Wall Street analysts expect Workday (WDAY) to post quarterly earnings of $2.12 per share in its upcoming report, which indicates a year-over-year increase of 12.2%. Revenues are expected to be $2.41 billion, up 11.8% from the year-ago quarter.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some Workday metrics that Wall Street analysts commonly model and monitor.
The consensus estimate for 'Revenues- Subscription services' stands at $2.24 billion. The estimate indicates a year-over-year change of +14.1%.
Analysts' assessment points toward 'Revenues- Professional services' reaching $179.94 million. The estimate indicates a change of -10.5% from the prior-year quarter.
The average prediction of analysts places 'Subscription Revenue Backlog' at $26.95 billion. Compared to the current estimate, the company reported $22.19 billion in the same quarter of the previous year.
View all Key Company Metrics for Workday here>>>
Over the past month, Workday shares have recorded returns of -7.8% versus the Zacks S&P 500 composite's -0.3% change. Based on its Zacks Rank #3 (Hold), WDAY will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Workday, Inc. (WDAY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
