Piper Jaffray analyst Sean Wieland raised his price target for Medidata to $96 from $83 and reiterated an Overweight rating after the company reported upside to EPS and revenue in Q1 and posted subscription backlog that offers 92% visibility on the rest of the year. Wieland tells investors in a research note that he is “excited” about Medidata’s new Acornai AI offering, and notes that management commented on takeout speculation, saying that it would “do the right thing.”
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