Workday (WDAY) PT Raised to $160 at Cowen

Cowen analyst J. Derrick Wood raised the price target on Workday (NASDAQ: WDAY) to $160.00 (from $145.00) while maintaining a Market Perform rating.

Wood commented, "Consistent with our preview, WDAY reported a solid qtr with est. ST sub billings growth of 43% coming in ahead of our 34% estimate. The qtr benefited from some deals pulling in from 4Q to 3Q, but 4Q billings guidance was in-line with consensus. We continue to believe WDAY's growth momentum is seeing some improvements but at >10x EV/CY19E Sales we feel its mostly priced in"

You May Also Be Interested In

• Dollarama Inc. (DOL:CN) (DLMAF) PT Raised to Cdn$236 at Bernstein SocGen Group
• B.Riley Starts Nokia (NOK) at Buy, 'attractive valuation entry point'
• Investec Double Upgrades Supreme Industries (SI:IN) to Buy