Workday Inc. (NYSE: WDAY) reported its fiscal fourth-quarter financial results on Monday after the markets closed, and so far the company has received a good reaction from investors. However, while analysts across the board have kept a somewhat positive view on the stock, they are definitely trimming back their price targets. We have included some highlights from the earnings report and then a montage of what analysts are saying after the report.

The company reported a net loss of $0.01 per share on $323.4 million in revenue. That compares to consensus estimates of a net loss of $0.04 per share on revenue of $319.5 million. The same period from last year had a net loss of $0.06 per share on $226.3 million in revenue.

Operating cash flows were $258.6 million and free cash flows were $125.0 million. On the books, the company had cash, equivalents and marketable securities totaling $1.97 billion at the end of the quarter, compared to $1.86 billion in the same period last year.

Aneel Bhusri, co-founder and CEO of Workday, commented on earnings:

We ended FY16 on a high note with a very strong fourth quarter across product lines and around the world. Demand for our Financial Management and HCM products continues to rise, as do our competitive win rates. The year ahead brings us an expanded addressable market with the delivery of Planning, Learning Management and Student applications that allow customers to drive employee engagement and productivity in new and transformative ways.

After the company released its earnings report a few analysts revised their calls on it:

• Canaccord Genuity reiterated a Buy rating with a $75 price target.
• Citigroup has a Buy rating and raised its price target to $76 from $67.
• Cross Research upgraded it to Buy from Hold.
• Drexel Hamilton has a Buy rating but lowered the price target to $88 from $103.
• FBR has an Outperform rating and lowered its price target to $80 from $90.
• Jefferies has a Hold rating and lowered its price target from $83 to $65.
• JPMorgan upgraded it to Overweight from Neutral with an $85 price target.
• Needham has a Buy rating and lowered the price target to $80 from $92.
• Oppenheimer has an Outperform rating and lowered its price target to $80.
• Pacific Crest has an Overweight rating and lowered its price target from $100 to $76.

Shares of Workday were trading up 8.8% at $65.79 on Tuesday, with a consensus analyst price target of $80.47 and a 52-week trading range of $47.32 to $93.62.

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