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Fly News Breaks for December 4, 2019
WDAY
Dec 4, 2019 | 07:32 EDT
Oppenheimer analyst Brian Schwartz maintained an Outperform rating and $225 price target on Workday following the company's Q3, which featured "mixed" business trends. In a research note to investors, Schwartz says the Q3 results are unlikely to change the narrative on Workday, and while there is plenty of noise surrounding the slowdown in the company's HCM growth, he believes management is fundamentally making the right decision to emphasize the suite approach for Financials, which can catalyze opportunities and share gains. He believes Workday should trade at a premium to this group considering its 3-4x larger total addressable market and greater free cash flow generation.
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