KeyBanc analyst Michael Turits lowered the firm’s price target on Workday to $195 from $207 and keeps an Overweight rating on the shares ahead of earnings. The analyst is also modestly lowering his 2023/2024 outlook, given worsening macro, concerns about Backoffice de-prioritization, slowing cloud, and some weakness in recent channel conversations, despite positive input from contacts at Workday Rising earlier in the quarter. That said, Turits continues to see several near-term and long-term drivers in HCM and Financial modernization projects.
Published first on TheFly
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