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Fly News Breaks for December 2, 2016
WDAY
Dec 2, 2016 | 06:59 EDT
Jefferies analyst John DiFucci called Workday's Q3 results "solid," noting that the company beat expectations across all metrics. However, given the stock's high valuation, he does not expect that investors will be forgiving of the fact that its Q4 top line guidance missed expectations and that its FY18 guidance came in "materially" below estimates. DiFucci lowered his price target on Workday shares to $71 from $79 and keeps a Hold rating on the shares.
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