Workday (WDAY +2.7%) is closing with a solid gain after FBR's David Hilal launches coverage with...

|About: Workday (WDAY)|By:, SA News Editor

Workday (WDAY +2.7%) is closing with a solid gain after FBR's David Hilal launches coverage with a Market Perform and $64 PT. Though Hilal isn't a fan of Workday's "premium valuation," many others on the Street have aired similar concerns. Thus, investors are focusing on Hilal's expectations for strong growth thanks to still-rising penetration for Workday's core cloud HR software, the cross-selling of financial and other software, product line expansion, international expansion, and a growing distributor base.