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Workday (WDAY) Gains As Market Dips: What You Should Know
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In the latest trading session, Workday (WDAY - Free Report) closed at $184.37, marking a +1.35% move from the previous day. This move outpaced the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq gained 1.58%.
Coming into today, shares of the maker of human resources software had gained 5.44% in the past month. In that same time, the Computer and Technology sector gained 0.99%, while the S&P 500 gained 0.84%.
Workday will be looking to display strength as it nears its next earnings release, which is expected to be February 27, 2023. In that report, analysts expect Workday to post earnings of $0.89 per share. This would mark year-over-year growth of 14.1%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.63 billion, up 18.63% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Workday. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 moved 0.93% lower. Workday is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Workday's current valuation metrics, including its Forward P/E ratio of 39.24. This valuation marks a discount compared to its industry's average Forward P/E of 41.57.
Also, we should mention that WDAY has a PEG ratio of 1.77. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Internet - Software stocks are, on average, holding a PEG ratio of 1.75 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Workday (WDAY) Gains As Market Dips: What You Should Know
In the latest trading session, Workday (WDAY - Free Report) closed at $184.37, marking a +1.35% move from the previous day. This move outpaced the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq gained 1.58%.
Coming into today, shares of the maker of human resources software had gained 5.44% in the past month. In that same time, the Computer and Technology sector gained 0.99%, while the S&P 500 gained 0.84%.
Workday will be looking to display strength as it nears its next earnings release, which is expected to be February 27, 2023. In that report, analysts expect Workday to post earnings of $0.89 per share. This would mark year-over-year growth of 14.1%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.63 billion, up 18.63% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Workday. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 moved 0.93% lower. Workday is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Workday's current valuation metrics, including its Forward P/E ratio of 39.24. This valuation marks a discount compared to its industry's average Forward P/E of 41.57.
Also, we should mention that WDAY has a PEG ratio of 1.77. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Internet - Software stocks are, on average, holding a PEG ratio of 1.75 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.