Workday: Remaining Cautious In The Near Term

Nov. 25, 2022 7:30 AM ETWorkday, Inc. (WDAY)ORCL, SAP, SAPGF2 Comments

Summary

  • Channel checks suggests that Workday is still holding on, while expectations increase for future deal delays.
  • Workday's investor day provided near-term optimism as management provided a path to achieving its longer-term revenue and margin targets.
  • Last quarter results were a reprieve for the first quarter results as it came in better than expected.
  • My 1-year target price for Workday is at $123, implying 16% downside from current levels.
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Investment thesis

Workday (NASDAQ:WDAY) will be reporting its third quarter results soon and I take some time to review my analysis of the company. Firstly, based on some checks with Workday's partners and customers, while the demand for Workday continues to be

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