Workday (NASDAQ:WDAY) Given New $288.00 Price Target at Barclays

Key Points

• Barclays has increased its target price for Workday (NASDAQ: WDAY) from $285.00 to $288.00, indicating a potential upside of 22.62% from its current price and maintaining an "overweight" rating.
• Multiple analysts have rated Workday with a mix of ratings, resulting in an average rating of "Moderate Buy" and an average target price of $287.48.
• Workday reported a quarterly EPS of $2.21, exceeding analysts' expectations, with a year-over-year revenue growth of 12.6% valued at $2.35 billion.

Workday (NASDAQ:WDAY - Free Report) had its price objective upped by Barclays from $285.00 to $288.00 in a research note published on Thursday, MarketBeat reports. They currently have an overweight rating on the software maker's stock.

WDAY has been the topic of a number of other reports. KeyCorp dropped their target price on shares of Workday from $325.00 to $285.00 and set an "overweight" rating on the stock in a research report on Friday, August 22nd. Oppenheimer dropped their price objective on shares of Workday from $300.00 to $270.00 and set an "outperform" rating on the stock in a report on Friday, August 22nd. Stifel Nicolaus lowered their price objective on shares of Workday from $275.00 to $255.00 and set a "hold" rating on the stock in a research report on Friday, August 22nd. Cantor Fitzgerald reissued an "overweight" rating and issued a $265.00 price target on shares of Workday in a report on Wednesday, September 17th. Finally, Wells Fargo & Company dropped their target price on shares of Workday from $325.00 to $300.00 and set an "overweight" rating on the stock in a report on Monday, August 18th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $287.83.

Workday Stock Up 2.4%

Shares of NASDAQ:WDAY traded up $5.72 during trading on Thursday, reaching $239.34. 1,624,492 shares of the stock traded hands, compared to its average volume of 2,592,704. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.10 and a current ratio of 2.10. Workday has a 52-week low of $205.33 and a 52-week high of $294.00. The stock has a market cap of $63.90 billion, a P/E ratio of 110.85, a price-to-earnings-growth ratio of 3.08 and a beta of 1.12. The stock has a 50-day moving average of $228.66 and a two-hundred day moving average of $237.73.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings results on Thursday, August 21st. The software maker reported $2.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.09 by $0.12. Workday had a net margin of 6.51% and a return on equity of 9.74%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the previous year, the firm posted $1.75 EPS. Workday's revenue for the quarter was up 12.6% compared to the same quarter last year. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, sell-side analysts expect that Workday will post 2.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 78,564 shares of the company's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $220.12, for a total value of $17,293,507.68. Following the transaction, the insider directly owned 102,997 shares in the company, valued at approximately $22,671,699.64. This represents a 43.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Richard Harry Sauer sold 1,160 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $235.41, for a total transaction of $273,075.60. Following the transaction, the insider owned 95,756 shares of the company's stock, valued at approximately $22,541,919.96. The trade was a 1.20% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 328,024 shares of company stock worth $76,664,934. Insiders own 20.00% of the company's stock.

Hedge Funds Weigh In On Workday

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in Workday by 230.2% during the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker's stock valued at $1,033,000 after purchasing an additional 2,792 shares during the period. Bank Pictet & Cie Europe AG lifted its position in Workday by 24.0% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 3,075 shares of the software maker's stock worth $793,000 after buying an additional 595 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of Workday in the 4th quarter valued at $17,828,000. Waverly Advisors LLC acquired a new position in Workday during the 4th quarter worth $432,000. Finally, Focus Partners Advisor Solutions LLC boosted its position in shares of Workday by 28.7% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 1,405 shares of the software maker's stock valued at $363,000 after purchasing an additional 313 shares during the period. Hedge funds and other institutional investors own 89.81% of the company's stock.

About Workday

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.