(Finance) – Great day for Workday which is posting a 4.20% rise on the back of the cloud software company’s solid quarterly accounts.
In detail, the leader in enterprise cloud applications for finance and human resources, reported total revenues in the second quarter of $ 1.54 billion, up 21.9% over the previous year. On the other hand, subscription revenues amounted to $ 1.37 billion, 22.8% higher than the year before. For fiscal year 2023, $ 5.537 and $ 5.557 billion are expected
Comparing the performance of the stock with the Nasdaq 100on a weekly basis, it is noted that the US provider of on-demand financial and human capital management software maintains positive relative strength in comparison with the index, demonstrating greater appreciation by investors compared to the index itself (weekly performance -2.28%, compared to -4.62% of theUS technology stock index).
In the short run, Workday it has an improving structure, with a resistance area seen at USD 175.5 and support at 165.9. Operating levels indicate a widening of the curve from yesterday’s highs, with prices likely to push up to the important resistance area estimated at 185.1.