Morgan Stanley raised the firm’s price target on Workday (WDAY) to $280 from $255 and keeps an Equal Weight rating on the shares. Workday printed a “solid” Q3 report, but while an accelerated M&A strategy well leverages core assets and “adds to the AI toolkit,” it does little to improve investor sentiment on the durability of growth, says the analyst, who thinks an outsized beat in cRPO “likely gets discounted by investors for being M&A driven.”
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Read More on WDAY:
- Workday price target lowered to $240 from $250 at UBS
- Workday price target lowered to $320 from $340 at RBC Capital
- Workday’s Growth Potential and Stability: A Buy Rating Supported by Strategic Acquisitions and AI Advancements
- Workday’s Strong Q3 Performance and AI-Driven Growth Justify Buy Rating Despite cRPO Concerns
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