Workday price target raised to $305 from $275 at KeyBanc

KeyBanc raised the firm’s price target on Workday to $305 from $275 and keeps an Overweight rating on the shares following “solid” Q2 earnings results. KeyBanc noted that Workday updated its MT framework, now expecting ~15% subscription revenue growth, down from 17%-19% previously, in FY26-27, and sees operating margin reaching 30%, up from 25%, over the same period. The firm sees the company’s greater emphasis toward margin expansion as a “positive.”