How Do Analysts View Workday?


Nov. 20 2020, Updated 4:55 p.m. ET

Shares of Workday rose

Shares of Workday (WDAY) rose 10.2% during the week ended January 6, 2017. The firm is off to a positive start so far in 2017, after its shares fell more than 17% in 2016. Specifically, shares of Workday fell 21% in December 2016. Shares of peer companies such as Adobe (ADBE), Splunk (SPLK), and Autodesk (ADSK) rose 9.6%, -13% and 21.4%, respectively, in 2016.

According to Workday, political developments in developed markets (UK, US, France, and Italy) such as Brexit have affected the firm’s ability to secure deals. These deals have impacted the company’s revenue for 4Q17 and fiscal 2017.

In November 2016, Morgan Stanley (MS) had estimated the total addressable market for Workday to be $60 billion, driven by the company’s expansion into the analytics education market. There’s a huge potential in this market for growth right now.

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What are analysts recommending for Workday?

Of the 38 analysts covering Workday, 14 have issued “buy” recommendations, while three have issued “sell” recommendations, and 21 have issued “hold” recommendations on the stock.

The analyst stock price target for Workday is $81.78, with a median target estimate of $81. This means that Workday is trading at a discount of 9.7% to its median analyst price target.


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