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Fly News Breaks for January 24, 2020
BNFT, WDAY, PCTY, PAYC, CSOD, CDAY, ADP, UPWK
Jan 24, 2020 | 07:15 EDT
As previously reported, Guggenheim analyst Nandan Amladi downgraded Upwork (UPWK) to Neutral from Buy with a price target of $11, down from $25. Growth rates slowed down during the first half of 2019 and he is concerned that the pursuit of larger enterprise deals may mean longer sales cycles, posing a potential headwind to 2020 revenue growth at a time when the company's CEO change could complicate things further, Amladi tells investors. In his broader note about the Human Capital Management space and Upwork's peers, Amladi said that he believes the healthy employment backdrop and an accommodative Fed both bode well for HCM stocks. He raised his price target on ADP (ADP) shares to $200 from $185, raised his price target on Ceridian (CDAY) to $85 from $60, upped his Cornerstone OnDemand (CSOD) target to $75 from $70, increased his Paycom (PAYC) target to $300 from $225, raised his Paylocity (PCTY) target to $150 from $115 and increased his Workday (WDAY) to $240 from $235 while lowering his price target for Benefitfocus (BNFT) to $40 from $50.
News For UPWK;ADP;CDAY;CSOD;PAYC;PCTY;WDAY;BNFT From the Last 2 Days
WDAY
Oct 23, 2020 | 06:16 EDT
Barclays analyst Raimo Lenschow raised the firm's price target on Workday to $238 from $220 and keeps an Equal Weight rating on the shares after moving software valuations to 2022 as the new base year.