Analysts mostly raised their price targets on Workday Inc. post Q4 results. Wells Fargo analyst Michael Turrin raised the PT to $340 from $325 (39.1 percent upside) and kept an Overweight. Turrin expects Workday shares will see a boost from Q4 results as the company delivered a clean set of Q4 metrics and a meaningful increase to the FY23 guidance. Mizuho analyst Siti Panigrahi raised the PT to $300 from $280 (22.8 percent upside) and kept a Buy. The company posted “overall stellar” Q4 results and “aired credible optimism” on its fiscal 2023 prospects, with guidance exceeding consensus expectations. The analyst would not be surprised to see further upside as fiscal 2023 progresses. Loop Capital analyst Yun Kim lowered the PT to $300 from $340 but kept a Buy. The analyst attributes the price change to lower cash flow estimates but notes that the quarter was otherwise strong, with subscription backlog growth accelerating to 22 percent. …
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