We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Workday (WDAY) Stock Moves -0.14%: What You Should Know
Read MoreHide Full Article
In the latest market close, Workday (WDAY - Free Report) reached $236.68, with a -0.14% movement compared to the previous day. This move was narrower than the S&P 500's daily loss of 0.2%. On the other hand, the Dow registered a loss of 0.18%, and the technology-centric Nasdaq decreased by 0.59%.
Heading into today, shares of the maker of human resources software had gained 13.09% over the past month, outpacing the Computer and Technology sector's gain of 10.56% and the S&P 500's gain of 7.87% in that time.
The investment community will be closely monitoring the performance of Workday in its forthcoming earnings report. The company is scheduled to release its earnings on November 28, 2023. The company is forecasted to report an EPS of $1.40, showcasing a 41.41% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $1.84 billion, indicating a 15.34% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.58 per share and revenue of $7.22 billion. These totals would mark changes of +53.3% and +16.17%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Workday. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Workday presently features a Zacks Rank of #2 (Buy).
In the context of valuation, Workday is at present trading with a Forward P/E ratio of 42.46. This signifies a premium in comparison to the average Forward P/E of 35.92 for its industry.
It's also important to note that WDAY currently trades at a PEG ratio of 1.58. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Internet - Software stocks are, on average, holding a PEG ratio of 1.61 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 43, placing it within the top 18% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow WDAY in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Workday (WDAY) Stock Moves -0.14%: What You Should Know
In the latest market close, Workday (WDAY - Free Report) reached $236.68, with a -0.14% movement compared to the previous day. This move was narrower than the S&P 500's daily loss of 0.2%. On the other hand, the Dow registered a loss of 0.18%, and the technology-centric Nasdaq decreased by 0.59%.
Heading into today, shares of the maker of human resources software had gained 13.09% over the past month, outpacing the Computer and Technology sector's gain of 10.56% and the S&P 500's gain of 7.87% in that time.
The investment community will be closely monitoring the performance of Workday in its forthcoming earnings report. The company is scheduled to release its earnings on November 28, 2023. The company is forecasted to report an EPS of $1.40, showcasing a 41.41% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $1.84 billion, indicating a 15.34% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.58 per share and revenue of $7.22 billion. These totals would mark changes of +53.3% and +16.17%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Workday. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Workday presently features a Zacks Rank of #2 (Buy).
In the context of valuation, Workday is at present trading with a Forward P/E ratio of 42.46. This signifies a premium in comparison to the average Forward P/E of 35.92 for its industry.
It's also important to note that WDAY currently trades at a PEG ratio of 1.58. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Internet - Software stocks are, on average, holding a PEG ratio of 1.61 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 43, placing it within the top 18% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow WDAY in the coming trading sessions, be sure to utilize Zacks.com.