KeyBanc analyst Jason Celino notes that several news sources lead the firm to believe that Workday (WDAY) was awarded a one-year federal contract on May 2 from the Office of Personnel Management. While financial details were not disclosed, the firm views this potential win as a “significant positive” given that the U.S. federal government and public sector is one of Workday’s focused emerging growth areas. Given concerns sparked by DOGE cost-cutting efforts, the firm also believes investors are concerned that any federal deals in Workday’s pipeline could be delayed, the analyst added.
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