WDAY - What's Going On With Workday Stock After Earnings? | Benzinga
Workday, Inc. (NASDAQ:WDAY) shares are trading lower Friday after the company reported its first-quarter financial results Thursday and lowered its forward-looking guidance.
The Details:
Workday reported quarterly sales of $1.99 billion which beat the analyst consensus estimate of $1.973 billion and earnings of $1.74 per share. However, the company lowered its forward guidance and now sees second-quarter subscription revenue of $1.895 billion and fiscal-year subscription revenue of between $7.7 billion and $7.725 billion.
Several analysts cut their forecasts for the stock following the print:
- Goldman Sachs analyst Kash Rangan maintained a Buy rating and lowered the price target from $310 to $300.
- Morgan Stanley analyst Keith Weiss maintained Workday with an Overweight and lowered the price target from $330 to $325.
- Stifel analyst maintained its Hold rating and ...