Workday (NASDAQ:WDAY) Given New $230.00 Price Target at Needham & Company LLC

Workday (NASDAQ:WDAY) had its price target raised by Needham & Company LLC from $180.00 to $230.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s price objective indicates a potential upside of 18.82% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. Piper Sandler restated a “neutral” rating and issued a $145.00 price objective on shares of Workday in a report on Friday, August 14th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Workday in a report on Friday. Wells Fargo & Company increased their price objective on Workday from $185.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Wall Street Zen downgraded Workday from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, KeyCorp reissued an “overweight” rating on shares of Workday in a report on Friday, August 14th. Twenty analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $194.81.

Workday Price Performance

WDAY stock opened at $193.57 on Friday. The business’s 50-day moving average is $155.95 and its two-hundred day moving average is $140.36. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $47.81 billion, a P/E ratio of 60.49, a P/E/G ratio of 2.03 and a beta of 1.08. Workday has a 1 year low of $110.36 and a 1 year high of $249.85.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.14. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.64 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.21 earnings per share. Analysts anticipate that Workday will post 5.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Robert Enslin sold 5,374 shares of the company’s stock in a transaction on Sunday, July 5th. The shares were sold at an average price of $134.90, for a total value of $724,952.60. Following the completion of the sale, the insider owned 239,469 shares in the company, valued at $32,304,368.10. This represents a 2.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder David A. Duffield sold 107,500 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $122.04, for a total transaction of $13,119,300.00. Following the sale, the insider owned 105,049 shares of the company’s stock, valued at approximately $12,820,179.96. This represents a 50.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 875,020 shares of company stock valued at $113,938,503 over the last quarter. Company insiders own 18.64% of the company’s stock.

Institutional Investors Weigh In On Workday

Several hedge funds have recently made changes to their positions in WDAY. Rakuten Securities Inc. acquired a new position in Workday in the 2nd quarter valued at about $25,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Workday in the 3rd quarter valued at approximately $26,000. DT Investment Partners LLC acquired a new stake in shares of Workday during the fourth quarter worth $27,000. LRI Investments LLC purchased a new position in Workday in the 4th quarter valued at $29,000. Finally, JPL Wealth Management LLC purchased a new position in Workday during the 3rd quarter worth $30,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Key Headlines Impacting Workday

Here are the key news stories impacting Workday this week:

• Positive Sentiment: Workday reported fiscal Q2 adjusted EPS of $2.75, above the roughly $2.61–$2.62 consensus, while revenue reached $2.649 billion, slightly exceeding estimates and increasing 12.8% year over year. Workday Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Subscription revenue climbed 13.9% to $2.471 billion. Management also said AI-related offerings represented more than 25% of new contract value, reinforcing the company’s positioning in enterprise AI for HR, finance and IT. Workday Fiscal 2027 Second-Quarter Results
• Positive Sentiment: Profitability was a major strength: net income reportedly rose to $632 million from $228 million a year earlier, while operating profit increased 26.2%. Workday also authorized an additional $4 billion share repurchase, which could support per-share results and signal confidence in cash generation. Workday Reports Higher Profit and Revenue
• Positive Sentiment: Canaccord Genuity raised its price target to $225, adding to bullish sentiment following the earnings beat. Canaccord Raises Workday Price Target
• Neutral Sentiment: Management’s outlook broadly met expectations and targets at least two points of non-GAAP margin expansion, but investors are watching whether AI adoption can offset slower growth in the coming years. Workday Signals Future Growth and Margin Targets
• Negative Sentiment: Workday’s projected subscription-revenue growth near 11% for fiscal 2028 implies continued deceleration from current levels, raising valuation concerns for a stock trading at a premium earnings multiple. Workday Outlook Despite AI Demand
• Negative Sentiment: Recent insider activity was heavily weighted toward selling, including substantial sales by founder David Duffield. While such transactions may be planned, they can weigh on investor sentiment.

Workday Company Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.