Equities Analysts Offer Predictions for Workday, Inc.’s Q1 2023 Earnings (NASDAQ:WDAY)

Workday, Inc. (NASDAQ:WDAY) – Stock analysts at Oppenheimer reduced their Q1 2023 earnings per share (EPS) estimates for shares of Workday in a report issued on Wednesday, September 22nd. Oppenheimer analyst R. Mcdonough now forecasts that the software maker will post earnings per share of ($0.04) for the quarter, down from their prior forecast of $0.08. Oppenheimer has a “Buy” rating and a $285.00 price target on the stock. Oppenheimer also issued estimates for Workday’s Q2 2023 earnings at $0.05 EPS, Q3 2023 earnings at ($0.12) EPS, Q4 2023 earnings at ($0.36) EPS and FY2023 earnings at ($0.46) EPS.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Wednesday, August 25th. The software maker reported $1.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.45. Workday had a positive return on equity of 3.49% and a negative net margin of 0.79%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the firm earned $0.84 earnings per share. The company’s revenue was up 18.7% compared to the same quarter last year.

Several other equities research analysts also recently commented on the company. Wolfe Research boosted their price objective on Workday from $270.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, August 30th. Morgan Stanley boosted their price objective on Workday from $305.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, August 27th. Bank of America boosted their price objective on Workday from $300.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 27th. Loop Capital boosted their price objective on Workday from $320.00 to $340.00 and gave the company a “buy” rating in a report on Monday, August 30th. Finally, Stifel Nicolaus boosted their price objective on Workday from $275.00 to $320.00 and gave the company a “buy” rating in a report on Friday, August 27th. Four research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $303.70.

Shares of WDAY opened at $268.43 on Friday. Workday has a 52-week low of $201.62 and a 52-week high of $282.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.04 and a current ratio of 1.04. The business’s 50 day moving average price is $250.47 and its two-hundred day moving average price is $244.76. The firm has a market cap of $66.57 billion, a PE ratio of -1,491.19 and a beta of 1.28.

Several hedge funds and other institutional investors have recently modified their holdings of WDAY. Lone Pine Capital LLC purchased a new position in shares of Workday during the 1st quarter valued at $534,985,000. Whale Rock Capital Management LLC purchased a new stake in Workday during the 1st quarter worth about $384,927,000. Clearbridge Investments LLC lifted its holdings in Workday by 124.8% during the 1st quarter. Clearbridge Investments LLC now owns 2,460,146 shares of the software maker’s stock worth $611,174,000 after purchasing an additional 1,365,598 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Workday by 52.2% during the 1st quarter. Janus Henderson Group PLC now owns 3,314,094 shares of the software maker’s stock worth $823,319,000 after purchasing an additional 1,136,922 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in Workday during the 2nd quarter worth about $129,504,000. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO Aneel Bhusri sold 4,108 shares of the company’s stock in a transaction on Thursday, July 15th. The stock was sold at an average price of $228.37, for a total transaction of $938,143.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Richard Harry Sauer sold 2,469 shares of the company’s stock in a transaction on Thursday, July 15th. The shares were sold at an average price of $228.37, for a total value of $563,845.53. The disclosure for this sale can be found here. In the last three months, insiders sold 299,105 shares of company stock worth $80,910,048. Insiders own 24.06% of the company’s stock.

Workday Company Profile

Workday, Inc engages in the development of enterprise cloud applications for finance and human resources. It delivers financial management, human capital management and analytics applications designed for companies, educational institutions and government agencies. The company was founded by David A.

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Earnings History and Estimates for Workday (NASDAQ:WDAY)

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