Why Workday Stock Crashed 14% Today
Shares of human-resources software maker (NASDAQ: WDAY) tumbled 13.8% through 11:40 a.m. ET on Friday, despite beating expectations in the company's first-quarter 2024 earnings report Thursday night.
Heading into earnings, analysts forecast Workday would earn $1.58 per share on sales of $1.97 billion. The company edged out the revenue prediction with sales of $1.99 billion, and beat the per-share guess soundly, earning $1.74.
But not all the news was good. Sales for the quarter climbed 18.1% year over year, and subscription revenue was up an even stronger 18.8%. But Workday's earnings were more of a bad news, good news situation.
Source Fool.com
Workday, Inc. Stock
€110.48
-0.830%
The stock is one of the favorites of our community with 66 Buy predictions and 2 Sell predictions.
Based on the current price of 110.48 € the target price of 244 € shows a potential of 120.85% for Workday, Inc. which would more than double the current price.
