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Fly News Breaks for February 28, 2017
WDAY
Feb 28, 2017 | 07:50 EDT
UBS analyst John Byun raised his price target on Workday to $103 from $94 following strong Q4 results. The analyst cited the surprise early adoption of the new revenue accounting rule which he said is a big strategic move against the competition and should increase conversations with potential CFO buyers. Byun noted workday remains one of the fastest growing SaaS/Cloud companies and sees its financial management products gaining more traction each quarter. Byun reiterated his Buy rating on Workday shares.
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