NEW YORK (TheStreet) -- Shares of Workday (WDAY) - Get Report were rising in late-morning trade on Thursday after the company reported revenue for the 2016 second quarter that beat analysts' estimates.
Following the report, analysts at William Blair said the Pleasanton, CA-based cloud computing company had "solid" results and remains a top pick, according to a note cited by the Fly.
There was "considerable investor fear" going into Workday's second-quarter report, William Blair notes, but the company's results highlighted an acceleration in its subscription billings for the quarter.
The firm said Workday has the potential to beat consensus estimates for 35% subscription revenue growth in fiscal 2018.
This past quarter, subscription revenues gained by 37% to $306.2 million.
Additionally, Baird upped its price target on Workday stock to $95 from $85 and maintained an "outperform" rating this morning in a note cited by the Fly.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "sell" with a ratings score of D+.
The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.
You can view the full analysis from the report here: WDAY