As reported earlier, Needham analyst Scott Berg upgraded Workday to Buy from Hold with a $130 price target. Berg points to the recent industry checks suggesting improved sales for the company's Financials platform, further noting that the company's valuation is dependent on sustained growth in that segment. The analyst believes that this growth is sustainable heading into FY19, particularly "in the lower end of the enterprise segment where there is a high volume of potential deals". Berg further cites bookings upside and visibility into the company's free cash flows in FY19.