DA Davidson Forecasts Strong Price Appreciation for Workday (NASDAQ:WDAY) Stock

Workday (NASDAQ:WDAY) had its price target lifted by DA Davidson from $230.00 to $250.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the software maker’s stock. DA Davidson’s price target would suggest a potential upside of 5.04% from the stock’s current price. DA Davidson also issued estimates for Workday’s Q2 2026 earnings at $0.93 EPS.

A number of other research analysts have also recently issued reports on WDAY. UBS Group lifted their price objective on Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price objective on Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Daiwa America raised Workday to a “strong-buy” rating in a report on Tuesday, March 4th. KeyCorp lifted their price objective on Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Mizuho cut their price objective on Workday from $320.00 to $275.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Nine analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and a consensus price target of $293.54.

Workday Stock Down 12.5%

WDAY opened at $238.01 on Friday. Workday has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The firm’s fifty day moving average price is $242.57 and its two-hundred day moving average price is $254.22. The company has a market capitalization of $63.31 billion, a P/E ratio of 39.47, a P/E/G ratio of 3.55 and a beta of 1.30.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.22. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the previous year, the company earned $1.74 earnings per share. The business’s revenue was up 12.6% compared to the same quarter last year. On average, analysts anticipate that Workday will post 2.63 EPS for the current year.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 81,275 shares of the company’s stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the sale, the insider now owns 102,997 shares in the company, valued at $22,111,395.96. This represents a 44.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Mark S. Garfield sold 497 shares of the company’s stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total value of $112,595.35. Following the sale, the chief accounting officer now owns 34,385 shares in the company, valued at approximately $7,789,921.75. This represents a 1.42% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 321,724 shares of company stock worth $77,976,126. Corporate insiders own 19.31% of the company’s stock.

Institutional Investors Weigh In On Workday

A number of institutional investors and hedge funds have recently made changes to their positions in WDAY. Vanguard Group Inc. raised its stake in shares of Workday by 28.9% during the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in shares of Workday during the 4th quarter worth approximately $658,735,000. Norges Bank bought a new stake in shares of Workday during the 4th quarter worth approximately $645,710,000. Parnassus Investments LLC raised its stake in shares of Workday by 562.2% during the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock worth $631,589,000 after purchasing an additional 2,078,097 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Workday in the 1st quarter valued at $456,341,000. Institutional investors own 89.81% of the company’s stock.

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.