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Fly News Breaks for February 7, 2020
Feb 7, 2020 | 05:16 EDT
Goldman Sachs analyst Heather Bellini added Workday to Goldman's Conviction List and keeps a Buy rating on the shares with an unchanged price target of $211. The analyst notes that since her October 2019 upgrade, Workday shares have underperformed relative to the group, gaining 4% compared to an average 16%. While investor concerns surrounding the pace of deceleration in human capital management and a weaker than expected fiscal 2020 subscription revenue guide have weighed on the stock, the recent underperformance creates an even more attractive entry point, Bellini tells investors in a research note. She expects the company's subscription revenue growth to accelerate in the back half of 2020 as comps get easier.