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Morgan Stanley analysts said channel checks showed the first-quarter performance was largely in line with expectations but a pushout of deals will likely impact second-quarter performance.
Macquarie’s Steve Koenig sees multiple upside revenue drivers, including improved net expansions, a pricing model change, and a greater focus on landing new large customers.
Bernstein analysts noted that the current valuation was at the higher end of historical levels and was at a premium to software peers.
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