Workday (WDAY) Reiterated at Market Perform by Citizens After Q1 Results

Citizens analyst Patrick Walravens reiterated a Market Perform rating on Workday (NASDAQ: WDAY).

The analyst commented, "We maintain our Market Perform rating on Workday after the company reported mostly better-than-expected F1Q27 results, with non-GAAP EPS of $2.66 (consensus of $2.51) on subscription revenue of $2.36B (consensus $2.34B), up 14.3% y/y (down from 15.3% last quarter), with 12-month subscription revenue backlog of $8.81B (consensus $8.77B) and total subscription revenue backlog of $27.29B, missing the consensus of $28.38B as Workday saw a mix-shift toward growth in the customer base with those renewals having "a slightly shorter duration than a net new offering" — all of which left the stock up ~11% in the aftermarket after having fallen 43% year to date, versus an ~9% increase for the S&P 500 and Russell 3000."

For an analyst ratings summary and ratings history on Workday click here. For more ratings news on Workday click here.

Shares of Workday closed at $121.85 yesterday.

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