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Fly News Breaks for October 18, 2018
MDSO
Oct 18, 2018 | 19:07 EDT
JPMorgan analyst Sterling Auty lowered his price target on Medidata to $74 and kept his Neutral rating after the company's Q3 subscription revenue came in lower than he expected. The analyst also cites Medidata's commentary regarding "unpredictability" of its billings and collections. Auty states that the company's next quarter will be "very important", with major enterprise renewals set to "dictate what the subscription growth rate will look like in 2019".
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