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Fly News Breaks for August 27, 2015
WDAY
Aug 27, 2015 | 07:17 EDT
Jefferies analysts John DiFucci and Brad Zelnick noted that Workday reported Q2 results that topped expectations, but attribute its "disappointing" guidance to shorter billings duration and greater seasonality, which they say are coming from the rising competition the company is facing. The analysts believe the company's longer-term prospects are sound but expect volatility in its shares in the near-term and kept a Hold rating on the stock while lowering their price target for Workday shares to $83 from $92.
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