Workday (NASDAQ:WDAY) Rating Increased

In a note revealed to clients on Monday morning, Needham stated it was upgrading Workday (NASDAQ:WDAY) Stock from a Hold to a Buy. The firm has $130.0 target price per share on WDAY’s stock.

The rating upgrade is welcomed by stock investors, as NASDAQ:WDAY is right now trading 0.19% higher at $116.36 as of 6:06 AM New York time. Workday’s stock is 0% over the past 200 days. It has underperformed the S&P 500, which has increased 6.00% over the same time.

According to data compiled by Thomson Reuters, Workday (NASDAQ:WDAY)’s stock is covered by 34 equity analysts across the Street, with 2 analysts giving it a Sell rating, 19 a Buy rating, while 15 consider it a Hold. The 12-month consensus target price for the stock is $78.94, which reflects an downside potential of 32.16% over the current price.

Institutional Ownership

Scge Management L.P. had the biggest stake with ownership of 450,000 shares as of q2 2015 for 11.49% of the stock exposure. Allen Operations Llc is another quite bullish fund who is possessing 111,992 shares of Workday or 11.02% of their stock exposure. Further, Tybourne Capital Management Hk Ltd have 10.97% of their stock exposure invested in the company for 2.40M shares. The California-based fund Glynn Capital Management Llc revealed it had purchased so far a stake worth about 7.93% of the fund’s stock portfolio in Workday. The California-based fund Criterion Capital Management Llc is also positive about the stock, possessing 273,779 shares or 7.81% of their stock exposure.

Workday (NASDAQ:WDAY) Profile

Workday, Inc. is a provider of enterprise cloud applications for finance and human resources. The Company delivers financial management, human capital management and analytics applications designed for various companies, educational institutions and government agencies. As part of its applications, the Company provides embedded analytics that capture the content and context of everyday business events, facilitating informed decision-making from wherever users are working.

Workday (NASDAQ:WDAY) traded up 0.19% on 12 February, hitting $116.36. A total of 375,758 shares of the company’s stock traded hands. This is down from average of 1.24 million shares. Workday has a 52 week low of $65.79 and a 52 week high of $116.89. The company has a market cap of $24.20 billion and a P/E ratio of 0.

Get the latest Workday (NASDAQ:WDAY) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

The post Workday (NASDAQ:WDAY) Upgraded to Buy Rating With $130.0 Target at Needham from Hold Rating appeared first on Octafinance.