Needham Affirms Workday Inc. (WDAY) ‘Buy’ Rating on Growth Bounce Back

Workday, Inc. (NASDAQ:WDAY) is one of the best tech stocks to buy for the long term. On September 9, Needham reiterated a Buy rating and a $300 price target. The research firm remains bullish about the company even as it expects it to lower its fiscal year 2027 subscription revenue growth from 15% to 13%.

Needham Affirms Workday Inc. (WDAY) ‘Buy’ Rating on Growth Bounce Back

The research firm attributes the expected slower growth rate to slowdowns in Enterprise Resource Planning (ERP) migrations. Amid the expected slower growth, Needham expects Workday to raise its operating margin target from the current 30%.

The firm has also echoed Workday’s long-term strategy of focusing on revitalizing growth through the integration of artificial intelligence and pursuing strategic partnerships.

Workday, Inc. is a technology company that provides cloud-based software (SaaS) for businesses to manage their finance and human resources functions, including financial management, human capital management (HCM), planning, and payroll.

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This article is originally published at Insider Monkey.