Workday (WDAY) Earnings Preview & Co-CEO To Step Down

Workday's (WDAY) valuation still appears high as the market reprices tech and cloud companies, says Kevin Green. He and Julie Bhusal Sharma preview WDAY earnings. They talk about how earnings will be released, today February 27th, postmarket. They note that 4Q earnings estimates came in at $0.89 adjusted EPS and $1.63B in revenue. Kevin also says that WDAY hit resistance at $190 level signaling potential short term pullback. They talk about how WDAY announced that co-CEO and board of directors' member, Chano Fernandez is stepping down immediately from both roles and Carl Eschenbach will be stepping in as co-CEO. Julie says that while the announcement came as a surprise, Morningstar remains confident that Workday's wide moat will remain strong, continuing its positive moat trend. Tune in to find out more about the stock market today.