Workday price target lowered to $216 from $220 at Barclays

Barclays lowered the firm’s price target on Workday to $216 from $220 and keeps an Overweight rating on the shares. The company’s Q4 results were as good as expected, but the revenue guidance was only narrowed and the fiscal 2024 margin beat versus consensus predominantly benefited from an accounting change, the analyst tells investors in a research note. "This means that short-term, we are not sure there will be that much follow-through for the shares," writes the firm.