DA Davidson Forecasts Strong Price Appreciation for Workday (NASDAQ:WDAY) Stock

Workday (NASDAQ:WDAY) had its price target raised by investment analysts at DA Davidson from $225.00 to $260.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the software maker’s stock. DA Davidson’s price objective suggests a potential upside of 11.29% from the company’s previous close.

A number of other research firms have also recently issued reports on WDAY. TD Cowen cut their price objective on shares of Workday from $310.00 to $290.00 and set a “buy” rating on the stock in a research report on Wednesday. Cowen restated a “buy” rating on shares of Workday in a report on Wednesday. KeyCorp lowered their target price on shares of Workday from $325.00 to $285.00 and set an “overweight” rating on the stock in a report on Friday, August 22nd. Wall Street Zen upgraded shares of Workday from a “hold” rating to a “buy” rating in a report on Sunday, July 13th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Workday from $295.00 to $290.00 and set an “overweight” rating on the stock in a report on Friday, August 22nd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $287.83.

Workday Stock Performance

Shares of WDAY opened at $233.62 on Friday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $62.38 billion, a P/E ratio of 108.16, a price-to-earnings-growth ratio of 3.08 and a beta of 1.12. The firm’s fifty day simple moving average is $228.66 and its two-hundred day simple moving average is $237.84. Workday has a 12 month low of $205.33 and a 12 month high of $294.00.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, August 21st. The software maker reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.12. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Workday had a net margin of 6.51% and a return on equity of 9.74%. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.75 earnings per share. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, analysts predict that Workday will post 2.63 EPS for the current year.

Insider Buying and Selling

In other Workday news, CAO Mark S. Garfield sold 451 shares of the company’s stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $234.86, for a total transaction of $105,921.86. Following the completion of the transaction, the chief accounting officer owned 42,977 shares of the company’s stock, valued at $10,093,578.22. This represents a 1.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Zane Rowe sold 6,000 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $239.59, for a total value of $1,437,540.00. Following the completion of the transaction, the chief financial officer directly owned 178,418 shares of the company’s stock, valued at $42,747,168.62. This represents a 3.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 328,024 shares of company stock worth $76,664,934 over the last 90 days. Insiders own 19.31% of the company’s stock.

Hedge Funds Weigh In On Workday

Institutional investors and hedge funds have recently modified their holdings of the company. Rakuten Securities Inc. purchased a new position in Workday during the second quarter valued at $25,000. Cornerstone Planning Group LLC increased its stake in Workday by 76.1% during the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker’s stock worth $28,000 after acquiring an additional 54 shares during the last quarter. Dagco Inc. bought a new stake in Workday during the first quarter worth approximately $31,000. Berbice Capital Management LLC lifted its stake in shares of Workday by 136.4% during the 2nd quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock worth $31,000 after acquiring an additional 75 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. purchased a new stake in shares of Workday in the first quarter valued at approximately $32,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Company Profile

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.