Workday's (WDAY) Overweight Rating Reaffirmed at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald has reiterated Workday's (WDAY) "overweight" rating with a target price of $265.00, suggesting an upside potential of 10.89% from its current price.
• Workday's stock recently traded up 9.1% to reach $238.98, with a significant trading volume of 4,003,494 shares.
• The company's revenue increased 12.6% year-over-year, with quarterly earnings per share of $2.21, exceeding analyst expectations.

Cantor Fitzgerald restated their overweight rating on shares of Workday (NASDAQ:WDAY - Free Report) in a research note published on Wednesday,Benzinga reports. They currently have a $265.00 price target on the software maker's stock.

A number of other equities analysts have also recently issued reports on the stock. Sanford C. Bernstein reissued an "outperform" rating and set a $304.00 price objective on shares of Workday in a research report on Friday, August 22nd. UBS Group set a $304.00 price target on Workday in a research note on Friday, August 22nd. Wall Street Zen raised Workday from a "hold" rating to a "buy" rating in a research note on Sunday, July 13th. DA Davidson upped their price target on Workday from $230.00 to $250.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Finally, Needham & Company LLC restated a "buy" rating and set a $300.00 price target on shares of Workday in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $287.83.

Workday Trading Up 0.1%

Workday stock traded up $0.12 during mid-day trading on Wednesday, hitting $233.62. 5,925,724 shares of the stock were exchanged, compared to its average volume of 3,765,603. The firm's fifty day simple moving average is $228.46 and its two-hundred day simple moving average is $238.13. Workday has a 12 month low of $205.33 and a 12 month high of $294.00. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $62.38 billion, a price-to-earnings ratio of 108.16, a PEG ratio of 3.08 and a beta of 1.12.

Workday (NASDAQ:WDAY - Get Free Report) last issued its earnings results on Thursday, August 21st. The software maker reported $2.21 earnings per share 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 return on equity of 9.74% and a net margin of 6.51%.The firm's revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.75 earnings per share. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Analysts forecast that Workday will post 2.63 EPS for the current year.

Insiders Place Their Bets

In other Workday news, CFO Zane Rowe sold 6,000 shares of the company's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $239.59, for a total value of $1,437,540.00. Following the completion of the sale, the chief financial officer directly owned 178,418 shares of the company's stock, valued at approximately $42,747,168.62. This represents a 3.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $239.43, for a total transaction of $1,496,437.50. Following the completion of the sale, the chief executive officer directly owned 1,472 shares of the company's stock, valued at $352,440.96. The trade was a 80.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 328,024 shares of company stock worth $76,664,934 in the last ninety days. 19.31% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Workday

Institutional investors have recently added to or reduced their stakes in the company. Rakuten Securities Inc. purchased a new stake in Workday during the second quarter worth about $25,000. Cornerstone Planning Group LLC increased its stake in shares of Workday by 76.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock worth $28,000 after purchasing an additional 54 shares during the last quarter. Dagco Inc. purchased a new position in Workday in the first quarter valued at approximately $31,000. Berbice Capital Management LLC grew its holdings in Workday by 136.4% during the second quarter. Berbice Capital Management LLC now owns 130 shares of the software maker's stock valued at $31,000 after purchasing an additional 75 shares during the period. Finally, Farmers & Merchants Investments Inc. bought a new position in Workday during the first quarter valued at $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.