Deutsche Bank upgraded Workday (WDAY) to Buy from Hold with a price target of $300, up from $265, in a research note titled ‘Rotating Preferences in Back Office Apps.’ The firm said it remains constructive on the secular growth opportunity in Back Office applications, but sees it being challenged this year relative to other areas of software. Deutsche Bank added that, outside of forced cloud migrations, it expects budget to gravitate to platform vendors that are benefitting from an AI Halo effect, and as a result sees limited upside to estimates across back office versus front office apps.
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Read More on WDAY:
- Workday upgraded to Buy from Hold at Deutsche Bank
- Workday upgraded to Neutral at Guggenheim on reinvigorated growth
- Workday upgraded to Neutral from Sell at Guggenheim
- Workday price target raised to $320 from $300 at RBC Capital
- Workday price target raised to $320 from $290 at Wolfe Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
