Credit Suisse analyst Phil Winslow lowered the firm’s price target on Workday to $195 from $215 and keeps a Neutral rating on the shares. The analyst notes the company reported strong Q3 revenue, profitability, and a stronger-than-expected backlog metric with 24-month subscription revenue backlog growth of 21.1% year-over-year versus consensus implied growth of 18.9% year-over-year.
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