- With Workday management having noted slippage among large deals early in Q4, and shares declining 20%+ since late in November 2016 through late December, analyst Brian White considers today's deal struck with Wal-Mart Stores to indicate positive financially and represent "important psychological implications" for the company.
- Although exact figures and terms of the arrangement aren't known, White estimates inclusion of Wal-Mart Stores' entire 2M+ headcount in the subscription, should that occur, at up to $100M-$200M in annual revenue. However, does note extended time it takes for large deals to factor and expects complete revenue impact to remain unrealized in the immediate term. Such sentiment reflects Workday's own reiteration of prior-issued guidance for Q4 2017 and FY 2018.
- Drexel Hamilton maintains Workday (WDAY +8.1%) at Buy and $104 target (current price $80.36).
- Earlier: Workday trading halted for pending news release / Workday +7.2%; William Blair indicates contract with company employing 2M+
Drexel Hamilton reissues Workday at Buy amid news of deal with Wal-Mart Stores
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