1351 ET - Despite notching continued sales growth above expectations in its latest quarter, Workday investors appear unimpressed with the company's reaffirmed guidance as it tumbles 11%. The move "may be evidence of a material swing in investor expectations into the April quarter prints," UBS analysts say in a research note. Just a month ago, reaffirmed guidance could have driven a relief rally, they say, as investors feared a slowdown in corporate spending amid macroeconomic and tariff-related headwinds. Other software companies, like Palantir and Monday.com, have bumped up their full-year expectations in recent weeks after posting continued quarterly sales growth, relieving investors, and potentially raising the bar for similar companies.(kelly.cloonan@wsj.com)
(END) Dow Jones Newswires
May 23, 2025 13:51 ET (17:51 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.