Workday (WDAY) Stock Forecast & Price Target

$244.41

+0.79 (+0.32%)

(As of 09/30/2024 ET)

Workday - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy

Based on 27 Analyst Ratings

Sell
1

Hold
6

Buy
20

Based on 27 Wall Street analysts who have issued ratings for Workday in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 27 analysts, 1 has given a sell rating, 6 have given a hold rating, and 20 have given a buy rating for WDAY.

Consensus Price Target

$287.04
17.44% Upside

According to the 27 analysts' twelve-month price targets for Workday, the average price target is $287.04. The highest price target for WDAY is $330.00, while the lowest price target for WDAY is $190.00. The average price target represents a forecasted upside of 17.44% from the current price of $244.41.

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WDAY Analyst Ratings Over Time

Type	Current Forecast 10/2/23 to 10/1/24	1 Month Ago 9/2/23 to 9/1/24	3 Months Ago 7/4/23 to 7/3/24	1 Year Ago 10/2/22 to 10/2/23
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	20 Buy rating(s)	20 Buy rating(s)	20 Buy rating(s)	25 Buy rating(s)
Hold	6 Hold rating(s)	6 Hold rating(s)	6 Hold rating(s)	9 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$287.04	$288.15	$282.11	$245.82
Forecasted Upside	17.44% Upside	9.48% Upside	25.08% Upside	15.05% Upside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy

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WDAY Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

WDAY Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Workday Stock vs. The Competition

Type	Workday	Computer and Technology Companies	S&P 500
Consensus Rating Score	2.70	2.65	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Hold
Predicted Upside	17.44% Upside	1,685.13% Upside	6.15% Upside
News Sentiment Rating	Positive News See Recent WDAY News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
9/25/2024	Citigroup 3 of 5 stars		Lower Target	Neutral ➝ Neutral	$274.00 ➝ $270.00	+11.15%
9/19/2024	JMP Securities 2 of 5 stars		Reiterated Rating	Market Outperform ➝ Market Outperform	$315.00 ➝ $315.00	+25.58%
9/19/2024	The Goldman Sachs Group 2 of 5 stars		Boost Target	Buy ➝ Buy	$300.00 ➝ $305.00	+22.75%
9/18/2024	BMO Capital Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Outperform ➝ Outperform	$300.00 ➝ $300.00	+21.95%
9/18/2024	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Overweight ➝ Overweight	$285.00 ➝ $285.00	+14.86%
9/18/2024	Needham & Company LLC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$350.00 ➝ $300.00	+20.91%
Get the Latest News and Ratings for WDAY and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for Workday and its competitors with MarketBeat's FREE daily newsletter.
9/13/2024	Canaccord Genuity Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy ➝ Buy	$300.00 ➝ $300.00	+19.62%
8/23/2024	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$260.00 ➝ $300.00	+16.68%
8/23/2024	KeyCorp Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$275.00 ➝ $305.00	+17.59%
8/23/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$286.00 ➝ $289.00	+11.42%
8/23/2024	Loop Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold ➝ Hold	$240.00 ➝ $255.00	+10.35%
8/23/2024	DA Davidson Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$255.00 ➝ $270.00	+16.84%
8/23/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$265.00 ➝ $310.00	+34.15%
8/23/2024	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold ➝ Hold	$265.00 ➝ $275.00	+19.01%
8/23/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Overweight ➝ Overweight	$325.00 ➝ $315.00	+36.32%
8/23/2024	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold ➝ Hold	$250.00 ➝ $270.00	+16.84%
8/20/2024	Evercore ISI Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$300.00 ➝ $290.00	+24.66%
6/25/2024	Guggenheim Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Sell ➝ Sell	$190.00 ➝ $190.00	-12.71%
5/24/2024	Sanford C. Bernstein Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$321.00 ➝ $301.00	+36.10%
5/24/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$310.00 ➝ $300.00	+33.40%
5/24/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Overweight ➝ Overweight	$300.00 ➝ $285.00	+25.58%
5/24/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral ➝ Neutral	$280.00 ➝ $255.00	+10.78%
5/24/2024	TD Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$330.00 ➝ $290.00	+11.15%
5/24/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$350.00 ➝ $330.00	+26.49%
5/24/2024	Robert W. Baird Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$316.00 ➝ $265.00	+1.57%
5/24/2024	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$325.00 ➝ $280.00	+7.32%
5/24/2024	Oppenheimer Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$320.00 ➝ $300.00	+14.99%
5/24/2023	BNP Paribas Subscribe to MarketBeat All Access for the recommendation accuracy rating	S. Slowinski Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Neutral ➝ Outperform	$235.00	+21.84%
3/1/2023	Societe Generale Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Buy ➝ Hold	$212.00 ➝ $205.00	+10.94%
3/1/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Neutral	$195.00	+5.53%
2/28/2023	Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform	$225.00 ➝ $230.00	+22.61%
2/22/2023	OTR Global Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Positive
1/13/2023	Capital One Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Overweight	$200.00	+22.26%
1/9/2023	Moffett Nathanson Subscribe to MarketBeat All Access for the recommendation accuracy rating	J. Ader Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Outperform	$245.00	+52.04%
11/17/2022	Monness Crespi & Hardt Subscribe to MarketBeat All Access for the recommendation accuracy rating	Brian White Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Buy ➝ Neutral
11/2/2022	Macquarie Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Neutral	$170.00	+12.14%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Tuesday at 09:33 AM ET.

Should I Buy Workday Stock? WDAY Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Monday, September 30, 2024. Please send any questions or comments about these Workday pros and cons to contact@marketbeat.com.

Workday
Bull Case

Here are some ways that investors could benefit from investing in Workday, Inc.:

Workday's stock price has been showing positive momentum, trading up recently.
Institutional investors, including well-known firms like Vanguard Group Inc. and Sustainable Growth Advisers LP, have been increasing their positions in Workday, indicating confidence in the company's future growth potential.
Workday reported strong earnings results, beating consensus estimates and demonstrating solid revenue growth.
The company's focus on providing enterprise cloud applications positions it well in the growing cloud computing market, offering scalability and flexibility to businesses.
With a market capitalization of $65.80 billion, Workday is a significant player in the software industry, providing stability and potential for long-term growth.

Workday
Bear Case

Investors should be bearish about investing in Workday, Inc. for these reasons:

Workday's stock has a relatively high price-to-earnings (PE) ratio of 44.74, which may indicate that the stock is currently overvalued compared to its earnings.
While institutional investors have been increasing their positions, there have also been instances of hedge funds reducing their stakes in Workday, suggesting some uncertainty in the market regarding the company's future performance.
Workday's beta of 1.35 indicates that the stock is more volatile compared to the overall market, potentially leading to higher fluctuations in its price.
Investors should consider the company's debt-to-equity ratio of 0.36, which may impact its financial stability and ability to manage debt obligations.
Workday's current ratio of 2.04 raises some concerns about its short-term liquidity and ability to cover immediate financial obligations.

WDAY Forecast - Frequently Asked Questions

: According to the research reports of 27 Wall Street equities research analysts, the average twelve-month stock price forecast for Workday is $287.04, with a high forecast of $330.00 and a low forecast of $190.00.
: 27 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Workday in the last twelve months. There is currently 1 sell rating, 6 hold ratings and 20 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" WDAY shares.
: According to analysts, Workday's stock has a predicted upside of 17.44% based on their 12-month stock forecasts.
: Workday has been rated by research analysts at Bank of America, Barclays, BMO Capital Markets, Canaccord Genuity Group, Citigroup, DA Davidson, Deutsche Bank Aktiengesellschaft, Evercore ISI, JMP Securities, KeyCorp, Loop Capital, Morgan Stanley, Needham & Company LLC, Piper Sandler, Stifel Nicolaus, The Goldman Sachs Group, and Wells Fargo & Company in the past 90 days.
: Analysts like Workday more than other "computer and technology" companies. The consensus rating score for Workday is 2.70 while the average consensus rating score for "computer and technology" companies is 2.65. Learn more on how WDAY compares to other companies.

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This page (NASDAQ:WDAY) was last updated on 10/1/2024 by MarketBeat.com Staff

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