Needham lifts Workday Inc [WDAY] price estimate. Who else is bullish?

Workday Inc [NASDAQ: WDAY] loss -3.96% on the last trading session, reaching $295.05 price per share at the time. The company report on February 27, 2024 at 8:30 AM that Workday CEO to Present at the Morgan Stanley Technology, Media & Telecom Conference on March 4, 2024.

Workday, Inc. (NASDAQ: WDAY), a leading provider of solutions to help organizations manage their people and money, today announced that Carl Eschenbach, CEO, Workday, will present at the Morgan Stanley Technology, Media & Telecom Conference on March 4, 2024 at 8:45 a.m. Pacific Time / 11:45 a.m. Eastern Time. There will also be a live webcast of the event, available here.

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A replay of the presentation will be available on the Workday Investor Relations site for a minimum of 90 days after the conference takes place.

If compared to the average trading volume of 1.76M shares, WDAY reached a trading volume of 5848911 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 $311.65 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 1.85. 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.

Needham have made an estimate for Workday Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 27, 2024. While these analysts kept the previous recommendation, DA Davidson raised their target price to Neutral. The new note on the price target was released on January 10, 2024, representing the official price target for Workday Inc stock. Previously, the target price had yet another raise to $310, while KeyBanc Capital Markets analysts kept a Overweight rating on WDAY stock. On November 29, 2023, analysts increased their price target for WDAY shares from 260 to 290.

The Average True Range (ATR) for Workday Inc is set at 7.03, with the Price to Sales ratio for WDAY stock in the period of the last 12 months amounting to 10.76. The Price to Book ratio for the last quarter was 11.71, with the Price to Cash per share for the same quarter was set at 29.71. Price to Free Cash Flow for WDAY in the course of the last twelve months was 40.39 with Quick ratio for the last quarter at 2.08.

Trading performance analysis for WDAY stock

Workday Inc [WDAY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.29. With this latest performance, WDAY shares gained by 2.22% in over the last four-week period, additionally plugging by 24.51% over the last 6 months – not to mention a rise of 61.12% 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 49.42, with the RSI for the last a single of trading hit 43.55, and the three-weeks RSI is set at 53.19 for Workday Inc [WDAY]. The present Moving Average for the last 50 days of trading for this stock 286.60, while it was recorded at 302.74 for the last single week of trading, and 241.14 for the last 200 days.

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

Workday Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.08 and a Current Ratio set at 1.92.

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

With the latest financial reports released by the company, Workday Inc posted 1.31/share EPS, while the average EPS was predicted by analysts to be reported at 1.12/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 17.00%. 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 26.64%.

An analysis of Institutional ownership at Workday Inc [WDAY]

The top three institutional holders of WDAY stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in WDAY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in WDAY stock with ownership which is approximately 5.8325%.