Workday price target lowered to $305 from $314 at Barclays

Barclays lowered the firm’s price target on Workday (WDAY) to $305 from $314 and keeps an Overweight rating on the shares. At face value, the company’s Q3 report “was not a major catalyst” for the shares as a solid print and slightly weaker guidance comments “about offset each other,” the analyst tells investors in a research note. The firm says negative after-hours reaction is likely due to the fact that the outlook was lowered again. “We get that but would argue that we are close to the trough,” contends Barclays.