Company Overview
Zacks Rank #1 (Strong Buy) stock Workday (WDAY) is a software platform provider that enables enterprise cloud solutions and a one-stop shop for human resources, finances, and business operations. Medium size and large businesses use Workday’s platform to handle tasks like payroll, employee scheduling, benefits administration, and financial reporting more efficiently.
Consistent Growth Despite Economic Instability
Workday’s revenue growth continues to be driven by high demand for its human capital management (HCM) and financial management solutions. Like many enterprise software companies, the COVID-19 pandemic became a windfall for WDAY. However, unlike its peers, WDAY has sustained consistent and robust growth. Last quarter EPS jumped 58% while revenue shot higher by 17% year-over-year.
Attractive Valuation
The 2022 tech bear market reset the deck of cards for WDAY. While earnings continued to grow, WDAY stock continued to fall. Now, WDAY’s price-to-earnings ratio is at multi-year lows.
Meanwhile, earnings are expected to hit all-time highs, with the stock still well off its highs – a bullish sign.
Bullish Chart Pattern
WDAY shares are retreating to the 50-day moving average for the first time in months. Typically, the first pullback to the 50-day moving average is an area of attractive reward-to-risk.
Relative Strength
Relative price strength measures the performance of a particular stock in relation to a benchmark (most commonly the S&P 500 Index). During market pullbacks, relative strength can be an especially powerful tool. Because three in four stocks follow the market’s direction, most stocks will fall in tandem with the market during weak periods. However, a good clue that a stock may be ready to lead occurs when the stock bucks the market weakness and goes against the tide. The thinking is that if the stock can go up in a down market, then it is likely to outperform when the market regains its footing.
Strong Earnings History & Expectations
WDAY is a consistent eps expectation breaker. The company has delivered positive surprises in the past four quarters that beat analyst expectations.
WDAY’s positive Earnings ESP score suggests that the company will again deliver an earnings beat when it reports on August 24th.
Momentum Going Forward
Solid momentum in Workday’s human capital and financial management portfolio drives top-line growth.
In addition, the company’s cloud-based business model is increasingly gaining traction. Strong emphasis integrating generative AI in Workday products and unique new AI-driven applications in development by the company looks to be a long-term tailwind.
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Company Overview
Zacks Rank #1 (Strong Buy) stock Workday (WDAY) is a software platform provider that enables enterprise cloud solutions and a one-stop shop for human resources, finances, and business operations. Medium size and large businesses use Workday’s platform to handle tasks like payroll, employee scheduling, benefits administration, and financial reporting more efficiently.
Consistent Growth Despite Economic Instability
Workday’s revenue growth continues to be driven by high demand for its human capital management (HCM) and financial management solutions. Like many enterprise software companies, the COVID-19 pandemic became a windfall for WDAY. However, unlike its peers, WDAY has sustained consistent and robust growth. Last quarter EPS jumped 58% while revenue shot higher by 17% year-over-year.
Attractive Valuation
The 2022 tech bear market reset the deck of cards for WDAY. While earnings continued to grow, WDAY stock continued to fall. Now, WDAY’s price-to-earnings ratio is at multi-year lows.
Meanwhile, earnings are expected to hit all-time highs, with the stock still well off its highs – a bullish sign.
Bullish Chart Pattern
WDAY shares are retreating to the 50-day moving average for the first time in months. Typically, the first pullback to the 50-day moving average is an area of attractive reward-to-risk.
Relative Strength
Relative price strength measures the performance of a particular stock in relation to a benchmark (most commonly the S&P 500 Index). During market pullbacks, relative strength can be an especially powerful tool. Because three in four stocks follow the market’s direction, most stocks will fall in tandem with the market during weak periods. However, a good clue that a stock may be ready to lead occurs when the stock bucks the market weakness and goes against the tide. The thinking is that if the stock can go up in a down market, then it is likely to outperform when the market regains its footing.
Strong Earnings History & Expectations
WDAY is a consistent eps expectation breaker. The company has delivered positive surprises in the past four quarters that beat analyst expectations.
WDAY’s positive Earnings ESP score suggests that the company will again deliver an earnings beat when it reports on August 24th.
Momentum Going Forward
Solid momentum in Workday’s human capital and financial management portfolio drives top-line growth.
In addition, the company’s cloud-based business model is increasingly gaining traction. Strong emphasis integrating generative AI in Workday products and unique new AI-driven applications in development by the company looks to be a long-term tailwind.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
Get the latest research report on WDAY - FREE