Needham & Company LLC Reaffirms “Buy” Rating for Workday (NASDAQ:WDAY)

Workday (NASDAQ:WDAY)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a report released on Friday,Benzinga reports. They currently have a $300.00 price objective on the software maker’s stock. Needham & Company LLC’s price target would indicate a potential upside of 31.82% from the company’s current price.

WDAY has been the subject of a number of other research reports. Citigroup lowered shares of Workday from a “neutral” rating to a “mixed” rating in a research report on Friday, May 16th. JPMorgan Chase & Co. cut their price objective on shares of Workday from $310.00 to $295.00 and set an “overweight” rating for the company in a research report on Friday, May 23rd. Westpark Capital boosted their price objective on shares of Workday from $315.00 to $328.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. Oppenheimer lowered their target price on shares of Workday from $320.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, May 23rd. Finally, Loop Capital lowered their target price on shares of Workday from $285.00 to $250.00 and set a “hold” rating for the company in a report on Friday, May 23rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Workday has an average rating of “Moderate Buy” and an average price target of $290.56.

Workday Stock Performance

NASDAQ:WDAY opened at $227.58 on Friday. The firm has a 50 day simple moving average of $232.85 and a 200-day simple moving average of $242.98. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a market cap of $60.76 billion, a PE ratio of 125.73, a P/E/G ratio of 3.44 and a beta of 1.24. Workday has a 1-year low of $205.33 and a 1-year high of $294.00.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, August 21st. The software maker reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.12. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.34 billion. Workday had a net margin of 5.60% and a return on equity of 8.00%. The company’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.75 earnings per share. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, equities analysts expect that Workday will post 2.63 EPS for the current year.

Insider Transactions at Workday

In other Workday news, CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $239.59, for a total transaction of $1,437,540.00. Following the completion of the sale, the chief financial officer directly owned 178,418 shares in the company, valued at $42,747,168.62. The trade was a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mark S. Garfield sold 451 shares of the business’s stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $234.86, for a total transaction of $105,921.86. Following the sale, the chief accounting officer owned 42,977 shares of the company’s stock, valued at approximately $10,093,578.22. This represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 329,005 shares of company stock valued at $79,203,523 in the last quarter. Insiders own 19.31% of the company’s stock.

Institutional Investors Weigh In On Workday

Several institutional investors have recently bought and sold shares of WDAY. Rakuten Securities Inc. purchased a new position in shares of Workday in the second quarter valued at $25,000. Cornerstone Planning Group LLC boosted its stake in shares of Workday by 76.1% in the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker’s stock valued at $28,000 after purchasing an additional 54 shares during the period. Dagco Inc. purchased a new position in shares of Workday in the first quarter valued at $31,000. Berbice Capital Management LLC boosted its stake in shares of Workday by 136.4% in the second quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock valued at $31,000 after purchasing an additional 75 shares during the period. Finally, Farmers & Merchants Investments Inc. purchased a new position in shares of Workday in the first quarter valued at $32,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Company Profile

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.