Workday (NASDAQ:WDAY) Upgraded by Guggenheim to "Buy" Rating

Key Points

• Workday was upgraded by Guggenheim from a "neutral" rating to a "buy" rating, with a price target of $285.00, indicating a potential upside of 30.13% from its previous close.
• Other analysts have also lowered their price targets for Workday, with KeyCorp and BMO Capital Markets setting targets at $285.00, while Royal Bank of Canada has maintained a target of $340.00.
• Workday recently reported earnings of $2.21 per share, surpassing analyst expectations and showing a 12.6% increase in revenue compared to the same quarter last year.

Workday (NASDAQ:WDAY - Get Free Report) was upgraded by stock analysts at Guggenheim from a "neutral" rating to a "buy" rating in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm currently has a $285.00 price objective on the software maker's stock. Guggenheim's price target would suggest a potential upside of 30.13% from the stock's previous close.

A number of other equities research analysts also recently issued reports on the stock. KeyCorp lowered their target price on shares of Workday from $325.00 to $285.00 and set an "overweight" rating for the company in a report on Friday, August 22nd. BMO Capital Markets decreased their price objective on shares of Workday from $314.00 to $285.00 and set an "outperform" rating for the company in a research note on Friday, August 22nd. Wall Street Zen upgraded shares of Workday from a "hold" rating to a "buy" rating in a research note on Sunday, July 13th. Royal Bank Of Canada reiterated an "outperform" rating and set a $340.00 price objective on shares of Workday in a research note on Friday, August 22nd. Finally, DA Davidson boosted their price objective on shares of Workday from $230.00 to $250.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $287.30.

Workday Stock Performance

Shares of WDAY opened at $219.01 on Wednesday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.33. The stock has a market cap of $58.48 billion, a P/E ratio of 101.39, a PEG ratio of 3.10 and a beta of 1.12. The company has a 50-day moving average of $228.48 and a two-hundred day moving average of $238.30. Workday has a 12-month low of $205.33 and a 12-month high of $294.00.

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

Insider Buying and Selling

In other news, CAO Mark S. Garfield sold 451 shares of the company's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $234.86, for a total value of $105,921.86. Following the transaction, the chief accounting officer owned 42,977 shares in the company, valued at $10,093,578.22. This represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Richard Harry Sauer sold 1,160 shares of the company's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $226.63, for a total value of $262,890.80. Following the completion of the transaction, the insider owned 96,916 shares in the company, valued at $21,964,073.08. This represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 233,300 shares of company stock worth $55,764,900 over the last ninety days. 20.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Workday

Hedge funds have recently modified their holdings of the business. Rakuten Securities Inc. bought a new stake in shares of Workday in the second quarter valued at approximately $25,000. Cornerstone Planning Group LLC boosted its position in shares of Workday by 76.1% in the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock valued at $28,000 after acquiring an additional 54 shares during the period. Dagco Inc. bought a new stake in shares of Workday in the first quarter valued at approximately $31,000. Berbice Capital Management LLC boosted its position in shares of Workday by 136.4% in the second quarter. Berbice Capital Management LLC now owns 130 shares of the software maker's stock valued at $31,000 after acquiring an additional 75 shares during the period. Finally, Farmers & Merchants Investments Inc. bought a new stake in shares of Workday in the first quarter valued at approximately $32,000. 89.81% of the stock is owned by institutional investors.

Workday Company Profile

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.

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