Workday slides on weak Q4 subscription revenue forecast; brokerages slash PT
** Shares of Business software maker WDAY.O down 10.06% at $243.01 in premarket trading
** Co forecast fourth-quarter subscription revenue below Wall Street expectations on Tuesday, hit by weaker client spending on its human capital management software
** At least three brokerages slash PT on stock
** Brokerage Piper Sandler cuts rating to "neutral" from "overweight" and trims PT to $270 from $285
** Says, "continued erosion of growth and limited visibility into the timing of a recovery hinders our outlook on the name"
** Barclays cuts PT to $305 from $314, citing co will face multiple compressions in the short term
** 28 of 39 brokerages rate the stock "buy" or higher, 10 "hold" and one "sell" or lower; their median PT is $290 - LSEG
** Up to Tuesday's close, stock had fallen ~2% <> YTD
Reporting by Joel Jose in Bengaluru
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