
Workday WDAY.O shares dip 6.2% at $219.1 premarket
Human resources software provider reported Q3 subscription revenue of $2.24 billion, in line with analyst estimates, per data compiled by LSEG
"Solid execution was partially offset by weakness among institutions relying on federal funding (primarily higher ed)," said analysts at Piper Sandler
The company forecast Q4 subscription revenue of about $2.36 billion, compared with analysts' average estimate of $2.35 billion
At least four brokerages cut their price targets post the results
Stock rated "buy" on avg; median PT is $280 -data compiled by LSEG
As of last close, WDAY down 9.4% YTD