Deutsche Bank analysts shared their outlook on Workday, Inc. (NASDAQ:WDAY) ahead of the company’s upcoming Q1 earnings results, expected to be reported on May 26.
The analysts anticipate Q1 results/guidance to be better than feared, with their checks suggesting Q4 momentum very likely continued into Q1. According to the analysts, the company continues to benefit from distributed work dynamics, a tight labor backdrop, and a supportive environment for cloud software, at least for now.
Resource constraints and implementation lead times within Workday’s partner ecosystem have begun to normalize from peak levels in late 2021. The analysts said May is reportedly off to a strong start, and while partners don’t foresee macro weakness impacting Q2, some acknowledge elevated risk into H2.