Why Workday Stock Sank Today
(NASDAQ: WDAY) stock sank Thursday following a downward guidance revision from management. The company's share price closed out the session down 8.5%, according to data from S&P Global Market Intelligence.
At its financial analyst conference Wednesday, Workday laid out new growth targets that came in below its previous guidance range. Workday had previously guided for annualized subscription revenue growth of more than 20% over the next three years, but it lowered its forecast to growth of between 17% and 19%.
In addition, Workday issued a target for a non-GAAP (adjusted) operating income margin of 25% through the end of its fiscal 2026. Even though the business posted an adjusted operating margin of 23.6% last quarter, this guidance was broadly viewed as underwhelming.
Source Fool.com
Workday, Inc. Stock
With 62 Buy predictions and 4 Sell predictions Workday, Inc. is one of the favorites of our community.
With a target price of 267 € there is a positive potential of 28.4% for Workday, Inc. compared to the current price of 207.95 €.
