2023-10-01 07:12:00 ET
Workday 's (NASDAQ: WDAY) stock price has risen 35% over the past 12 months as the cloud-based human capital management (HCM) services provider impressed investors with its stable growth and rising margins in a tough macro environment.
Back in late August, I said Workday's stock still had room to run and looked reasonably valued relative to its growth potential. Its recent rollout of new artificial intelligence ( AI ) features seemingly supported that bullish view. But an unexpected reduction to its long-term guidance overshadowed that positive development. Let's review this green flag and red flag for Workday's future, and see if its stock is still a worthwhile long-term investment.
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1 Green Flag and 1 Red Flag for Workday's Future