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WDAY

Workday

5/24/2013, 10:08 PM ET

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Wednesday, May 22, 4:34 PM More on Workday (WDAY) 2014 FQ1 earnings: Full year revenue guidance of $425M-$440M upped from previous $420M-$435M. Subscription revenue of $68.4M, up 85% from a year ago. Unearned revenue balance of $224M, up 12.5% Q/Q. Operating expenses up 62% Y/Y - Sales and Marketing +54%, R&D +75%. CC at 5 ET. Shares reverse a quick early tumble, now +1.4% AH. (PR) Comment! [Tech, Earnings, On the Move]
Wednesday, May 22, 4:09 PM Workday (WDAY): Q1 EPS of -$0.15 beats by $0.03. Revenue of $91.6M (+61% Y/Y) beats by $4.69M. Shares -2.6% AH. (PR) Comment! [Earnings, Breaking News, Tech, On the Move]
Wednesday, May 22, 12:10 AM Notable earnings after Wednesday’s close: DRYS, EGHT, GAME, HPQ , LTD, PETM, PSUN, SNPS, VVTV, WDAY 3 Comments [Earnings]
Tuesday, May 21, 5:35 PM Notable earnings after Wednesday ’s close: DRYS, EGHT, GAME, HPQ , LTD, PETM, PSUN, SNPS, VVTV, WDAY Comment! [Earnings]
Friday, May 10, 8:57 AM Oppenheimer likes Workday (WDAY), and initiates shares at Outperform. "We believe Workday is a clear industry leader that is run by a visionary management team, yet it is still only lightly penetrated in a very large TAM opportunity. These are highly attractive investment traits within the software industry and suggest that WDAY's planned future moves into big data and financial management will likely be viewed as positive catalysts." Shares are +33.4% since WDAY's October IPO. Comment! [Quick Ideas, Tech]
Friday, April 26, 5:31 PM After-hours top gainers, as of 5:15 p.m.: AXU +3%. EGN +3%. NCTY +2%. GTE +2%. PMCS +2%.
After-hours top losers: NSPR -3%. TRX -2%. TIVO -2%. WDAY -2%. ZOLT -2%. Comment! [On the Move]
Thursday, April 25, 2:08 PM Though BMO just joined a long list of firms to have a neutral rating (its official rating is Market Perform, and its PT is $60) on Workday (WDAY +4.8%), the cloud HR/ERP software vendor is strongly outperforming on an up day for tech. A decent 17.2% of the float was shorted as of March 28 (Workday's multiples are likely a major reason for this). Hedge fund Lone Pine Capital recently disclosed a 9.35% stake in Workday. Comment! [Tech, On the Move]
Wednesday, April 17, 9:26 AM Workday (WDAY) +1.7% after Wedbush's Steve Koenig starts coverage with an Outperform and $76 PT. "WDAY is a play on the potential for cloud computing to fundamentally remake the $25B [ERP software] market, just as it has disrupted the $13B [CRM software] market," Koenig writes, while adding checks indicate strong interest in cloud ERP from "enterprises saddled with expensive on-premise systems that are costly to maintain and update." NetSuite (N) is another cloud ERP vendor; SAP has the most to lose if the market takes off on a large scale. (yesterday) Comment! [Tech, On the Move]
Tuesday, April 16, 5:47 PM Workday (WDAY) rolls out a fresh update to its core HR/financial software platform. The update, called Workday 19, includes an Android app, new financial dashboards, and several new HR data categories. The update comes ahead of the launch of Workday's Big Data and Recruiting products later this year, and shortly after co-CEO Aneel Bhusari asserted in an interview Workday Workday will invest aggressively to narrow Oracle and SAP's edge in (sales) distribution. He also insisted cloud HR rivals "have a really long way to go to catch up to us." Comment! [Tech]
Wednesday, April 10, 9:05 AM Workday (WDAY) -3.7% as a 63M-share lockup expiration hits. The expiration serves to more than triple Workday's float to 89M shares from a current 26M. (previous) Comment! [Tech, On the Move]
Friday, April 5, 10:31 AM Jefferies launches coverage on Workday (WDAY +0.4%) with a Buy and $75 PT, helping shares outperform. "Workday's software-as-a-service delivery model, object-oriented framework, in-memory architecture and easy-to-use interface represent significant improvements over legacy [ERP and HR software] solutions," argues analyst Ross MacMillan. Comment! [Tech]
Thursday, March 21, 11:39 AM Evercore and CLSA have downgraded Oracle (ORCL -8.8%) following its FQ3 miss and light top-line guidance. The numbers have many worried about the impact of cloud apps ... and not just on application software sales. "As customers move to the cloud, you get a lot of the functionality consolidated ... so you need less hardware and less databases and middleware," says Pac Crest. UBS is still bullish: "Historically when they have a miss it’s a great time to buy." Interestingly, cloud rivals are higher - WDAY +1.4%, CRM +0.4%, N +1.2% - even as other peers follow the tech sector lower. IBM -1.6%. INFA -1.6%. RHT -1.1%. (transcript) 4 Comments [Tech, On the Move]
Wednesday, March 20, 1:26 PM H-P's (HPQ +0.8%) internal processes are being overhauled left and right, says tech/operations chief John Hinshaw ahead of today's shareholder meeting. The changes, which cover sales, procurement, and much else, may have contributed to H-P's FQ1 EPS beat. A lot of the changes involve the use of cloud software: Hinshaw claims H-P has the world's largest Salesforce (CRM) and Workday (WDAY) implementations (ORCL software was replaced) and that using Salesforce has led to huge improvements in sales efficiency and job satisfaction. 3 Comments [Tech]
Wednesday, March 20, 12:34 PM FBN launches coverage on a slew of enterprise/cloud software and Web hosting/CDN service plays. Akamai (AKAM +1.9%), Equinix (EQIX +0.6%), VMware (VMW +1.3%), Citrix (CTXS +1.3%), Salesforce (CRM +0.7%), and NetSuite (N +1.7%) have been started at Outperform, while Rackspace (RAX +2.6%), Workday (WDAY), and Concur (CNQR -1.3%) have been started at Sector Perform. Comment! [Tech]
Friday, March 8, 11:32 AM Strong customer and subscription sales growth help Workday (WDAY +3%) turn positive following its FQ4 report, in spite of lofty multiples. On the earnings call, Workday noted its subscription backlog totaled $434M at quarter's end (+80% Y/Y), and suggested international sales investments are a priority - most of Workday's sales still come from the U.S. Management also talked up the potential of Workday's upcoming Big Data and Recruiting products. William Blair (Outperform) cautions a 63M-share lockup expiration arrives on April 10 (Workday's current float is only 26M). Comment! [Tech, On the Move, Earnings]
Thursday, March 7, 5:58 PM More on Workday: FQ1 guidance is for revenue of $83M-$87M vs. an $86.4M consensus. FY14 (ends Jan. '14) guidance is for revenue of $420M-$435M vs. a $425M consensus. FQ4 subscription sales +105% Y/Y, above rev. growth of 89%. Unearned revenue balance +13% Q/Q and +52% Y/Y. Over 50 customers added, raising total above 400. Opex +69% Y/Y, fueled by big increases in sales/marketing and R&D. WDAY -3.1% AH after falling 4.5% in regular trading - investors may have been looking for above-consensus guidance, given Workday's multiples. (PR) 1 Comment [Tech, Earnings]