Seeking Alpha

Workday (WDAY) doesn't disappoint. Shares opened at $48.05 and are currently trading at $48.17,...

Workday (WDAY) doesn't disappoint. Shares opened at $48.05 and are currently trading at $48.17, up 72% from a raised IPO price of $28. The gives the company, declared by some to be the future of enterprise-class HR software, a valuation of $7.7B, or 34x trailing sales. (S-1)
Comments (7)
  • Mike Maher
    , contributor
    Comments (2500) | Send Message
     
    Underwriters did a terrible job if the stock opened up 72%.
    12 Oct 2012, 10:13 AM Reply Like
  • chopchop0
    , contributor
    Comments (3242) | Send Message
     
    Probably a little scared after fb
    12 Oct 2012, 10:28 AM Reply Like
  • Mike Maher
    , contributor
    Comments (2500) | Send Message
     
    More like probably trying to make their clients some easy money to make up for FB. Lead manager is Morgan Stanley.....
    12 Oct 2012, 11:55 AM Reply Like
  • M-P
    , contributor
    Comments (79) | Send Message
     
    It seems to have bounced off its highs - I wonder if it will begin to settle in the 30's or high 20's in a few weeks ... definitely a high multiple on sales in the high 40's. Where do people see this in the next few weeks? I could go either way ... frothiness hasn't stopped CRM, but ... still a lot of uncertainty in the market/politics, etc.
    12 Oct 2012, 10:32 AM Reply Like
  • Warren G Wonka
    , contributor
    Comments (8) | Send Message
     
    The CEO was happy as a clam about the opening on CNBC. He didn't want to overprice what he saw as the proper value.
    12 Oct 2012, 01:42 PM Reply Like
  • Warren G Wonka
    , contributor
    Comments (8) | Send Message
     
    The CEO was happy as a clam with the opening in his CNBC interview. He did not want it priced higher than his estimate of the value.
    12 Oct 2012, 01:42 PM Reply Like
  • Mike Maher
    , contributor
    Comments (2500) | Send Message
     
    He's likely been paid with stock options, so of course he's happy the stock is up 70%. If you were an owner of the company yesterday, and just realized you left another 70% on the table, I doubt you are grinning ear to ear today.

     

    Depending on which CEO it was on TV, he owns 27 million shares, and didnt sell in the IPO. Of course hes happy the stock is up, because on paper hes worth an extra $540 million dollars since the IPO last night. Not a bad day.

     

    http://bit.ly/TdcMVm
    12 Oct 2012, 04:09 PM Reply Like
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