Workday: Buy the AI Adoption Story at a Modest FCF Multiple
Workday's accelerating AI adoption (agentic AI up ~200% y/y and nearing $500M ARR) paired with a free cash flow yield north of 9% creates a workable trade: buy into the AI-driven re-acceleration at modest FCF multiples, with a tight stop and a 30%+ upside target over the next 45 trading days.