MUFG analyst Stephen Bersey raised his price target for Workday to $125 following tonight’s better than expected Q3 results. The shares in after-hours trading dropped 5%, or $5.54, to $101.00. The company had another strong quarter, growing its high-margin subscription at 37% on a year-over-year basis, Bersey tells investors in a post-earnings research note. He sees Workday’s subscription momentum continuing and reiterates an Overweight rating on the shares.
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