Workday's Fiscal Q3 Earnings Risk Slightly Positive, Oppenheimer Says

MT Newswires Live11-21 00:14

Workday's (WDAY) fiscal Q3 earnings risk weighs slightly positive while the probability of another revenue cut seems low, Oppenheimer said Wednesday.

The maker of cloud applications for finance and human resources is scheduled to report fiscal Q3 results Nov. 26.

"The F3Q earnings risk weighs slightly positive for Workday based on our research mosaic indicating a stable operating environment, healthy customer/industry spending plans and lead generation found in our 3Q surveys, low DOGE exposure, constructive 3Q business activity, and earnings reports from Workday's competitors," Oppenheimer analysts Brian Schwartz and Camden Levy said in a note.

On the other hand, the company likely faces limited upside potential to CRPO, and a "moderating beat magnitude" in the quarter from challenging year-over-year comparisons, among other factors, according to the note. Still, the "odds appear low" for another reduction in revenue, the analysts said.

Oppenheimer reiterated its outperform rating on the stock, with a $300 price target.

Price: 259.77, Change: -0.13, Percent Change: -0.05

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