Workday leads enterprise software stocks lower ahead of holiday weekend
Enterprise software stocks were mostly lower on Friday, led by Workday (NASDAQ:WDAY), ahead of the Memorial Day weekend.
Workday shares fell 11% even as the back-office software provider reported first-quarter results and guidance that were mostly in line. The company reiterated second-quarter subscription revenue guidance at $2.16B (matching estimates) and raised its full-year adjusted operating margin forecast to 28.5% (up from 28%). Full-year subscription revenue is expected to reach $8.8B.
Autodesk shares fell fractionally, even as the construction software maker topped estimates for the first-quarter of fiscal 2026 and topped estimates for the coming periods. For the second-quarter, Autodesk guided revenue between $1.72B and $1.73B, surpassing the consensus of $1.7B, and adjusted earnings of $2.44–$2.48 per share, above the $2.34 estimate.
For the full year, Autodesk sees revenue of $6.92B–$6.99B, with the midpoint of $6.955B above the $6.93B consensus.
Palantir (PLTR) shares rose 0.5% after Wedbush Securities maintained its Outperform rating and spoke positively about the company's recent $795M contract with the U.S. Army.
“Palantir remains one of our top names to own in 2025 and this deal represents another opportunity for PLTR to capitalize on while continuing to generate unprecedented traction for its entire portfolio across in the federal and commercial landscapes,” said analysts led by Daniel Ives.
Microsoft (MSFT), Oracle (ORCL) and Palo Alto Networks (PANW) were among the other enterprise software stocks seeing red on Friday amid renewed concerns about a trade war between the U.S. and Europe.
Enterprise software stocks were mostly lower on Friday, led by Workday (NASDAQ:WDAY), ahead of the Memorial Day weekend.
Workday shares fell 11% even as the back-office software provider reported first-quarter results and guidance that were mostly in line. The company reiterated second-quarter subscription revenue guidance at $2.16B (matching estimates) and raised its full-year adjusted operating margin forecast to 28.5% (up from 28%). Full-year subscription revenue is expected to reach $8.8B.
Autodesk shares fell fractionally, even as the construction software maker topped estimates for the first-quarter of fiscal 2026 and topped estimates for the coming periods. For the second-quarter, Autodesk guided revenue between $1.72B and $1.73B, surpassing the consensus of $1.7B, and adjusted earnings of $2.44–$2.48 per share, above the $2.34 estimate.
For the full year, Autodesk sees revenue of $6.92B–$6.99B, with the midpoint of $6.955B above the $6.93B consensus.
Palantir (PLTR) shares rose 0.5% after Wedbush Securities maintained its Outperform rating and spoke positively about the company's recent $795M contract with the U.S. Army.
“Palantir remains one of our top names to own in 2025 and this deal represents another opportunity for PLTR to capitalize on while continuing to generate unprecedented traction for its entire portfolio across in the federal and commercial landscapes,” said analysts led by Daniel Ives.
Microsoft (MSFT), Oracle (ORCL) and Palo Alto Networks (PANW) were among the other enterprise software stocks seeing red on Friday amid renewed concerns about a trade war between the U.S. and Europe.
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