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)
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