Workday price target raised to $320 from $290 at Wolfe Research

Wolfe Research analyst Alex Zukin raised the firm’s price target on Workday (WDAY) to $320 from $290 and keeps an Outperform rating on the shares. Heading into 2025, the firm says it hasn’t been “this excited and inspired” for the software sector in a “long time.” The combination of improving fundamentals, easing regulatory environment, secular artificial intelligence tailwinds, and “open for business capital markets makes this an amazing time to not only be alive, but also cover software stocks,” the analyst tells investors in a research note.