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Investing.com - Bernstein SocGen Group has reiterated an Outperform rating on Workday (NASDAQ:WDAY) with a price target of $304.00. The company, currently valued at $58.5 billion, has demonstrated strong revenue growth of ~14% over the last twelve months, maintaining an impressive gross margin of ~76%.
The research firm maintains its positive outlook on the cloud-based enterprise software provider, citing Workday’s innovation and execution strategies aimed at generating growth from its large addressable market.
Bernstein believes Workday is leveraging multiple innovation and execution levers to capitalize on its market opportunities.
The firm noted that Workday’s balanced financial outlook for the near term, combined with its reset valuation, creates a favorable risk-reward trade-off for investors.
Workday provides enterprise cloud applications for financial management, human resources, planning, and analytics to organizations globally.
In other recent news, Workday has made significant announcements that have caught the attention of various analyst firms. Evercore ISI increased its price target for Workday to $300, maintaining an Outperform rating, citing the company’s strategic acquisitions and advancements in its core platform aimed at fostering growth in an AI-focused environment. BofA Securities reiterated a Buy rating with a $265 price target, highlighting Workday’s $1.1 billion acquisition of Sana and a new partnership with Microsoft, which involves integrating Azure AI Foundry into Workday’s Illuminate platform. KeyBanc maintained its Overweight rating with a $285 price target, noting Workday’s updated financial framework for fiscal year 2028, which includes a 12-15% subscription revenue growth rate and a 35% operating margin. JMP Securities also reiterated a Market Outperform rating with a $315 target, following their attendance at Workday’s recent events. Meanwhile, Piper Sandler upgraded Workday from Underweight to Neutral, raising the price target to $235, based on Workday’s increased focus on artificial intelligence initiatives. These developments reflect Workday’s strategic moves and financial projections, which are drawing varied reactions from investment firms.
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