Workday: Lower Growth Expectation, But Upside Is Still Attractive
Portfolio Pulse from
Workday (WDAY) maintains a buy rating despite lower growth expectations, with potential for positive multiple revision if growth hits 16%. The company's 3Q24 revenue grew ~16% y/y, driven by strong AI solution demand and an improved go-to-market strategy. Investors should monitor macro conditions and potential headwinds.
December 02, 2024 | 11:45 pm
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Workday's 3Q24 revenue grew ~16% y/y, driven by strong AI solution demand and an improved go-to-market strategy. Despite lower growth expectations, the stock is rated a buy due to potential for positive multiple revision if growth hits 16%.
Workday's strong revenue growth and demand for AI solutions suggest a positive outlook. The potential for a positive multiple revision if growth targets are met supports a buy rating, indicating likely short-term price appreciation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100