Workday price target raised to $255 from $240 at Loop Capital

Loop Capital analyst Yun Kim raised the firm’s price target on Workday to $255 from $240 and keeps a Hold rating on the shares following the quarterly results. While Loop appreciates management’s disciplined approach to its growth strategy in the face of slowing growth prospects, there is an increased risk related to the company’s ability to go after the massive TAM around displacing legacy financial applications in the market, the analyst tells investors in a research note.