Workday's Product Suite Impressive: Time To Hold The Stock?
Zacks Investment Research | Nov 30, 2017 10:04PM ET
On Nov 30, we issued an updated research report on Workday Inc. (NASDAQ:WDAY) , a Pleasanton, CA-based provider of enterprise-level software solutions for financial management and human resource domains.
Notably, strong demand for the company’s products is expanding its customer base, which in turn is proving to be beneficial for its top line. Revenues surged 34.3% on a year-over-year basis to $555.4 million in third-quarter fiscal 2018.
The impressive revenue growth resulted in better-than-expected non-GAAP earnings of 24 cents per share, much higher than 5 cents per share reported in the year-ago quarter. Additionally, annual customer satisfaction rating was 98%, which was better than management’s target of 95%.
Workday stock has gained 55.9% year to date, substantially outperforming the 29.8% rally of the Zacks Investment Research
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