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Workday (WDAY) Outpaces Stock Market Gains: What You Should Know
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Workday (WDAY - Free Report) closed the most recent trading day at $190.30, moving +0.47% from the previous trading session. This change outpaced the S&P 500's 0.07% gain on the day. Meanwhile, the Dow lost 0.21%, and the Nasdaq, a tech-heavy index, added 0.13%.
Prior to today's trading, shares of the maker of human resources software had gained 12.77% over the past month. This has outpaced the Computer and Technology sector's gain of 7.08% and the S&P 500's gain of 5.36% in that time.
Wall Street will be looking for positivity from WDAY as it approaches its next earnings report date. This is expected to be February 28, 2019. On that day, WDAY is projected to report earnings of $0.32 per share, which would represent year-over-year growth of 14.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $776.59 million, up 33.33% from the year-ago period.
Investors should also note any recent changes to analyst estimates for WDAY. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.05% higher within the past month. WDAY is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, WDAY currently has a Forward P/E ratio of 117.71. For comparison, its industry has an average Forward P/E of 49.79, which means WDAY is trading at a premium to the group.
Meanwhile, WDAY's PEG ratio is currently 3.77. 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. The Internet - Software was holding an average PEG ratio of 2.93 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 23, putting it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow WDAY in the coming trading sessions, be sure to utilize Zacks.com.
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Workday (WDAY) Outpaces Stock Market Gains: What You Should Know
Workday (WDAY - Free Report) closed the most recent trading day at $190.30, moving +0.47% from the previous trading session. This change outpaced the S&P 500's 0.07% gain on the day. Meanwhile, the Dow lost 0.21%, and the Nasdaq, a tech-heavy index, added 0.13%.
Prior to today's trading, shares of the maker of human resources software had gained 12.77% over the past month. This has outpaced the Computer and Technology sector's gain of 7.08% and the S&P 500's gain of 5.36% in that time.
Wall Street will be looking for positivity from WDAY as it approaches its next earnings report date. This is expected to be February 28, 2019. On that day, WDAY is projected to report earnings of $0.32 per share, which would represent year-over-year growth of 14.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $776.59 million, up 33.33% from the year-ago period.
Investors should also note any recent changes to analyst estimates for WDAY. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.05% higher within the past month. WDAY is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, WDAY currently has a Forward P/E ratio of 117.71. For comparison, its industry has an average Forward P/E of 49.79, which means WDAY is trading at a premium to the group.
Meanwhile, WDAY's PEG ratio is currently 3.77. 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. The Internet - Software was holding an average PEG ratio of 2.93 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 23, putting it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow WDAY in the coming trading sessions, be sure to utilize Zacks.com.