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Fly News Breaks for May 24, 2019
ORCL, WDAY
May 24, 2019 | 07:39 EDT
JMP Securities analyst Patrick Walravens said his checks with Workday (WDAY) partners and other industry sources suggests that the tone of business is "really, really good," with his sources indicating that Workday has been succeeding in closing big deals, including a potentially "very large" deal for a new HRIS system for a U.S. state. Additionally, he was told that Workday is replacing Oracle's (ORCL) NetSuite at "a high-profile, $300+ million, pre-IPO technology company," Walravens noted. Following the checks, he slightly increased his Q1 EPS estimate and keeps an Outperform rating and $220 price target on Workday ahead of its Q1 report due on May 28.
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