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Fly News Breaks for February 28, 2018
WDAY
Feb 28, 2018 | 08:53 EDT
JMP Securities analyst Patrick Walravens raised his price target on Workday to $141 from $117 after the company reported Q4 non-GAAP EPS, revenue growth and billings growth that all topped consensus. He attribute a pullback in the stock in after-hours trading to the fact that expectations had been very high and management commentary suggesting Q1 billings will be lower than expected, though Walravens said this is due primarily to fluctuating contract structures and payment terms. The analyst, who still sees Workday as very well positioned to gain share of the $37B ERP market, keeps an Outperform rating on the stock.
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