Workday: Continues To Put In Work Despite Market Weakness

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About: Workday, Inc. (WDAY)
by: The Software Side of Life
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The Software Side of Life
Long/short equity, Growth, momentum, tech
Summary

Workday is still near their all-time highs, despite contracting over 20% pre-earnings during the broader market sell off.

Q3 revenue grew 34%y/y which was ahead of consensus estimates for 30% y/y growth and an acceleration from Q2.

With $3 billion run-rate in revenue, Workday is deserving of their premium valuation for the foreseeable future.

After falling 20% from their pre-earnings all-time highs, Workday (WDAY) has proven to withstand the market correction and has now reached new all-time highs. This is a rather impressive feat given the overall