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Fly News Breaks for October 17, 2019
WDAY
Oct 17, 2019 | 08:19 EDT
Canaccord analyst Richard Davis lowered his price target on Workday to $200 from $235 after the company said its revenue growth rate was set to decelerate despite repeated advisories from management over the past six months. The company also said its machine learning effort would be hard to monetize. Having said that, Davis said the company's growth is not linear so investors should not get overly excited when growth accelerates nor overly despondent when it slows against tough comparisons. Davis maintained his Buy rating on Workday shares.
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