Why Workday Shares Are Trading Higher By Around 9%; Here Are 20 Stocks Moving Premarket
Portfolio Pulse from Lisa Levin
Workday, Inc. (NASDAQ:WDAY) shares increased by approximately 9% in pre-market trading following the company's release of third-quarter earnings that exceeded expectations. Workday reported earnings of $1.56 per share, surpassing the estimated $1.41 per share, and revenue of $1.87 billion, which was higher than the forecasted $1.848 billion. The company expects fourth-quarter subscription revenue of $6.598 billion and adjusted operating margins of 23.8%. Piper Sandler maintained an Overweight rating on Workday and increased the price target from $275 to $300. The article also lists other stocks that moved in pre-market trading, with some experiencing significant gains and others facing declines.
November 29, 2023 | 1:11 pm
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POSITIVE IMPACT
Workday's stock is trading higher due to strong Q3 earnings, beating EPS estimates and reporting higher revenue than expected. Piper Sandler remains positive on the stock, raising the price target.
The positive earnings report and raised price target by Piper Sandler are strong indicators of confidence in Workday's financial health and future performance, likely leading to a short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100