JPMorgan analyst Mark Murphy views Workday's Q1 results as "decent" and believes they are unlikely to create "incremental excitement" with the stock having risen into the mid-$70s. The company seemed to confirm the lack of any mega-deals during Q1 and acknowledged some minor temporary disruption from the sales reorganization, Murphy tells investors in a post-earnings research note. He notes, however, that the company still posted modest billings upside with material earnings and cash flow upside. The analyst reiterates an Overweight rating on Workday with an $85 price target.