Workday (WDAY) shares plunged more than 11% in extended trading Thursday after the cloud-based professional services company provided softer-than-expected current-quarter and full-year 澳洲幸运5官方开奖结果体彩网:subscription revenue guidance.

For the current quarter ending July 31, the company guided subscription revenue coming in at $1.895 billion, missing estimates of $1.903 billion. Looking at the fiscal 2025 full year, the company trimmed its subscription revenue forecast to between $7.7 billion and $7.725 billion from its prior range of $7.725 billion to $7.775 billion.

“Our updated subscription-revenue guidance reflects the elevated sales scrutiny and lower customer-headcount growth we experienced during the quarter,” Workday CFO Zane Rowe said in the company’s earnings statement.

However, Workday said its increased efficiencies helped it boost its annual adjusted 澳洲幸运5官方开奖结果体彩网:operating margin by half a percentage point to 25%.

For the three-month period ending April 30, the company posted net sales of $1.99 billion, slightly ahead of the $1.97 billion consensus view. On the earnings front, it posted an 澳洲幸运5官方开奖结果体彩网:adjusted profit of $1.74 per share, surpassing analysts’ expectations of $1.58 a share.

Separately, Workday announced late Thursday that the Defense Intelligence Agency (DIA) had selected it to modernize its 澳洲幸运5官方开奖结果体彩网:human resources efforts, helping the company expand its footprint into the public sector.

Monitor Reaction to This Level Amid

Since completing a 澳洲幸运5官方开奖结果体彩网:double bottom pattern in November 2022, Workday shares have trended higher, with momentum accelerating after the 50-day moving average (MA) crossed above the 200-day MA to generate a 澳洲幸运5官方开奖结果体彩网:golden cross signal early last year. More recently, the stock has undergone a 澳洲幸运5官方开奖结果体彩网:correction 𓂃of more than 20% but found support around the 200-day MA. 

Given the stock sits positioned to open sharply lower Friday morning after the company’s soft subscription guidance, investors should monitor how the price responds to support near a key 澳洲幸运5官方开奖结果体彩网:horizontal line around $238 that closely aligns with a significant November-price gap. A decisive close below this crucial level could lead to a deeper pullback to longer-term support at the $205 region.

Workday shares fell 11.2%⭕ to $231.60 in after-hours trading.

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As of the date this article was written, the author does not own any of the above securities.