Workday price target lowered to $223 from $235 at JPMorgan

JPMorgan analyst Mark Murphy lowered the firm’s price target on Workday to $223 from $235 and keeps an Overweight rating on the shares post the Q3 report. The results demonstrate Workday’s "relative resilience and stability in a tough macro environment," Murphy tells investors in a research note. The analyst dropped the price target to reflect lower peer group multiples.