, the analyst tells investors in a research note. The acquisition of Paradox could also be a helpful contributor to improving Workday’s recruiting solutions and as part of a broader effort to strengthen the platform with customers who have higher velocity hiring, BMO added.