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Fly News Breaks for December 4, 2019
WDAY
Dec 4, 2019 | 06:40 EDT
Workday's fiscal 2021 outlook implying 21% subscription growth implies that cloud HR revenue could moderate to a mid-teens growth profile next year, Piper Jaffray analyst Brent Bracelin tells investors in a post-earnings research note. The moderating growth may temper Workday's multiple expansion, says the analyst, who lowered his price target for the shares to $173 from $174 and keeps a Neutral rating on the name.
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