Tech investors eager for a stake in the fast-growing cloud computing sector should consider Workday stock.
The stock of human resources software maker
Workday (
WDAY) tanked following its third quarter earnings report posted after the close on Monday, Nov. 24. Shares fell 5.5% to $87 from $93 on Tuesday. Revenue growth exceeded expectations, but the company’s net loss widened to nearly $60 million, or 33 cents per share, from $48 million, or 27 cents per share, in the same quarter a year earlier. Plus, management forecast slower than expected revenue growth.
For tech investors, the recent pounding could point to a buying opportunity. WDAY is a long-term opportunity in an industry with significant potential. Cloud computing and software-as-a-service, or SaaS, has been
described as one of the most disruptive technologies in the enterprise software market and WDAY is well on its way to becoming a major player in that arena.