Overview

• Shares rose about 7% on Sept. 17 after Elliott disclosed roughly $2 billion in Workday stock and Guggenheim upgraded the shares to buy with a $285 target.
• Workday plans to acquire AI workplace-knowledge firm Sana for about $1.1 billion to expand its product capabilities.
• Fiscal Q2 2026 revenue reached $2.35 billion, up 12.6% year over year, with earnings of $2.21 per share and an operating margin reported at 29%.
• Subscription revenue backlog grew nearly 18% in the quarter, outpacing revenue growth and pointing to potential acceleration ahead.
• AI-driven sales gained traction as AI revenue more than doubled year over year, with over 30% of customer deals and more than 75% of net new deals including at least one AI product.