SAP - Workday: Miss In Large Deals An Early Warning For The Downside To Come
- Workday has a TAM that is large and growing, giving it the opportunity to cross-sell and upsell across segments.
- However, the recent quarter delays in large deals casts doubts over its ability to defend market share and manage competitive pressures.
- In addition, Workday's back-office focus makes it vulnerable in the current weak macro environment, as there are evidences that customers may be delaying or cutting back on deals.
- My price target for Workday is $112.56, implying a 20% downside from current levels.
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Workday: Miss In Large Deals An Early Warning For The Downside To Come