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Workday (WDAY) Stock Moves -0.65%: What You Should Know
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Workday (WDAY - Free Report) closed the most recent trading day at $210.57, moving -0.65% from the previous trading session. On the other hand, the Dow registered a loss of 0.36%, and the technology-centric Nasdaq increased by 0.21%.
Shares of the maker of human resources software have depreciated by 7.86% over the course of the past month, outperforming the Computer and Technology sector's loss of 11.22% and lagging the S&P 500's loss of 4.22%.
The upcoming earnings release of Workday will be of great interest to investors. The company's earnings report is expected on August 22, 2024. The company's upcoming EPS is projected at $1.63, signifying a 13.99% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $2.07 billion, indicating a 15.85% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.77 per share and a revenue of $8.37 billion, indicating changes of +15.92% and +15.25%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Workday. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.12% fall in the Zacks Consensus EPS estimate. Workday is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Workday is at present trading with a Forward P/E ratio of 31.3. This represents a premium compared to its industry's average Forward P/E of 28.84.
One should further note that WDAY currently holds a PEG ratio of 1.67. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Internet - Software was holding an average PEG ratio of 1.79 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Workday (WDAY) Stock Moves -0.65%: What You Should Know
Workday (WDAY - Free Report) closed the most recent trading day at $210.57, moving -0.65% from the previous trading session. On the other hand, the Dow registered a loss of 0.36%, and the technology-centric Nasdaq increased by 0.21%.
Shares of the maker of human resources software have depreciated by 7.86% over the course of the past month, outperforming the Computer and Technology sector's loss of 11.22% and lagging the S&P 500's loss of 4.22%.
The upcoming earnings release of Workday will be of great interest to investors. The company's earnings report is expected on August 22, 2024. The company's upcoming EPS is projected at $1.63, signifying a 13.99% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $2.07 billion, indicating a 15.85% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.77 per share and a revenue of $8.37 billion, indicating changes of +15.92% and +15.25%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Workday. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.12% fall in the Zacks Consensus EPS estimate. Workday is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Workday is at present trading with a Forward P/E ratio of 31.3. This represents a premium compared to its industry's average Forward P/E of 28.84.
One should further note that WDAY currently holds a PEG ratio of 1.67. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Internet - Software was holding an average PEG ratio of 1.79 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.