Workday Guidance Eyed In First Earnings Report Since Big Acquisition
Summary
Workday ( WDAY ) reports quarterly results for the first time since closing its biggest acquisition ever — the $1.55 billion purchase of Adaptive Insights — with analysts focusing on updated guidance in light of the deal.The company recently added financial software to its repertoire of programs for human relations, payroll and other business functions."(Workday) partners view the recent acquisition of Adaptive Insights favorably, noting the addition of mature financial planning capabilities fills a much needed functionality gap, creating a more attractive financials value proposition," Morgan Stanley analyst Keith Weiss said in an Aug. 31 note to clients.Analysts are eyeing Workdays momentum in closing larger, multi-year contracts with Fortune 500 companies, especially for financial products."Healthy customer win activity could boost calculated billings back above 30% year-over-year versus 8% last quarter," a KeyBanc report said.
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