Workday price target raised to $340 from $320 at RBC Capital

RBC Capital raised the firm’s price target on Workday (WDAY) to $340 from $320 and keeps an Outperform rating on the shares. The company reported a solid Q4 and reiterated subscription revenue guidance, with outperformance coming ahead of recent trends but somewhat driven by services and early renewals, the analyst tells investors in a research note. RBC adds it was encouraged by early AI adoption trends and momentum with the partner network.