On August 3, Workday rose 5.09% in regular trading, trading at approximately $166.20/share, with turnover of $130 million. The rally was driven by continued institutional capital inflows and reaffirmed bullish analyst coverage.
On the news front, French asset manager Carmignac Gestion disclosed a newly initiated position in Workday, while Dimensional Fund Advisors previously held a $56.92 million stake. On the ratings side, Royal Bank of Canada reiterated its Outperform rating, and Needham maintained a Buy rating with a $180 price target. Fundamentally, the company reported EPS of $2.66 last quarter, beating expectations by $0.15, with revenue of $2.54 billion representing 13.5% year-over-year growth. Management also raised profit margin guidance, while technical momentum indicators simultaneously turned bullish.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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