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Workday (WDAY) Stock Sinks As Market Gains: What You Should Know
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The most recent trading session ended with Workday (WDAY - Free Report) standing at $256.54, reflecting a -0.56% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.38%. Elsewhere, the Dow saw an upswing of 0.59%, while the tech-heavy Nasdaq appreciated by 0.09%.
Prior to today's trading, shares of the maker of human resources software had gained 5.23% over the past month. This has lagged the Computer and Technology sector's gain of 7.11% and outpaced the S&P 500's gain of 4.9% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Workday in its upcoming earnings disclosure. The company's earnings report is set to go public on November 26, 2024. The company's upcoming EPS is projected at $1.72, signifying a 12.42% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $2.13 billion, indicating a 13.98% growth compared to the corresponding quarter of the prior year.
WDAY's full-year Zacks Consensus Estimates are calling for earnings of $6.97 per share and revenue of $8.39 billion. These results would represent year-over-year changes of +19.35% and +15.6%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Workday. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Workday is carrying a Zacks Rank of #2 (Buy).
In the context of valuation, Workday is at present trading with a Forward P/E ratio of 37.03. This indicates a premium in contrast to its industry's Forward P/E of 32.57.
One should further note that WDAY currently holds a PEG ratio of 1.76. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Internet - Software industry had an average PEG ratio of 2.5.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 59, this industry ranks in the top 24% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Workday (WDAY) Stock Sinks As Market Gains: What You Should Know
The most recent trading session ended with Workday (WDAY - Free Report) standing at $256.54, reflecting a -0.56% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.38%. Elsewhere, the Dow saw an upswing of 0.59%, while the tech-heavy Nasdaq appreciated by 0.09%.
Prior to today's trading, shares of the maker of human resources software had gained 5.23% over the past month. This has lagged the Computer and Technology sector's gain of 7.11% and outpaced the S&P 500's gain of 4.9% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Workday in its upcoming earnings disclosure. The company's earnings report is set to go public on November 26, 2024. The company's upcoming EPS is projected at $1.72, signifying a 12.42% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $2.13 billion, indicating a 13.98% growth compared to the corresponding quarter of the prior year.
WDAY's full-year Zacks Consensus Estimates are calling for earnings of $6.97 per share and revenue of $8.39 billion. These results would represent year-over-year changes of +19.35% and +15.6%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Workday. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Workday is carrying a Zacks Rank of #2 (Buy).
In the context of valuation, Workday is at present trading with a Forward P/E ratio of 37.03. This indicates a premium in contrast to its industry's Forward P/E of 32.57.
One should further note that WDAY currently holds a PEG ratio of 1.76. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Internet - Software industry had an average PEG ratio of 2.5.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 59, this industry ranks in the top 24% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.