TD Cowen Cuts Workday (NASDAQ:WDAY) Price Target to $210.00

Workday (NASDAQ:WDAY) had its target price lowered by TD Cowen from $220.00 to $210.00 in a report issued on Friday morning,Benzinga reports. The firm currently has a hold rating on the software maker’s stock.

WDAY has been the topic of a number of other reports. Jefferies Financial Group set a $220.00 price target on shares of Workday in a report on Friday. Barclays lifted their price objective on shares of Workday from $200.00 to $224.00 and gave the company an “overweight” rating in a report on Friday. Sanford C. Bernstein boosted their price objective on shares of Workday from $216.00 to $238.00 and gave the company an “outperform” rating in a research report on Friday. Capital One Financial set a $219.00 target price on shares of Workday and gave the stock an “equal weight” rating in a research report on Friday. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $160.00 price target on shares of Workday in a research note on Friday, May 22nd. Twenty research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Workday currently has an average rating of “Hold” and a consensus price target of $206.00.

Workday Price Performance

WDAY opened at $204.72 on Friday. The business has a fifty day moving average of $157.71 and a 200 day moving average of $140.71. Workday has a 52-week low of $110.36 and a 52-week high of $249.85. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.31. The stock has a market cap of $50.57 billion, a P/E ratio of 41.53, a PEG ratio of 2.17 and a beta of 1.08.

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. Workday had a return on equity of 20.95% and a net margin of 12.32%.The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter last year, the firm posted $2.21 earnings per share. The business’s revenue was up 12.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Workday will post 5.39 EPS for the current year.

Insider Buying and Selling at Workday

In related news, insider Robert Enslin sold 5,374 shares of Workday stock in a transaction that occurred 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 directly owned 239,469 shares in the company, valued at $32,304,368.10. This trade represents a 2.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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, CAO Mark S. Garfield sold 918 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $142.19, for a total transaction of $130,530.42. Following the sale, the chief accounting officer directly owned 73,718 shares in the company, valued at approximately $10,481,962.42. This represents a 1.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 875,020 shares of company stock valued at $113,938,503. Insiders own 18.64% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Rakuten Securities Inc. purchased a new stake in shares of Workday during the second quarter valued at $25,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Workday in the 3rd quarter valued at $26,000. JPL Wealth Management LLC purchased a new position in Workday in the 3rd quarter worth $30,000. DT Investment Partners LLC purchased a new position in Workday in the 4th quarter worth $27,000. Finally, LRI Investments LLC acquired a new stake in Workday during the 4th quarter worth about $29,000. Hedge funds and other institutional investors 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 revenue of $2.649 billion, up 12.8% year over year, while subscription revenue increased 13.9% to $2.471 billion. Adjusted EPS of $2.75 exceeded the $2.61 consensus estimate. Workday Announces Fiscal 2027 Second Quarter Financial Results
• Positive Sentiment: Profitability was a major bright spot: net income rose sharply to $632 million from $228 million a year earlier, and analysts cited subscription growth and expanding margins as reasons for increased price targets. WDAY Q2 Earnings Beat Estimates on Subscription Growth, Margin Gains
• Positive Sentiment: AI products accounted for more than one-quarter of new contract value, suggesting growing customer demand for Workday’s AI agents and supporting the company’s longer-term growth strategy. AI Products Accounted for More Than a Quarter of Workday’s New Q2 Contract Value
• Positive Sentiment: Workday authorized a substantial $4 billion share-repurchase program, potentially providing support for per-share results and signaling confidence in cash generation and valuation.
• Positive Sentiment: Several firms raised their targets after the report, including BMO Capital Markets and Needham to $230, KeyCorp to $215 and Monness to $218, with buy, overweight or outperform ratings.
• Neutral Sentiment: Analyst opinion remains divided. Some see AI momentum and margin expansion driving upside, while others believe the current valuation already reflects much of the improvement.
• Neutral Sentiment: Jim Cramer characterized the results as evidence that there is no broad SaaS-sector meltdown, supporting sentiment toward enterprise software stocks. Jim Cramer Says Workday Results Show No SaaS Meltdown in Sight
• Negative Sentiment: Workday’s fiscal 2027 revenue outlook of approximately $9.9 billion to $10.0 billion was below the roughly $10.7 billion analyst consensus, raising concerns about a potential slowdown and the risk of another guidance reduction. Workday’s outlook meets estimates despite AI demand
• Negative Sentiment: TD Cowen, Freedom Broker, Piper Sandler and DA Davidson maintained neutral or hold views, with targets ranging from $190 to $210—mostly indicating limited upside or downside from recent levels.

About Workday

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.