Workday falls after Q2 subscription revenue forecast disappoints

Shares of human resources software provider Workday WDAY.O fall 11.6% to $240.53

WDAY late on Thursday forecast Q2 subscription revenue of $2.16 billion, in line with analysts' estimate, according to data compiled by LSEG

"What drove down the stock, we believe, was that investors were expecting to see signs of acceleration at least in next quarter's guide, but it turns out we are going to have to wait a little longer for that validating point" - Bernstein analysts in a note

Co also posted Q1 subscription revenue of $2.06 billion, largely in line with estimates

Co earned $2.23 per share in Q1 on an adjusted basis, vs estimates of $2.01 per share

As of last close, WDAY stock up 5.4% YTD