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Workday (WDAY) is a Top-Ranked Momentum Stock: Should You Buy?

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Is This 1 Momentum Stock a Screaming Buy Right Now?

For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

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Workday (WDAY)

Founded in 2005 and headquartered in Pleasanton, CA, Workday Inc. (WDAY) is a provider of enterprise-level software solutions for financial management and human resource domains. The company’s cloud-based platform combines finance and HR in a single system that makes it easier for organizations to provide analytical insights and decision support.

WDAY boasts a Momentum Style Score of A and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Shares of Workday has seen some interesting price action recently; the stock is up 9.6% over the past one week and up 18.4% over the past four weeks. And in the last one-year period, WDAY has gained 27.1%. As for the stock's trading volume, 2,523,457 shares on average were traded over the last 20 days.

Momentum investors also pay close attention to a company's earnings. For WDAY, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.09 to $5.03 per share for 2024. WDAY boasts an average earnings surprise of 13.1%.

WDAY should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.

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Workday, Inc. (WDAY) : Free Stock Analysis Report

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Zacks Investment Research