Workday Shares Up 14.8% on Better-Than-Expected Earnings (WDAY)
Workday (NASDAQ:WDAY) shares rose 14.8% on Thursday following a better than expected earnings announcement, Analyst Ratings Network reports. The company traded as high as $116.47 and last traded at $115.12, with a volume of 5,463,212 shares. The stock had previously closed at $100.28.
The company reported ($0.13) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.16) by $0.03. The company had revenue of $141.90 million for the quarter, compared to the consensus estimate of $137.91 million. During the same quarter last year, the company posted ($0.16) earnings per share. Workday’s revenue was up 74.1% compared to the same quarter last year.
A number of analysts have recently weighed in on WDAY shares. Analysts at Zacks upgraded shares of Workday from a “neutral” rating to an “outperform” rating in a research note on Thursday. They now have a $103.40 price target on the stock. Separately, analysts at Susquehanna raised their price target on shares of Workday from $80.00 to $110.00 in a research note on Thursday. Finally, analysts at Deutsche Bank raised their price target on shares of Workday from $90.00 to $100.00 in a research note on Thursday. They now have a “hold” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $104.84.
The stock’s 50-day moving average is $92.63 and its 200-day moving average is $81.92. The company’s market cap is $20.083 billion.
Workday, Inc is a provider of enterprise cloud-based applications for human capital management (NASDAQ:WDAY), payroll, financial management, time tracking, procurement and employee expense management.
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