TD Cowen analyst Derrick Wood lowered the firm’s price target on Workday (WDAY) to $290 from $310 and keeps a Buy rating on the shares. The firm attended a company conference and came away believing management threaded the needle well on the growth/margin framework, including setting a more conservative growth bar and showing continued commitment to margin expansion. AI traction was better than expected; the new platform vision is impressive and the Sana acquisition seems like a bold move into enterprise search and a new prompt interface.
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