On July 7, Workday rose 5.23% in regular trading, trading at $144.145/share, with turnover of $325 million. The gain was driven by a broad rebound in the application software sector combined with ongoing positive sentiment from a recent analyst upgrade.
The application software sector extended its recovery momentum, with peers Adobe rising 4.2% and Salesforce gaining 2.81% on the same day, reflecting significant sector-wide linkage. Monness Crespi & Hardt previously upgraded Workday from neutral to buy with a $150 price target, which remains above the current trading level and continues to support bullish sentiment. The average analyst price target stands at $173.56 according to FactSet.
Fundamentally, Workday reported Q1 adjusted EPS of $2.66, exceeding the consensus estimate of $2.51, while revenue grew 13% year-over-year to $25.4 billion. AI agent adoption more than doubled quarter-over-quarter to over 4,000 customers, with new annual growth from agentic AI products increasing over 200% year-over-year. Management raised full-year profit margin guidance, reinforcing confidence in execution capability.
(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.)