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Fly News Breaks for February 28, 2017
WDAY
Feb 28, 2017 | 07:51 EDT
Canaccord analyst Richard Davis raised his price target on Workday to $105 from $90. He noted the company will not provide billings guidance as it adopted a new accounting rule a year early and the rule along with increasing seasonality of the business makes the metric less reliable. Davis said his checks lead him to believe the company is very likely to close enough deals to propel the firm's revenue toward 30% over the next two years. Davis reiterated his Buy rating on Workday shares.
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