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Fly News Breaks for August 27, 2015
WDAY
Aug 27, 2015 | 08:05 EDT
Piper Jaffray analyst Katherine Egbert noted that Workday reported better than expected Q2 revenue and an acceleration in its bookings, but she believes that neither will be enough to offset investors' reaction to the "weak" billings guidance the company gave for the second half. Egbert, who expects the uncertainty around billings and Annualized Customer Value as likely to weigh on the stock, lowered her price target on Workday shares to $66 from $87 and keeps a Neutral rating on the name.
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