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Fly News Breaks for August 30, 2019
WDAY
Aug 30, 2019 | 07:40 EDT
KeyBanc analyst Brent Bracelin maintained an Overweight rating and $235 price target on Workday following the company's "solid" Q2 earnings report, which included a revenue beat, year-over-year subscription growth of 33.9%, and year-over-year cloud financials revenue growth of 50%. The analyst raised his FY20 revenue estimate by $28M due to rising financials demand. Bracelin was positive on the company's durable growth trajectory and improving free cash flow margin profile, and called Workday a "core holding for large-cap growth investors."
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