Goldman Sachs analyst Kash Rangan raised the firm’s price target on Workday (WDAY) to $310 from $300 and keeps a Buy rating on the shares. The firm cites the company’s announcement of elimination of 1,750 positions or 8.5% of their current workforce, noting that in light of expectations for FY26 revenue deceleration, investors welcome clear progress towards their mid-term operating margin target of 30%, the analyst tells investors in a research note. Workday’s reprioritization of hiring in strategic areas like AI and platform development is a positive, the firm added.
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Read More on WDAY:
- Workday price target raised to $310 from $300 at Goldman Sachs
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- Workday workforce reduction could deliver more upside after RIF, says Jefferies
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- Workday Announces Major Restructuring and Growth Strategy
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