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
€204.90
2.370%
The stock is one of the favorites of our community with 61 Buy predictions and 3 Sell predictions.
As a result the target price of 270 € shows a positive potential of 31.77% compared to the current price of 204.9 € for Workday, Inc..
