Oppenheimer analyst Owen Lau raised the firm’s price target on Nasdaq to $80 from $78 due to rerating, while keeping an Outperform rating on the shares after the company provided more details about the accounting change to the revenues associated with AxiomSL. This change allows AxiomSL’s revenues to follow more closely with the ARR and cash economics of its on-premises subscription contracts. Oppenheimer believes it is a positive change for shareholders.
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