Wall Street analysts expect Workday Inc (NASDAQ:WDAY) to post $814.68 million in sales for the current quarter, Zacks reports. Thirty Six analysts have made estimates for Workday’s earnings. The lowest sales estimate is $812.43 million and the highest is $824.50 million. Workday reported sales of $618.64 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 31.7%. The company is expected to issue its next quarterly earnings report on Thursday, May 30th.
According to Zacks, analysts expect that Workday will report full-year sales of $3.55 billion for the current financial year, with estimates ranging from $3.53 billion to $3.62 billion. For the next financial year, analysts anticipate that the business will report sales of $4.36 billion, with estimates ranging from $4.19 billion to $4.55 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Workday.
Several research analysts have weighed in on the company. Stifel Nicolaus upped their price target on Workday to $160.00 and gave the stock a “hold” rating in a research note on Friday, November 30th. Societe Generale set a $130.00 target price on Workday and gave the company a “sell” rating in a research report on Friday, November 30th. Credit Suisse Group increased their price target on Workday from $150.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, November 30th. Monness Crespi & Hardt restated a “buy” rating and set a $220.00 price target (up previously from $185.00) on shares of Workday in a report on Tuesday, February 26th. Finally, Morgan Stanley increased their target price on Workday from $154.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, December 3rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $187.86.
Hedge funds and other institutional investors have recently modified their holdings of the business. Nvwm LLC boosted its holdings in Workday by 2.6% in the fourth quarter. Nvwm LLC now owns 5,073 shares of the software maker’s stock worth $810,000 after acquiring an additional 127 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Workday by 0.8% in the fourth quarter. State of Alaska Department of Revenue now owns 17,941 shares of the software maker’s stock worth $2,864,000 after purchasing an additional 144 shares during the last quarter. Essex Investment Management Co. LLC purchased a new position in shares of Workday in the fourth quarter worth about $980,000. Avitas Wealth Management LLC raised its stake in shares of Workday by 2.9% in the third quarter. Avitas Wealth Management LLC now owns 11,058 shares of the software maker’s stock worth $1,614,000 after purchasing an additional 308 shares during the last quarter. Finally, Cypress Asset Management Inc. TX raised its stake in shares of Workday by 175.7% in the fourth quarter. Cypress Asset Management Inc. TX now owns 11,620 shares of the software maker’s stock worth $1,855,000 after purchasing an additional 7,405 shares during the last quarter. 69.10% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:WDAY traded up $4.02 during mid-day trading on Tuesday, reaching $191.53. 1,654,886 shares of the company traded hands, compared to its average volume of 2,087,560. Workday has a 52 week low of $117.24 and a 52 week high of $200.00. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.52. The company has a market cap of $41.07 billion, a PE ratio of -156.99 and a beta of 1.82.
Workday Company Profile
Workday, Inc provides enterprise cloud applications for finance and human resources worldwide. It provides applications for customers to manage critical business functions to optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, employee expense and revenue management, projects, procurement, inventory, and grants management.
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