As of May 26, 2023, DA Davidson’s analyst Robert Simmons has upheld his Buy rating for Workday (NASDAQ:WDAY), while increasing the price target from $220 to $240. Simmons’ evaluation of the company’s current performance and future potential has led him to this decision. Workday has been analyzed by numerous other experts in the field, with the average price target being $217.20 and the highest forecast being $250. However, some analysts have provided a lower price target, with the lowest being $142.00. It is important to keep in mind that these price targets are not set in stone and can be influenced by various factors, including market conditions and the overall performance of the company.
Workday Inc. Stock Performance: May 26, 2023 and Future Growth Forecast
On May 26, 2023, Workday Inc. (WDAY) opened at $214.78, a significant increase from its previous close of $196.46. Throughout the day, WDAY stock experienced a day’s range of $211.31 to $218.69, with a volume of 235,108.
Workday Inc. has a market cap of $51.0B and is part of the Technology Services sector, specifically the Information Technology Services industry. The company’s earnings growth last year was -1,311.45%, but this year, it has experienced a significant increase of +40.33%. The expected earnings growth for the next five years is +29.32%, and the revenue growth last year was +20.42%.
WDAY’s P/E ratio is NM (not meaningful), and its price/sales ratio is 7.46, while its price/book ratio is 9.08.
On May 26, 2023, Workday Inc. was among the top gainers in the Information Technology Services industry, with a change of +$2.10 or +1.0%.
Workday Inc.’s next reporting date is August 31, 2023, and the EPS forecast for this quarter is $1.22. The company’s annual revenue for the last year was $6.2B, with an annual profit of -$366.7M. The net profit margin for the company is -5.92%.
Workday Inc. is headquartered in Pleasanton, California, but there are no executives to display. Overall, Workday Inc.’s stock performance on May 26, 2023, was positive, with a significant increase in its opening price and a small gain throughout the day. The company’s earnings growth this year is promising, and its expected earnings growth for the next five years is positive. However, investors should be cautious of the stock’s relatively high price/sales and price/book ratios.
Workday Incs Stock Performance and Growth Outlook for May 26, 2023 and Beyond
On May 26, 2023, Workday Inc’s stock (WDAY) closed at $217.61, which was a slight decrease from the previous day’s closing price of $219.28. However, according to the 35 analysts offering 12-month price forecasts for Workday Inc, the median target price is $240.00. The current consensus among 40 polled investment analysts is to buy stock in Workday Inc. Workday Inc is a cloud-based software company that provides human resources, financial management, and analytics applications for businesses. The company has been experiencing steady growth in recent years, and its revenue for the current quarter is expected to be $1.8 billion, with earnings per share of $1.22. Overall, the outlook for Workday Inc’s stock performance on May 26, 2023, and beyond seems positive.
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