BofA lowered the firm’s price target on Workday (WDAY) to $265 from $278 and keeps a Buy rating on the shares. Skepticism on the magnitude of inorganic revenue contribution to the implied Q4 outlook from the Paradox acquisition is likely to weigh on the shares, the analyst tells investors in a post-Q2 note. Following the earnings report, the firm fine-tuned estimates and trimmed its target due to multiple compression across the group.
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