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    So you’ve invested in your Workday skills, and probably with some significant profit! Is now the time to invest in Workday stock?

    Recent analysis by a Goldman Sachs Senior Analyst suggest it just might be.

    Performance of Workday stock over the past year has been sluggish at best with 3% growth compared to 23% return on the wider S&P 500.

    Goldman Sachs analyst Heather Bellini cited this context of recent underperformance alongside the significant growth potential of Workday’s Financials solution in a Cloud Financials market primed for significant growth.

    Bellini stated, “We believe Workday’s recent underperformance creates an attractive entry point as momentum builds in the large enterprise cloud based migrations of Financials”

    Gartner back this up with a forecasted annual increase of 21% for Cloud Financials subscriptions sales into 2022.

    This combination of recent underperformance and Workday’s opportunity to increase their client base, particularly outside of their core North American markets, in the fast growing Cloud Financials market have persuaded Goldman Sachs to add Workday to their ‘Conviction List’, a list of stocks predicted to significantly outperform the market in the coming year.

    Outside of Goldman Sachs though in the wider investor community Workday stocks appear to split opinion. Analysts weigh up the potential for growth in their Enterprise Financials solution, where Workday are still considered a growing force, against the deceleration in subscription sales for their significantly more mature Cloud HR Solution – the underperformance of which has been responsible largely for poor returns in the past year.

    Opinion is indeed split on Wall St. FactSet report that 49% of Wall St Analysts are currently assigning a Buy or Overweight rating on Workday compared to 43% having Hold ratings. Goldman Sachs’ Bellini believes the risk is however well worth taking – particularly now that subscription guide figures for 2021 have been released and are out of the way, “We see room for outperformance over the course of the year and note Workday has historically raised subscription revenue guidance over the course of the year”

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    Workday specialists – you’ve invested in your Workday skills. Is now the time to invest in Workday stock?

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