On August 28, Workday rose 5.32% in regular trading, trading at $203.45/share, with turnover of $515 million. The stock rebounded sharply from initial post-earnings weakness as Wall Street analysts broadly raised price targets following strong Q2 results.

Workday reported fiscal Q2 adjusted EPS of $2.75, beating the consensus estimate of $2.61 by 5.4%, while revenue of $2.649 billion also topped the $2.636 billion forecast. Subscription revenue grew 14% year-over-year. The company also announced a $4 billion share buyback authorization. Although FY27 subscription revenue guidance was only marginally raised to $9.94-$9.95 billion, multiple investment banks responded positively.

JP Morgan raised its price target from $190 to $225, Barclays lifted its target from $200 to $224, and Jefferies set a $225 target. Cantor Fitzgerald adjusted to $205 while maintaining an overweight rating. Capital One downgraded to equalweight but still raised its target to $219. The CFO noted FY28 subscription revenue growth targets are consistent with approximately 11% expected growth in the second half of FY27.

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