Workday price target raised to $305 from $300 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Workday to $305 from $300 and keeps a Buy rating on the shares following the analyst day. The company reiterated its mid-term growth of 15% and operating target of 30%, in line with Street expectations, while updating its fiscal 2027 free cash flow guide to 30% margin from 25% prior, the analyst tells investors in a research note. The firm believes these updated targets are achievable and beatable if the IT spending appetite improves.