KeyBanc analyst Michael Turits lowered the firm’s price target on Workday to $195 from $207 and keeps an Overweight rating on the shares ahead of earnings. The analyst is also modestly lowering his 2023/2024 outlook, given worsening macro, concerns about Backoffice de-prioritization, slowing cloud, and some weakness in recent channel conversations, despite positive input from contacts at Workday Rising earlier in the quarter. That said, Turits continues to see several near-term and long-term drivers in HCM and Financial modernization projects.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on WDAY:
- Workday Stock Jumps after Earnings Beat
- Workday Announces Fiscal 2023 Third Quarter Financial Results
- Jim Cramer Says These 2 Cloud Stocks Could Rebound as Soon as the Fed Slows Down Its Tightening Path
- Hedge Fund Point 72 Builds Position in These Stocks; Should You?
- Jefferies software analysts to hold an analyst/industry conference call
Questions or Comments about the article? Write to editor@tipranks.com