Key Points:
- Piper Sandler downgrades Workday (WDAY, Financial) due to concerns over reduced enterprise software investments.
- Despite the downgrade, average analyst price targets suggest significant upside potential.
- GuruFocus estimates show a 33.7% upside based on GF Value projections.
Piper Sandler's Downgrade and Analyst Perspectives
Piper Sandler recently downgraded Workday Inc. (WDAY) from Neutral to Underweight, citing worries over waning investments in enterprise software. The firm's revised price target stands at $235, down from the previous target of $255. Despite this cautious stance, a majority of analysts remain optimistic, continuing to rate Workday as a Buy.
Wall Street Analysts' Outlook
According to projections from 35 analysts, the average one-year price target for Workday Inc (WDAY, Financial) is $295.73. This estimate includes a maximum target of $340 and a minimum of $235. If the average target is realized, it indicates a potential upside of 28.18% from the current trading price of $230.71. Further insights and data are available on the Workday Inc (WDAY) Forecast page.
Furthermore, the collective recommendation from 41 brokerage firms places Workday with an average rating of 2.1, categorizing it as "Outperform." The rating scale ranges from 1 (Strong Buy) to 5 (Sell), reinforcing a generally positive sentiment surrounding the stock.
GuruFocus Valuation Insights
Utilizing GF Value estimates, GuruFocus projects a one-year target price for Workday at $308.45. This suggests a substantial potential upside of 33.7% from the current price of $230.71. The GF Value metric is an assessment of the stock's fair value, derived from historical price multiples, past business growth, and future performance forecasts. Additional detailed data can be accessed via the Workday Inc (WDAY, Financial) Summary page.
