Cantor Fitzgerald Reiterates Overweight on Workday (WDAY) With $280 Target After Q3 Earnings

Workday, Inc. (NASDAQ:WDAY) is one of the AI Stocks on the Market’s Radar. On November 26, Cantor Fitzgerald analyst Matthew VanVliet reiterated an Overweight rating on the stock with a $280.00 price target. The rating affirmation follows WDAY’S third-quarter fiscal 2026 results.

Workday’s shares slipped following its Q3 results as it failed to impress Wall Street. Despite announcing several AI agents and expanded offerings through acquisitions, many analysts ended up lowering their price targets citing a lack of upside.

“Investors were likely looking for more of a beat-and-raise quarter.” -Cantor Fitzgerald analysts Matt VanVliet and Mason Marion.

The new number, they noted, “borders on a slight guide down,” at $280.

Overall, the company reported better-than-expected performance across key metrics, with total revenue, operating margin, and earnings per share all topping consensus estimates. Subscription revenue also beat expectations by $9 million, a 0.4% upside to analyst projections.

Meanwhile, current remaining performance obligations (cRPO) growth was 17.7%, slightly above the previous 16% when excluding the Paradox acquisition. This performance came in at the high end of the company’s 15-16% guidance range, a figure that had already incorporated an estimated 1 percentage point benefit from Tenant inclusion.

Current subscription bookings increased 19% year-over-year, or about 14% if excluding the $100M cRPO impact from Paradox. This marks a deceleration from the 16.8% growth recorded in the previous quarter due to tougher comps.

Operating margin was 28.5%, topping the consensus estimate of 28.1%. This contributed to earnings per share of $2.32 versus the expected $2.16.

Workday, Inc. (NASDAQ:WDAY) provides enterprise cloud applications.

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