Market Analysts see Workday Inc. [WDAY] gaining to $309. Time to buy?



Workday Inc. [NASDAQ: WDAY] gained 1.88% or 4.45 points to close at $241.23 with a heavy trading volume of 2562884 shares. The company report on March 23, 2022 that Workday Sees Continued Momentum with Large Enterprises Deploying Its Finance Solutions.

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More Global Organizations Deploy Workday to Support Accelerating Digital Finance Transformation Strategies .

Workday (NASDAQ:WDAY), a leader in enterprise cloud applications for finance and human resources, today announced continued momentum for its office of finance solutions, as large enterprises around the world continue deploying Workday to help drive digital finance transformation strategies. In the company’s fiscal 2022 fourth quarter, customers including American Financial Group, Bon Secours Mercy Health, Christmas Tree Shops, Federal National Mortgage Association (Fannie Mae), Nuffield Health, Sharp HealthCare, and SS&C Technologies deployed Workday finance solutions to help manage performance and growth and drive business-critical decisions.

It opened the trading session at $238.26, the shares rose to $241.73 and dropped to $233.00, the range by which the price of stock traded the whole day. The daily chart for WDAY points out that the company has recorded -10.68% loss over the past six months. However, it is still -17.16% lower than its most recent low trading price.

If we look at the average trading volume of 2.38M shares, WDAY reached to a volume of 2562884 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Workday Inc. [WDAY]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WDAY shares is $315.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WDAY stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Societe Generale have made an estimate for Workday Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 01, 2022. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $325 to $340. The new note on the price target was released on March 01, 2022, representing the official price target for Workday Inc. stock. Previously, the target price had yet another raise from $250 to $275, while UBS kept a Buy rating on WDAY stock. On March 01, 2022, analysts decreased their price target for WDAY shares from 320 to 300.

The Average True Range (ATR) for Workday Inc. is set at 9.77, with the Price to Sales ratio for WDAY stock in the period of the last 12 months amounting to 11.38. The Price to Book ratio for the last quarter was 13.30, with the Price to Cash per share for the same quarter was set at 15.03. Price to Free Cash Flow for WDAY in the course of the last twelve months was 39.54 with Quick ratio for the last quarter at 1.00.

Trading performance analysis for WDAY stock

Workday Inc. [WDAY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.52. With this latest performance, WDAY shares gained by 13.25% in over the last four-week period, additionally sinking by -10.68% over the last 6 months – not to mention a drop of -2.00% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WDAY stock in for the last two-week period is set at 54.59, with the RSI for the last a single of trading hit 57.64, and the three-weeks RSI is set at 52.21 for Workday Inc. [WDAY]. The present Moving Average for the last 50 days of trading for this stock 235.83, while it was recorded at 241.72 for the last single week of trading, and 253.67 for the last 200 days.

Workday Inc. [WDAY]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Workday Inc. [WDAY] shares currently have an operating margin of -2.09 and a Gross Margin at +72.26. Workday Inc.’s Net Margin is presently recorded at +0.57.

Return on Equity for this stock inclined to 0.75, with Return on Assets sitting at 0.31.

Workday Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.

Workday Inc. [WDAY]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WDAY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Workday Inc. go to 13.26%.

An analysis of insider ownership at Workday Inc. [WDAY]

There are presently around $43,033 million, or 93.00% of WDAY stock, in the hands of institutional investors. The top three institutional holders of WDAY stocks are: VANGUARD GROUP INC with ownership of 12,013,022, which is approximately 2.06% of the company’s market cap and around 0.80% of the total institutional ownership; BLACKROCK INC., holding 11,272,806 shares of the stock with an approximate value of $2.72 billion in WDAY stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $2.35 billion in WDAY stock with ownership of nearly 7.582% of the company’s market capitalization.

475 institutional holders increased their position in Workday Inc. [NASDAQ:WDAY] by around 16,064,185 shares. Additionally, 328 investors decreased positions by around 12,446,714 shares, while 140 investors held positions by with 149,880,877 shares. The mentioned changes placed institutional holdings at 178,391,776 shares, according to the latest SEC report filing. WDAY stock had 150 new institutional investments in for a total of 3,996,310 shares, while 66 institutional investors sold positions of 1,373,346 shares during the same period.