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Workday (WDAY) Falls More Steeply Than Broader Market: What Investors Need to Know
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In the latest trading session, Workday (WDAY - Free Report) closed at $229.38, marking a -3.49% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.37%. Meanwhile, the Dow lost 0.74%, and the Nasdaq, a tech-heavy index, lost 0.03%.
Shares of the maker of human resources software have depreciated by 0.03% over the course of the past month, underperforming the Computer and Technology sector's gain of 4.58%, and the S&P 500's gain of 2.68%.
Analysts and investors alike will be keeping a close eye on the performance of Workday in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $2.09, reflecting a 19.43% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $2.34 billion, up 12.22% from the year-ago period.
WDAY's full-year Zacks Consensus Estimates are calling for earnings of $8.7 per share and revenue of $9.5 billion. These results would represent year-over-year changes of +19.18% and +12.44%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Workday. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.05% downward. Workday is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Workday's current valuation metrics, including its Forward P/E ratio of 27.31. Its industry sports an average Forward P/E of 28.48, so one might conclude that Workday is trading at a discount comparatively.
Meanwhile, WDAY's PEG ratio is currently 1.45. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Software industry had an average PEG ratio of 2.18 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 73, placing it within the top 30% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Workday (WDAY) Falls More Steeply Than Broader Market: What Investors Need to Know
In the latest trading session, Workday (WDAY - Free Report) closed at $229.38, marking a -3.49% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.37%. Meanwhile, the Dow lost 0.74%, and the Nasdaq, a tech-heavy index, lost 0.03%.
Shares of the maker of human resources software have depreciated by 0.03% over the course of the past month, underperforming the Computer and Technology sector's gain of 4.58%, and the S&P 500's gain of 2.68%.
Analysts and investors alike will be keeping a close eye on the performance of Workday in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $2.09, reflecting a 19.43% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $2.34 billion, up 12.22% from the year-ago period.
WDAY's full-year Zacks Consensus Estimates are calling for earnings of $8.7 per share and revenue of $9.5 billion. These results would represent year-over-year changes of +19.18% and +12.44%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Workday. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.05% downward. Workday is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Workday's current valuation metrics, including its Forward P/E ratio of 27.31. Its industry sports an average Forward P/E of 28.48, so one might conclude that Workday is trading at a discount comparatively.
Meanwhile, WDAY's PEG ratio is currently 1.45. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Software industry had an average PEG ratio of 2.18 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 73, placing it within the top 30% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.