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Fly News Breaks for July 25, 2018
MDSO
Jul 25, 2018 | 07:17 EDT
As noted earlier, Needham analyst Scott Berg downgraded Medidata to Hold from Buy following its "disappointing" Q2 results and guidance, causing him to lower his organic subscription revenue growth expectations. The analyst points to billings and deferred revenue coming in "substantially below historical trends", suggesting that bookings were "either delayed or lost". Berg adds that the magnitude of those deviations was substantial enough to reset his growth expectations to mid-teens range.
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