Workday Stock Composite Rating Rise To 96, Putting It In Select Group Of Outperforming Stocks Amid Earnings, Expansion Move

Workday (WDAY) saw its IBD SmartSelect Composite Rating rise to 96 Tuesday, up from 93 the day before. The rise came after the company’s recent purchase of a European company, and amid continued powerful sales and profit gains. Workday stock shot up 9% on Friday after it announced Q2 earnings results. And it’s continued rising this week.

The new rating is a sign Workday stock is outpacing 96% of all stocks when it comes to the most important stock-picking criteria. History shows the top market performers tend to have a 95 or higher score as they launch their major climbs.

Workday Stock Up On Earnings, Expansion Move

Pleasanton, Calif.-based Workday provides cloud-based finance and human resources software to companies. In March it bought Peakon ApS, a Denmark-based employee success platform that converts feedback into insights for companies.

Workday has a 95 EPS Rating, meaning its recent quarterly and longer-term annual earnings growth is outpacing 95% of all stocks.

Its Accumulation/Distribution Rating of B, on an A+ to E scale with A+ tops, shows moderate buying by institutional investors over the last 13 weeks.

The company posted a 46% earnings-per-share gain for Q2, to $1.23. Top line grew 19% for the quarter, to $1.26 billion. That was up from 15% in the prior report. That marks one quarter of rising revenue gains.

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Workday stock holds the No. 10 rank among its peers in the Computer Software-Enterprise industry group. Concentrix Corp (CNXC), DocuSign (DOCU) and Dynatrace (DT) are among the top 5 highly rated stocks within the group.

Workday stock is currently forming a consolidation, with a 282.87 entry. Look for the stock to break out in volume at least 40% higher than normal.


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