Jefferies analyst John DiFucci lowered his price target for Workday (WDAY) to $65 saying the company's new subscription Annual Contract Value declined 32% year-over-year in Q4. The analyst believes SAP (SAP) and especially Oracle (ORCL) continue to practice "hyper aggressive" strategies against Workday in the market. He points out, however, that Workday 's FY17 guidance implies new subscription ACV growth will accelerate. DiFucci keeps a Hold rating on the shares.
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