Better Times Ahead For Workday Inc (NASDAQ: WDAY)?

Workday Inc (WDAY) concluded trading on Thursday at a closing price of $231.08, with 4.18 million shares of worth about $965.11 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -24.64% during that period and on August 22, 2024 the price saw a loss of about -1.04%. Currently the company’s common shares owned by public are about 210.67M shares, out of which, 208.42M shares are available for trading.

However, the stock later moved at a day high price of 236.51, or with a loss of -1.04%. Stock saw a price change of -0.21% in past 5 days and over the past one month there was a price change of 4.79%. Year-to-date (YTD), WDAY shares are showing a performance of -16.29% which increased to 2.13% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $199.81 but also hit the highest price of $311.28 during that period. The average intraday trading volume for Workday Inc shares is 2.64 million. The stock is currently trading 4.12% above its 20-day simple moving average (SMA20), while that difference is up 4.06% for SMA50 and it goes to -8.92% lower than SMA200.

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Workday Inc (NASDAQ: WDAY) currently have 210.67M outstanding shares and institutions hold larger chunk of about 70.57% of that.

The stock has a current market capitalization of $61.24B and its 3Y-monthly beta is at 1.34. PE ratio of stock for trailing 12 months is 41.72, while it has posted earnings per share of $5.54 in the same period. Its PEG reads 2.47 and has Quick Ratio of 1.95 while making debt-to-equity ratio of 0.41. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for WDAY, volatility over the week remained 1.53% while standing at 2.63% over the month.

Stock’s fiscal year EPS is expected to rise by 17.65% while it is estimated to increase by 15.47% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BMO Capital Markets on May 24, 2024 offering an Outperform rating for the stock and assigned a target price range of between $338 and $300 to it. Coverage by Needham stated Workday Inc (WDAY) stock as a Buy in their note to investors on February 27, 2024, suggesting a price target of $350 for the stock. On January 10, 2024, DA Davidson Resumed their recommendations, while on January 04, 2024, KeyBanc Capital Markets Resumed their ratings for the stock with a price target of $310. Stock get an Outperform rating from BMO Capital Markets on November 29, 2023.

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