Oppenheimer Assigns a Buy Rating on Workday (WDAY)

By Carrie Williams

Oppenheimer analyst Brian Schwartz assigned a Buy rating to Workday (WDAYResearch Report) today and set a price target of $265.00. The company’s shares closed last Monday at $224.97.

According to TipRanks.com, Schwartz is a top 25 analyst with an average return of 31.3% and a 77.4% success rate. Schwartz covers the Technology sector, focusing on stocks such as Bill.com Holdings, RingCentral, and Salesforce.

Workday has an analyst consensus of Moderate Buy, with a price target consensus of $255.12, a 16.5% upside from current levels. In a report issued on November 5, Piper Sandler also reiterated a Buy rating on the stock with a $275.00 price target.

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Based on Workday’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $1.06 billion and GAAP net loss of $28.02 million. In comparison, last year the company earned revenue of $888 million and had a GAAP net loss of $121 million.

Based on the recent corporate insider activity of 73 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of WDAY in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Workday, Inc. engages in the development of enterprise cloud applications for finance and human resources. It delivers financial management, human capital management, and analytics applications designed for companies, educational institutions, and government agencies. The company was founded by David A. Duffield and Aneel Bhusri in March 2005 and is headquartered in Pleasanton, CA.