--- title: "Workday stock price: could WDAY hit $300 after earnings?" description: "Workday's (WDAY) stock has rebounded after a decline in August, nearing its highest level since April 8 ahead of earnings. The company, a major player in software solutions for HR and analytics, has s" type: "news" locale: "en" url: "https://longbridge.com/en/news/220523054.md" published_at: "2024-11-24T06:47:56.000Z" --- # Workday stock price: could WDAY hit $300 after earnings? > Workday's (WDAY) stock has rebounded after a decline in August, nearing its highest level since April 8 ahead of earnings. The company, a major player in software solutions for HR and analytics, has seen significant growth, with annual revenue rising from $2.6 billion in 2019 to $5.2 billion last year. Analysts expect a 14.2% revenue increase to $1.13 billion for the upcoming quarter. Despite a bullish stock pattern, concerns about valuation persist, with a rule of 40 figure at 35 and recent forecast downgrades from Needham. Workday’s (WDAY) stock price has crawled back after tumbling to $200 in August as the unwinding of the Japanese yen carry trade occurred. It has bounced back to $270 and is hovering near its highest level since April 8 ahead of its upcoming earnings. ## Workday had been a top performer Workday is one of the biggest software companies globally, offering important solutions like human resources, payroll, planning, and analytics. It is used by over 10,000 customers globally, a figure that is continuing to grow. Its clients include about 60% of all Fortune 500 companies, with some of the recent wins including Lowe’s, GE Vernova, Ryder, and Cushman & Wakefield. Workday’s performance has been strong over time as it added more clients and new products. Its annual revenue jumped from $3.6 billion in 2019 to $7.2 billion in the last financial year. It has also become a highly profitable company, with its annual profit jumping to $1.3 billion, a figure that will continue improving. Workday has benefited from various themes in the past few decades. For example, it has incorporated artificial intelligence in its operations, helping to boost its clients’ productivity. Companies using its AI solutions can improve the hiring process, save time, and easily hire qualified individuals. Workday’s other benefit is that it has little churn in its operations. Once a company like Salesforce becomes a client, there is little chance that it will move to another provider unless of a major issue. As such, in most cases, Workday’s churn is usually less than 1%. The other benefit is that it operates in an industry with a large addressable market. The human capital sector is a $58 billion market, while the corporate financial segment is an $84 billion one. ## WDAY earnings ahead The Workday stock price will be in the spotlight this week as it publishes its financial results. The most recent numbers showed that the company’s growth was still strong, helped by its subscriptions. Revenue jumped by 16.7% to $2.085 billion as subscriptions jumped to $1.9 billion. Workday’s backlog continued rising, with the 12-month rising to $6.80 billion and the total one reaching $21.58 billion. Its operating cash flow was $571 million, higher than the $425 million it made last year. Analysts expect that Workday’s business continued to do well last quarter. Precisely, the average revenue estimate is $2.13 billion, a 14.2% increase from the same period last year. The highest estimate is $2.15 billion, while the lowest one is $2.11 billion. Workday’s forward revenue guidance for the fourth quarter will be $2.2 billion, bringing the annual figure to $8.4 billion. In terms of earnings, analysts see Workday’s EPS rising to $1.76 and the annual one reaching $7.7. Chances are that Workday’s earnings will be higher than estimates as it has done in the past few years. ## Workday stock price analysis WDAY chart by TradingView The WDAY share price has bounced back in the past three months and moved above the key psychological level at $250. It has formed a golden cross pattern as the 50-day and 200-day Exponential Moving Averages (EMA) crossed each other. In most periods, this is one of the most bullish signs in the market. Workday shares have also moved slightly above the key resistance level at $266.4, its highest swing on August 6. The Relative Strength Index (RSI) and the MACD indicators have also continued rising. Therefore, there is a likelihood that the Workday stock price will continue rising as bulls target the next key resistance at $300.Still, there are concerns about its valuation. Its rule of 40 figures, which is made up of the net income margin and revenue growth, stands at 35. Also, Needham analysts recently lowered their WDAY stock forecast. The post Workday stock price: could WDAY hit $300 after earnings? appeared first on Invezz ### Related Stocks - [WDAY.US - Workday](https://longbridge.com/en/quote/WDAY.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | AI vs SaaS：先卖再问，市场只 “卖对了一半”？ | AI 工具对 SaaS 公司的威胁被过度夸大，巴克莱指出，尽管 AI 在应用层面影响 SaaS，但无法撼动其底层基础设施。Anthropic 的新品引发企业软件股大跌，Salesforce 和 Workday 股价在过去 12 个月下跌超 | [Link](https://longbridge.com/en/news/275722884.md) | | AI 会计会是下一个 “杀手级” 应用吗？ | 后台的财务会计流程正成为 AI 变现的潜力领域。AI 能大幅缩减会计人员的手动任务时间，使其转向更高价值的工作，显著提升客户投资回报率。软件供应商如 Intuit（侧重中小企业）和 Workday（面向大企业）正通过产品升级加速价值捕获，其 | [Link](https://longbridge.com/en/news/273846996.md) | | 早盘趋势｜工时公司放量回踩关键支撑，短线反弹机会要来了？ | 1 月 2 日收盘，工时公司（WDAY.US）盘面出现显著波动，整个交易日成交量大幅放大，显示出短线资金激烈博弈态势。早盘阶段，资金一度试图稳住局面，但午盘前股价还是一路逼近 213-215 美元关键支撑区，日内多次探底，买盘虽有所承接但依 | [Link](https://longbridge.com/en/news/271359357.md) | | 早盘趋势｜工时公司连续放量，主升浪要启动了？ | 工时公司（WDAY.US）近期早盘异动明显，连续多个交易日放量上行，社区热度飙升。当前股价已强势站上短期均线，筹码牢固，短线资金博弈加剧。资金面上，北美科技股整体回暖，叠加 SaaS 板块的需求释放，工时公司有望成为新一轮主升浪龙头选手。昨 | [Link](https://longbridge.com/en/news/271359303.md) | | 工时公司的股票陷入熊市：是否是显而易见的投资良机？ | Workday 股票已进入熊市，从 2024 年的高点 310 美元下跌至 155 美元。尽管对人工智能干扰的担忧存在，但公司的收入增长了 12.6%，超过 24 亿美元，分析师预测将继续增长。该股票的前瞻市盈率为 17，低于行业中位数 2 | [Link](https://longbridge.com/en/news/275473740.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.