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Workday Inc Class A WDAY

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Workday Sees Pace of Digital Acceleration Exceed Expectations in Q2; $229 FVE; Shares Fairly Valued

Julie Bhusal Sharma Equity Analyst

Analyst Note

| Julie Bhusal Sharma |

Wide-moat Workday beat FactSet and our non-GAAP EPS expectations nicely in its second-quarter results thanks to even heartier digital acceleration of HR and finance software than Workday had forecast. With results came improved outlook for the year because of the surprisingly stronger momentum being seen. We think that the stronger growth expected for the year will moderate growth levels slightly in latter forecast years within our model. As a result, we are maintaining our fair value estimate for wide-moat Workday of $229 per share. We consider Workday to be fairly valued, as shares have risen by 6% to approximately $261 per share upon the news.

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Company Profile

Business Description

Workday is a software company that offers human capital management, or HCM, financial management, and business planning solutions. Known for being a cloud-only software provider, Workday is headquartered in Pleasanton, California. Founded in 2005, Workday now employs over 12,000 employees.

6110 Stoneridge Mall Road
Pleasanton, CA, 94588
T +1 925 951-9000
Sector Technology
Industry Software - Application
Most Recent Earnings Jul 31, 2021
Fiscal Year End Jan 31, 2022
Stock Type Speculative Growth
Employees 12,500