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Workday Is Fine But The Markets Aren’t

October 23rd, 2018 · No Comments

  • Acquisitions and new modules have expanded the TAM and will keep revenues growing for some time to come.
  • While the company is non-GAAP profitable, there isn’t yet much operational leverage, and share-based compensation is huge.
  • We don’t see much reason for multiple expansion either. In fact, multiples could contract in times of market turbulence when sentiment turns against high-flyers.
  • So, we’re sitting on the fence on this one until the storm in tech shares abates.

Source: Workday Is Fine But The Markets Aren’t – Workday (NYSE:WDAY) | Seeking Alpha

Tags: WDAY