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Fly News Breaks for October 16, 2019
WDAY
Oct 16, 2019 | 08:02 EDT
RBC Capital analyst Alex Zukin lowered his price target on Workday to $212 but kept his Outperform rating after its Analyst Day presentation. The analyst notes that the company's growth plans look "durable" despite the slowing penetration into large accounts, adding that while sales cycles are lengthening, its win rates remain "steady". Zukin attributes the reduced price target on Workday to the stock's "consistent discount" relative to his "High Efficiency comp group", stating that it also scores "lower than average" among those peers.
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