BofA resumes coverage on Workday, citing its role as a critical system of record for enterprise software clients.
Bank of America resumed coverage on Workday (WDAY) with a Neutral rating and a $140 price target. The firm highlighted Workday’s position as a mission-critical system of record for back-office software, emphasizing its entrenched market presence.
Workday’s stock has seen volatility in recent months amid broader tech sector trends and enterprise spending shifts. The $140 target reflects a modest upside from current levels, aligning with consensus estimates for steady growth in cloud-based HR and financial management solutions.
No immediate market reaction was reported following the rating initiation.