Oppenheimer raises Workday stock price target to $220 on AI momentum

Oppenheimer increased its price target for Workday shares (NASDAQ:WDAY) to $220 from $165 as the company's momentum in AI products and stable demand continue to outperform. Despite the stock currently trading at $200, investing analysis indicates Workday remains undervalued with a Fair Value estimate. Analyst Ken Wong highlighted factors such as strong gross profit margins of 75.77% and impressive returns of 53.58% over six months, which underscore the company's operational efficiency.

With a strong presence among Fortune 500 companies, Workday's platform value and its introduction of AI through Universal Main Subscription Agreements have bolstered investor confidence. The company's upcoming second-quarter earnings report on August 27, 2026, is expected to reaffirm its fiscal 2027 financial targets, with private equity deal talks potentially providing additional support for valuation multiples.