Cantor Fitzgerald Has Positive Outlook For Workday

In a report published Tuesday, Cantor Fitzgerald analyst Brian J. White reiterated a Buy rating and $121.00 price target on Workday Inc (NYSE: WDAY).

In the report, Cantor Fitzgerald noted, “Today, Workday kicks off Workday Rising 2014 in San Francisco with an opening executive keynote address scheduled for Tuesday morning, followed by a guest keynote on Wednesday and more than 300 breakout sessions during the week (11/3-11/6). Although analysts and investors were not invited to this year's event given that Workday is currently in its quiet period, with the company's October quarter earnings call scheduled for later this month, we expect important announcements from the company this week and positive vibes around Workday's momentum in the market. Additionally, we will be attending a broader-based cloud conference this week. We continue to believe that Workday represents one of the best next-generation cloud plays for investors in the market today and has the potential to become a sizeable company over the next decade.”

Workday closed on Tuesday at $95.63.