Analysts at Oppenheimer provided their views on Workday, Inc. (NASDAQ:WDAY) following their meeting with the company’s management last week.
The analyst left the meeting feeling comfortable with the company’s demand, add-on products’ momentum, installed-base monetization motion, and durable growth and margins.
Despite the sell-off in software stocks this year and concerns around the macro risks, the analysts view the company as well-positioned to benefit from continued strength in its core markets and expect it to continue to show solid business trends as it penetrates the financials and HCM markets, and expands within the installed-base.
The analysts maintained their outperform rating and $190 price target on the company’s shares.