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Fly News Breaks for December 4, 2019
WDAY
Dec 4, 2019 | 09:29 EDT
RBC Capital analyst Alex Zukin lowered his price target on Workday to $196 after its mixed Q3 results, with good revenue, strong margins and rising cash flows offset by "light" billings and "highly conservative" FY21. The analyst keeps his Outperform rating on the company given its "opportunity ahead" with "good margin leverage", but also believes that Workday needs to execute well in Q4 to restore confidence for potential outperformance, particularly given the deceleration in its HCM business.
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