Workday Inc. could be primed well for its coming earnings report, according to an analyst.
Deutsche Bank analyst Brad Zelnick opened a bullish short-term catalyst call on the stock Tuesday, ahead of Workday’s WDAY next earnings report, which is scheduled for Feb. 27, after the closing bell. He expects “healthy” results for the fiscal fourth quarter.Deutsche Bank analyst Brad Zelnick opened a bullish short-term catalyst call on the stock Tuesday, ahead of Workday’s WDAY next earnings report, which is scheduled for Feb. 27, after the closing bell.
Additionally, he sees signs of “healthy deal activity, including some megadeals,” within large-enterprise clients. He called out wins in key categories like financial services and professional services. Zelnick noted that he has less visibility into Workday’s international business, “though what we’ve been hearing more generally sounds positive relative to modest expectations embedded in Street models.”Despite his short-term buy call on the stock ahead of the earnings report, he kept a hold rating on the stock over a longer span. Zelnick has a $195 target price on the stock, which was down 1.8% in midday trading Tuesday to a recent $182.41.
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