Workday price target lowered to $316 from $326 at Barclays

Barclays lowered the firm’s price target on Workday to $316 from $326 and keeps an Overweight rating on the shares. The company reported a largely in-line quarter that is unlikely to be a catalyst to shares following the recent outperformance, the analyst tells investors in a research note. The firm says investors will likely focus on the lower than expected revenue performance obligation guidance, which limits upside potential to fiscal 2025 subscription revenue. However, the firm sees few changes to the overall long-term investment thesis.