"Goldman Sachs analyst Heather Bellini added Workday Inc. shares WDAY, +2.44% to her company's "conviction list" Friday, citing valuation following Workday's stock underperformance relative to software peers. The stock is up 2.4% in Friday morning trading. "While investor concerns surrounding the pace of deceleration in HCM and a weaker-than-expected FY21 (CY20) subscription revenue guide have weighed on recent performance, our initial thesis remains intact and we think recent underperformance creates an even more attractive entry point for the stock," Bellini wrote. She thinks the stock can outperform peers this year "especially as we see a path for subscription revenue growth to accelerate in the back half of FY21 (CY20) as [comparisons] get easier." Bellini has a buy rating and $211 target on the shares, which have added 10% since her Oct. 11 upgrade as the iShares Expanded Tech-Software Sector ETF IGV, -0.14% has increased 21% and the S&P 500 SPX, -0.54% has risen 14%. "