Workday price target lowered to $290 from $295 at JPMorgan

JPMorgan analyst Mark Murphy lowered the firm’s price target on Workday (WDAY) to $290 from $295 and keeps an Overweight rating on the shares. The firm says that while Workday’s fiscal Q2 backlog and results came in above consensus, investors may be disappointed that its guidance was reaffirmed rather than raised in organic terms. Higher fiscal 2026 revenue guidance is driven by the Paradox acquisition, the analyst tells investors in a research note.