DA Davidson Boosts Workday (NASDAQ:WDAY) Price Target to $240.00

Posted by Max Byerly on May 26th, 2023

Workday (NASDAQ:WDAY – Get Rating) had its target price increased by stock analysts at DA Davidson from $220.00 to $240.00 in a research note issued to investors on Friday, The Fly reports. DA Davidson’s price objective would suggest a potential upside of 22.19% from the company’s previous close.

Several other equities analysts have also recently issued reports on the stock. Loop Capital boosted their target price on shares of Workday from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Tuesday, February 28th. Citigroup boosted their price target on shares of Workday from $203.00 to $220.00 in a report on Friday. StockNews.com started coverage on shares of Workday in a report on Thursday, May 18th. They issued a “hold” rating for the company. Credit Suisse Group reissued a “neutral” rating and issued a $195.00 price target on shares of Workday in a report on Wednesday, March 1st. Finally, Piper Sandler boosted their price target on shares of Workday from $184.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $218.64.

Workday Stock Performance

WDAY opened at $196.41 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.75 and a quick ratio of 1.75. The firm has a fifty day moving average price of $186.71 and a 200 day moving average price of $188.11. Workday has a 1 year low of $128.72 and a 1 year high of $206.68. The stock has a market cap of $50.87 billion, a P/E ratio of -136.40, a P/E/G ratio of 17.02 and a beta of 1.28.

Workday (NASDAQ:WDAY – Get Rating) last posted its earnings results on Thursday, May 25th. The software maker reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.19. Workday had a negative net margin of 5.90% and a negative return on equity of 1.96%. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the business posted ($0.17) EPS. The business’s revenue was up 17.4% compared to the same quarter last year. Equities research analysts anticipate that Workday will post 0.45 earnings per share for the current year.

Insider Buying and Selling at Workday

In other Workday news, insider Sayan Chakraborty sold 8,836 shares of the company’s stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of $196.37, for a total value of $1,735,125.32. Following the transaction, the insider now owns 85,765 shares of the company’s stock, valued at $16,841,673.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Barbara A. Larson sold 7,059 shares of the stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of $196.37, for a total transaction of $1,386,175.83. Following the sale, the chief financial officer now owns 67,881 shares of the company’s stock, valued at $13,329,791.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sayan Chakraborty sold 8,836 shares of the stock in a transaction dated Wednesday, April 5th. The stock was sold at an average price of $196.37, for a total transaction of $1,735,125.32. Following the sale, the insider now directly owns 85,765 shares in the company, valued at approximately $16,841,673.05. The disclosure for this sale can be found here. Insiders have sold 43,469 shares of company stock valued at $8,469,440 over the last 90 days. 21.09% of the stock is owned by insiders.

Institutional Trading of Workday

Hedge funds have recently made changes to their positions in the business. Atticus Wealth Management LLC acquired a new stake in shares of Workday during the first quarter worth about $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Workday during the first quarter worth about $25,000. Elequin Securities LLC acquired a new stake in shares of Workday during the fourth quarter worth about $27,000. Guardian Wealth Advisors LLC acquired a new stake in shares of Workday during the third quarter worth about $29,000. Finally, West Oak Capital LLC acquired a new stake in shares of Workday during the first quarter worth about $29,000. Institutional investors and hedge funds own 66.98% of the company’s stock.

Workday Company Profile

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Workday, Inc engages in the development of enterprise cloud applications for finance and human resources. It delivers financial management, human capital management and analytics applications designed for companies, educational institutions and government agencies. The company was founded by David A.