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Workday - Government Trades

Workday

Workday is a software company that offers human capital management, or HCM, financial management, and business planning solutions. Known for being a cloud-only software provider, Workday is headquartered in Pleasanton, California. Founded in 2005, Workday now employs over 18,000 employees.

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Guggenheim analyst John Difucci reiterates Workday (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) with a Sell and maintains $190 price target.

Guggenheim Reiterates Sell on Workday, Maintains $190 Price Target

Investors with a lot of money to spend have taken a bullish stance on Workday (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with WDAY, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 12 uncommon options trades for Workday.
This isn't normal.
The overall sentiment of these big-money traders is split between 41% bullish and 41%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $771,169, and 6 are calls, for a total amount of $287,480.
<h3>Projected Price Targets</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $210.0 to $290.0 for Workday during the past quarter. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Workday's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Workday's whale trades within a strike price range from $210.0 to $290.0 in the last 30 days. 
<h3>Workday Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1719255689_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>WDAY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$17.5</td>
<td>$17.3</td>
<td>$17.5</td>
<td>$230.00</td>
<td>$385.0K</td>
<td>822</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>WDAY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$22.5</td>
<td>$22.1</td>
<td>$22.5</td>
<td>$230.00</td>
<td>$222.7K</td>
<td>181</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>WDAY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$4.3</td>
<td>$4.2</td>
<td>$4.3</td>
<td>$230.00</td>
<td>$86.0K</td>
<td>583</td>
<td style="text-align: right;">37</td>
</tr>
<tr>
<td>WDAY</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$18.8</td>
<td>$18.4</td>
<td>$18.6</td>
<td>$220.00</td>
<td>$63.2K</td>
<td>1.0K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>WDAY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$4.3</td>
<td>$4.2</td>
<td>$4.3</td>
<td>$230.00</td>
<td>$61.9K</td>
<td>583</td>
<td style="text-align: right;">237</td>
</tr>
</tbody>
</table>

<h3>About Workday</h3>
Workday is a software company that offers human capital management, or HCM, financial management, and business planning solutions. Known for being a cloud-only software provider, Workday is headquartered in Pleasanton, California. Founded in 2005, Workday now employs over 18,000 employees.
Having examined the options trading patterns of Workday, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Present Market Standing of Workday</h3>
<ul>
<li>With a trading volume of 904,481, the price of WDAY is down by -0.35%, reaching $218.32.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 59 days from now.</li>
</ul>
<h3>What The Experts Say On Workday</h3>
1 market experts have recently issued ratings for this stock, with a consensus target price of $275.0.
<ul>
<li>An analyst from Wells Fargo has decided to maintain their Overweight rating on Workday, which currently sits at a price target of $275. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Workday options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Workday's Options: A Look at What the Big Money is Thinking

Workday (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) has been analyzed by 28 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">15</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">13</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Workday and provided 12-month price targets. The average target is $286.68, accompanied by a high estimate of $350.00 and a low estimate of $190.00. Highlighting a 9.13% decrease, the current average has fallen from the previous average price target of $315.50. 
<img src="https://www.benzinga.com/files/images/story/2024/1718982092_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
The standing of Workday among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Michael Turrin</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$275.00</td>
<td>$325.00</td>
</tr>
<tr>
<td>Patrick Walravens</td>
<td>JMP Securities</td>
<td>Maintains</td>
<td>Market Outperform</td>
<td>$315.00</td>
<td>$315.00</td>
</tr>
<tr>
<td>Scott Berg</td>
<td>Needham</td>
<td>Maintains</td>
<td>Buy</td>
<td>$350.00</td>
<td>$350.00</td>
</tr>
<tr>
<td>Mark Moerdler</td>
<td>Bernstein</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$301.00</td>
<td>$321.00</td>
</tr>
<tr>
<td>John Difucci</td>
<td>Guggenheim</td>
<td>Maintains</td>
<td>Sell</td>
<td>$190.00</td>
<td>$190.00</td>
</tr>
<tr>
<td>Steven Enders</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$255.00</td>
<td>$293.00</td>
</tr>
<tr>
<td>Yun Kim</td>
<td>Loop Capital</td>
<td>Lowers</td>
<td>Hold</td>
<td>$240.00</td>
<td>$280.00</td>
</tr>
<tr>
<td>Rishi Jaluria</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$300.00</td>
<td>$310.00</td>
</tr>
<tr>
<td>Raimo Lenschow</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$286.00</td>
<td>$316.00</td>
</tr>
<tr>
<td>Daniel Jester</td>
<td>BMO Capital</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$300.00</td>
<td>$338.00</td>
</tr>
<tr>
<td>Michael Turrin</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$325.00</td>
<td>$350.00</td>
</tr>
<tr>
<td>Mark Murphy</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$285.00</td>
<td>$300.00</td>
</tr>
<tr>
<td>Karl Keirstead</td>
<td>UBS</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$255.00</td>
<td>$280.00</td>
</tr>
<tr>
<td>Kirk Materne</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$300.00</td>
<td>$350.00</td>
</tr>
<tr>
<td>Brent Thill</td>
<td>Jefferies</td>
<td>Lowers</td>
<td>Buy</td>
<td>$330.00</td>
<td>$350.00</td>
</tr>
<tr>
<td>Derrick Wood</td>
<td>TD Cowen</td>
<td>Lowers</td>
<td>Buy</td>
<td>$290.00</td>
<td>$330.00</td>
</tr>
<tr>
<td>Gil Luria</td>
<td>DA Davidson</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$255.00</td>
<td>$300.00</td>
</tr>
<tr>
<td>David Hynes</td>
<td>Canaccord Genuity</td>
<td>Lowers</td>
<td>Buy</td>
<td>$270.00</td>
<td>$305.00</td>
</tr>
<tr>
<td>Brad Reback</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Hold</td>
<td>$250.00</td>
<td>$290.00</td>
</tr>
<tr>
<td>Keith Weiss</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$325.00</td>
<td>$330.00</td>
</tr>
<tr>
<td>Kash Rangan</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Buy</td>
<td>$300.00</td>
<td>$310.00</td>
</tr>
<tr>
<td>Mark Marcon</td>
<td>Baird</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$265.00</td>
<td>$316.00</td>
</tr>
<tr>
<td>Brian Schwartz</td>
<td>Oppenheimer</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$300.00</td>
<td>$320.00</td>
</tr>
<tr>
<td>Siti Panigrahi</td>
<td>Mizuho</td>
<td>Lowers</td>
<td>Buy</td>
<td>$280.00</td>
<td>$325.00</td>
</tr>
<tr>
<td>Jason Celino</td>
<td>Keybanc</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$275.00</td>
<td>$330.00</td>
</tr>
<tr>
<td>Brent Bracelin</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$280.00</td>
<td>$330.00</td>
</tr>
<tr>
<td>Brad Sills</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$310.00</td>
<td>$330.00</td>
</tr>
<tr>
<td>Brian Schwartz</td>
<td>Oppenheimer</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$320.00</td>
<td>$350.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Workday. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Workday compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for Workday's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Workday's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/WDAY/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Workday analyst ratings.</a>
<h2>Discovering Workday: A Closer Look</h2>
Workday is a software company that offers human capital management, or HCM, financial management, and business planning solutions. Known for being a cloud-only software provider, Workday is headquartered in Pleasanton, California. Founded in 2005, Workday now employs over 18,000 employees.
<h3>Financial Milestones: Workday's Journey</h3>
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Workday's remarkable performance in 3 months is evident. As of 30 April, 2024, the company achieved an impressive revenue growth rate of 18.17%. This signifies a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Information Technology sector.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of 5.38%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): Workday's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of 1.32%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): Workday's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 0.66%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: With a below-average debt-to-equity ratio of 0.41, Workday adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings For Workday

Wells Fargo analyst Michael Turrin maintains Workday (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) with a Overweight and lowers the price target from $325 to $275.

Wells Fargo Maintains Overweight on Workday, Lowers Price Target to $275

Workday shares are trading higher after Baird maintained an Outperform rating and raised its price target from $277 to $316.

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.
<ul>
<li>Evercore ISI Group raised the price target for Bread Financial Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BFH#NYSE">BFH</a>) from $42 to $45. Evercore ISI Group analyst John Pancari upgraded the stock from Underperform to In-Line. Bread Financial shares gained 0.5% to close at $40.84 on Tuesday. <a href="https://www.benzinga.com/quote/BFH/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>TD Cowen raised the price target for Ocular Therapeutix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCUL#NASDAQ">OCUL</a>) from $7 to $11. TD Cowen analyst Tara Bancroft upgraded the stock from Hold to Buy. Ocular Therapeutix shares fell 0.2% to close at $5.49 on Tuesday. <a href="https://www.benzinga.com/quote/OCUL/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Evercore ISI Group increased KB Home (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBH#NYSE">KBH</a>) price target from $78 to $86. Evercore ISI Group analyst Stephen Kim maintained an Outperform rating. KB Home shares fell 2.1% to close at $68.04 on Tuesday. <a href="https://www.benzinga.com/quote/KBH/analyst-ratings">See how other analysts view this stock.</a></li>
<li>HC Wainwright &amp; Co. cut the price target for Shattuck Labs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STTK#NASDAQ">STTK</a>) from $28 to $16. HC Wainwright &amp; Co. analyst Joseph Pantginis maintained a Buy rating. Shattuck Labs shares fell 7.8% to close at $4.59 on Tuesday. <a href="https://www.benzinga.com/quote/SSTK/analyst-ratings">See how other analysts view this stock.</a></li>
<li>B of A Securities slashed Esperion Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESPR#NASDAQ">ESPR</a>) price target from $2.9 to $2.5. B of A Securities analyst Jason Zemansky downgraded the stock from Neutral to Underperform. Esperion Therapeutics shares fell 5.2% to close at $2.72 on Tuesday. <a href="https://www.benzinga.com/quote/ESPR/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Baird boosted Workday, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) price target from $277 to $316. Baird analyst Mark Marcon maintained an Outperform rating. Workday shares fell 2.2% to close at $207.69 on Tuesday. <a href="https://www.benzinga.com/quote/WDAY/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Bernstein boosted the price target for Taiwan Semiconductor Manufacturing Company Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) from $150 to $200. Bernstein analyst Mark Li maintained an Outperform rating. Taiwan Semiconductor Manufacturing shares gained 1.4% to close at $179.69 on Tuesday. <a href="https://www.benzinga.com/quote/TSM/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Keybanc increased Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) price target from $475 to $540. Keybanc analyst Justin Patterson maintained an Overweight rating. Meta Platforms shares fell 1.4% to close at $499.49 on Tuesday. <a href="https://www.benzinga.com/quote/META/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Keefe, Bruyette &amp; Woods raised Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) price target from $66 to $69. Keefe, Bruyette &amp; Woods analyst David Konrad maintained a Market Perform rating. Citigroup shares gained 1.2% to close at $60.78 on Tuesday. <a href="https://www.benzinga.com/quote/C/analyst-ratings">See how other analysts view this stock.</a></li>
<li>B of A Securities boosted Crocs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CROX#NASDAQ">CROX</a>) price target from $160 to $187. B of A Securities analyst Christopher Nardone maintained a Buy rating. Crocs shares fell 0.2% to close at $159.42 on Tuesday. <a href="https://www.benzinga.com/quote/CROX/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/06/39405641/hewlett-packard-enterprise-accenture-and-3-stocks-to-watch-heading-into-thursday">Hewlett Packard Enterprise, Accenture And 3 Stocks To Watch Heading Into Thursday</a>

Baird analyst Mark Marcon maintains Workday (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) with a Outperform and raises the price target from $277 to $316.

Baird Maintains Outperform on Workday, Raises Price Target to $316

In the fast-paced and cutthroat world of business, conducting thorough company analysis is essential for investors and industry experts. In this article, we will undertake a comprehensive industry comparison, evaluating Workday (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) in comparison to its major competitors within the Software industry. By analyzing crucial financial metrics, market position, and growth potential, our objective is to provide valuable insights for investors and offer a deeper understanding of company's performance in the industry.
<h3>Workday Background</h3>
Workday is a software company that offers human capital management, or HCM, financial management, and business planning solutions. Known for being a cloud-only software provider, Workday is headquartered in Pleasanton, California. Founded in 2005, Workday now employs over 18,000 employees.
<table>
<thead>
<tr>
<th>Company</th>
<th>P/E</th>
<th>P/B</th>
<th>P/S</th>
<th>ROE</th>
<th>EBITDA (in billions)</th>
<th>Gross Profit (in billions)</th>
<th>Revenue Growth</th>
</tr>
</thead>
<tbody>
<tr>
<td>Workday Inc</td>
<td>37.87</td>
<td>6.91</td>
<td>7.51</td>
<td>1.32%</td>
<td>$0.23</td>
<td>$1.5</td>
<td>18.17%</td>
</tr>
<tr>
<td>Adobe Inc</td>
<td>46.69</td>
<td>15.66</td>
<td>11.59</td>
<td>10.38%</td>
<td>$2.19</td>
<td>$4.71</td>
<td>2.45%</td>
</tr>
<tr>
<td>Salesforce Inc</td>
<td>41.45</td>
<td>3.74</td>
<td>6.34</td>
<td>2.57%</td>
<td>$2.6</td>
<td>$6.97</td>
<td>10.74%</td>
</tr>
<tr>
<td>SAP SE</td>
<td>87.74</td>
<td>4.80</td>
<td>6.58</td>
<td>-1.92%</td>
<td>$-0.42</td>
<td>$5.76</td>
<td>8.06%</td>
</tr>
<tr>
<td>Intuit Inc</td>
<td>55.69</td>
<td>8.98</td>
<td>10.81</td>
<td>13.4%</td>
<td>$3.34</td>
<td>$5.67</td>
<td>11.95%</td>
</tr>
<tr>
<td>Synopsys Inc</td>
<td>66.82</td>
<td>13.12</td>
<td>15.09</td>
<td>4.23%</td>
<td>$0.41</td>
<td>$1.15</td>
<td>15.2%</td>
</tr>
<tr>
<td>Cadence Design Systems Inc</td>
<td>83.88</td>
<td>24.59</td>
<td>21.55</td>
<td>7.1%</td>
<td>$0.36</td>
<td>$0.88</td>
<td>-1.23%</td>
</tr>
<tr>
<td>Roper Technologies Inc</td>
<td>40.65</td>
<td>3.33</td>
<td>9.33</td>
<td>2.17%</td>
<td>$0.73</td>
<td>$1.18</td>
<td>14.36%</td>
</tr>
<tr>
<td>Palantir Technologies Inc</td>
<td>208.50</td>
<td>14.76</td>
<td>25.12</td>
<td>2.91%</td>
<td>$0.09</td>
<td>$0.52</td>
<td>20.78%</td>
</tr>
<tr>
<td>Autodesk Inc</td>
<td>52.28</td>
<td>23.99</td>
<td>9.21</td>
<td>12.55%</td>
<td>$0.34</td>
<td>$1.28</td>
<td>11.66%</td>
</tr>
<tr>
<td>Datadog Inc</td>
<td>344.62</td>
<td>17.80</td>
<td>18.65</td>
<td>2.02%</td>
<td>$0.06</td>
<td>$0.5</td>
<td>26.89%</td>
</tr>
<tr>
<td>Ansys Inc</td>
<td>65.71</td>
<td>5.28</td>
<td>12.85</td>
<td>0.64%</td>
<td>$0.09</td>
<td>$0.4</td>
<td>-8.41%</td>
</tr>
<tr>
<td>AppLovin Corp</td>
<td>47.27</td>
<td>33.96</td>
<td>7.71</td>
<td>23.28%</td>
<td>$0.45</td>
<td>$0.76</td>
<td>47.9%</td>
</tr>
<tr>
<td>PTC Inc</td>
<td>72.25</td>
<td>7.03</td>
<td>9.25</td>
<td>3.98%</td>
<td>$0.21</td>
<td>$0.49</td>
<td>11.23%</td>
</tr>
<tr>
<td>Tyler Technologies Inc</td>
<td>105.96</td>
<td>6.56</td>
<td>10.07</td>
<td>1.82%</td>
<td>$0.11</td>
<td>$0.22</td>
<td>8.58%</td>
</tr>
<tr>
<td>Zoom Video Communications Inc</td>
<td>21.01</td>
<td>2.12</td>
<td>3.89</td>
<td>2.65%</td>
<td>$0.23</td>
<td>$0.87</td>
<td>3.25%</td>
</tr>
<tr>
<td>Bentley Systems Inc</td>
<td>47.47</td>
<td>16.50</td>
<td>13.64</td>
<td>7.74%</td>
<td>$0.12</td>
<td>$0.28</td>
<td>7.43%</td>
</tr>
<tr>
<td>Manhattan Associates Inc</td>
<td>76.06</td>
<td>59.81</td>
<td>15.13</td>
<td>20.78%</td>
<td>$0.06</td>
<td>$0.14</td>
<td>15.18%</td>
</tr>
<tr>
<td>Dynatrace Inc</td>
<td>87.33</td>
<td>6.70</td>
<td>9.50</td>
<td>1.93%</td>
<td>$0.04</td>
<td>$0.31</td>
<td>21.11%</td>
</tr>
<tr>
<td>Average</td>
<td>86.19</td>
<td>14.93</td>
<td>12.02</td>
<td>6.57%</td>
<td>$0.61</td>
<td>$1.78</td>
<td>12.62%</td>
</tr>
</tbody>
</table>
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 </style>Through a detailed examination of Workday, we can deduce the following trends: 
<ul>
<li>
A Price to Earnings ratio of 37.87 significantly below the industry average by 0.44x suggests undervaluation. This can make the stock appealing for those seeking growth.
</li>
<li>
The current Price to Book ratio of 6.91, which is 0.46x the industry average, is substantially lower than the industry average, indicating potential undervaluation.
</li>
<li>
The Price to Sales ratio is 7.51, which is 0.62x the industry average. This suggests a possible undervaluation based on sales performance.
</li>
<li>
With a Return on Equity (ROE) of 1.32% that is 5.25% below the industry average, it appears that the company exhibits potential inefficiency in utilizing equity to generate profits.
</li>
<li>
The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of $230 Million is 0.38x below the industry average, suggesting potential lower profitability or financial challenges.
</li>
<li>
With lower gross profit of $1.5 Billion, which indicates 0.84x below the industry average, the company may experience lower revenue after accounting for production costs.
</li>
<li>
With a revenue growth of 18.17%, which surpasses the industry average of 12.62%, the company is demonstrating robust sales expansion and gaining market share.
</li>
</ul>
<h3>Debt To Equity Ratio</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1718722845_0.png" alt="debt to equity" />
The debt-to-equity (D/E) ratio measures the financial leverage of a company by evaluating its debt relative to its equity.
Considering the debt-to-equity ratio in industry comparisons allows for a concise evaluation of a company's financial health and risk profile, aiding in informed decision-making.
By evaluating Workday against its top 4 peers in terms of the Debt-to-Equity ratio, the following observations arise:
<ul>
<li>
When considering the debt-to-equity ratio, Workday exhibits a stronger financial position compared to its top 4 peers.
</li>
<li>
This indicates that the company has a favorable balance between debt and equity, with a lower debt-to-equity ratio of 0.41, which can be perceived as a positive aspect by investors.
</li>
</ul>
<h3>Key Takeaways</h3>
For Workday in the Software industry, the PE, PB, and PS ratios suggest that the company is undervalued compared to its peers. However, the low ROE, EBITDA, and gross profit indicate potential operational inefficiencies. On the positive side, the high revenue growth implies strong top-line performance relative to industry competitors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Market Analysis: Workday And Competitors In Software Industry

The Nasdaq 100 closed higher by more than 1% on Monday. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">CrowdStrike Holdings</h3>
<ul>
<li>The Trade: CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) Chief Security Officer Shawn Henry <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 4,500 shares</a> at an average price of $382.93. The insider received around $1.72 million from selling those shares.</li>
<li>What's Happening: On June 7, CrowdStrike announced the company will join the S&amp;P 500.</li>
<li>What CrowdStrike Does: CrowdStrike is a cloud-based cybersecurity company specializing in next-generation security verticals such as endpoint, cloud workload, identity, and security operations.</li>
</ul>
Have a look at our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<h3 class="wp-block-heading">Workday</h3>
<ul>
<li>The Trade: Workday, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) 10% owner David A Duffield <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 57,000 shares</a> at an average price of $209.17. The insider received around $11.92 million from selling those shares.</li>
<li>What's Happening: On June 12, Clemson University selected Workday to accelerate digital transformation and support the University&#8217;s strategic plan.</li>
<li>What Workday Does: Workday is a software company that offers human capital management, or HCM, financial management, and business planning solutions.</li>
</ul>
<h3 class="wp-block-heading">NVIDIA</h3>
<ul>
<li>The Trade: NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) President and CEO &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>Jen Hsun Huang <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 240,000 shares</a> at an average price of $129.94. The insider received around $31.18 million from selling those shares.</li>
<li>What's Happening: NVIDIA recently announced a 10-for-1 stock split. The semiconductor giant revealed this decision during its recent quarterly earnings report. The split-adjusted trading commenced on Monday, June 10.</li>
<li>What NVIDIA Does: Nvidia is a leading developer of graphics processing units.</li>
</ul>
<h3 class="wp-block-heading">Pinterest</h3>
<ul>
<li>The Trade: Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) Chief Accounting Officer Andrea Acosta <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 3,845 shares</a> at an average price of $43.90. The insider received around $168,796 from selling those shares.</li>
<li>What's Happening: On June 14, Piper Sandler analyst Thomas Champion maintained Pinterest with an Overweight and maintained a $52 price target.</li>
<li>What Pinterest Does: Pinterest is an online product and idea discovery platform that helps users gather ideas on everything from cooking recipes to travel destinations.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/06/39355507/jim-cramer-says-hes-going-to-have-to-wait-on-sofi-but-recommends-this-great-little-indus">Jim Cramer Says He&#8217;s &#8216;Going To Have To Wait&#8217; On SoFi, But Recommends This &#8216;Great Little Industrial Company&#8217;</a>

Clemson University Selects Workday Financial Management, Human Capital Management, And Strategic Sourcing To Drive Digital Transformation And Enhance Experiences For Faculty, Staff, And Student Workers

Deep-pocketed investors have adopted a bearish approach towards Workday (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in WDAY usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Workday. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 22% leaning bullish and 55% bearish. Among these notable options, 3 are puts, totaling $163,725, and 6 are calls, amounting to $494,496.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $200.0 to $300.0 for Workday over the last 3 months. 
<h3>Volume &amp; Open Interest Trends</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Workday's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Workday's whale trades within a strike price range from $200.0 to $300.0 in the last 30 days. 
<h3>Workday 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1718133366_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>WDAY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$25.6</td>
<td>$25.0</td>
<td>$25.0</td>
<td>$260.00</td>
<td>$250.0K</td>
<td>23</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>WDAY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$22.0</td>
<td>$20.6</td>
<td>$20.7</td>
<td>$230.00</td>
<td>$82.8K</td>
<td>543</td>
<td style="text-align: right;">12</td>
</tr>
<tr>
<td>WDAY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$31.3</td>
<td>$31.0</td>
<td>$31.0</td>
<td>$210.00</td>
<td>$65.1K</td>
<td>58</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>WDAY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$52.0</td>
<td>$51.7</td>
<td>$51.7</td>
<td>$200.00</td>
<td>$51.7K</td>
<td>46</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>WDAY</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$20.6</td>
<td>$20.1</td>
<td>$20.37</td>
<td>$220.00</td>
<td>$50.9K</td>
<td>1.0K</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>

<h3>About Workday</h3>
Workday is a software company that offers human capital management, or HCM, financial management, and business planning solutions. Known for being a cloud-only software provider, Workday is headquartered in Pleasanton, California. Founded in 2005, Workday now employs over 18,000 employees.
Following our analysis of the options activities associated with Workday, we pivot to a closer look at the company's own performance.
<h3>Current Position of Workday</h3>
<ul>
<li>With a trading volume of 1,098,570, the price of WDAY is up by 0.59%, reaching $213.99.</li>
<li>Current RSI values indicate that the stock is may be approaching oversold.</li>
<li>Next earnings report is scheduled for 72 days from now.</li>
</ul>
<h3>Professional Analyst Ratings for Workday</h3>
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $285.0.
<ul>
<li>An analyst from Oppenheimer persists with their Outperform rating on Workday, maintaining a target price of $320. </li>
<li>An analyst from Citigroup has decided to maintain their Neutral rating on Workday, which currently sits at a price target of $255. </li>
<li>An analyst from RBC Capital persists with their Outperform rating on Workday, maintaining a target price of $300. </li>
<li>An analyst from JP Morgan persists with their Overweight rating on Workday, maintaining a target price of $285. </li>
<li>Consistent in their evaluation, an analyst from Baird keeps a Outperform rating on Workday with a target price of $265. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Workday options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Behind the Scenes of Workday's Latest Options Trends

Each week,&nbsp;Benzinga&#8217;s Stock Whisper Index&nbsp;uses a combination of proprietary data and pattern recognition to showcase five stocks just under the&nbsp;<a href="https://www.benzinga.com/topic/stock-whisper-index" target="_blank" rel="noreferrer noopener">surface and warrant attention</a>.
Investors are constantly on the hunt for undervalued, under-followed and emerging stocks. With countless methods available to retail traders, the challenge often lies in sifting through the abundance to&nbsp;uncover new information.
This index layers editorial commentary to help make sense of why these stocks should be of interest and whether investors or casual readers should watch them.
Related Link:<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/03/37715065/the-mag-7-bench-josh-brown-picks-the-next-magnificent-7-stocks" target="_blank" rel="noreferrer noopener">&nbsp;The ‘Mag 7 Bench&#8217; – Josh Brown Picks The Next Magnificent 7 Stocks</a>
<h3 class="wp-block-heading">Here's a look at the Benzinga Stock Whisper Index for the week of June 7:</h3>
Elevance Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>): The health insurer company saw increased interest from readers with shares near 52-week highs. The company presented at the Bernstein's 40th Annual Strategic Decisions Conference recently and will be presenting at the Goldman Sachs Healthcare Conference on June 12. 
Analysts recently <a href="https://www.benzinga.com/quote/ELV/analyst-ratings">updated their price targets</a> on the stock. Baird initiated shares with an Outperform rating. JPMorgan raised the price target from $628 to $631 and has an Overweight rating. Bank of America raised the price target from $621 to $646 and has a Buy rating.
Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>): The media company could soon have media rights for National Basketball Association games back after several decades. The company is believed to be one of <a href="https://www.benzinga.com/general/entertainment/24/06/39185564/nba-nears-76b-tv-deal-with-nbc-espn-and-amazon-report">the three companies</a> landing NBA rights. Comcast would pay $2.5 billion annually to air around 100 games each season, with around half of the games exclusive to the Peacock streaming platform according to a report.
Comcast unit NBC had rights for NBA games from 1954 to 1962 and 1990 to 2002 previously. The NBA rights would add to a library of sports content for Comcast and Peacock that <a href="https://www.benzinga.com/general/sports/24/04/38206524/peacocks-friday-night-football-exclusive-eagles-packers-streaming-nfl-game-could-be-a-touchdown-fo">includes NFL games</a>, NASCAR, INDYCAR, PGA Tour, NCAA Football and the Olympic Games. The 2024 Summer Olympics begin on July 26 and could put Comcast in the spotlight.
Intuit (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>): The accounting and tax provider company saw increased interest from investors, which comes with potential concerns over free tax filing software in future years. The company recently presented at the Bank of America Global Technology Conference and will present at the Nasdaq Investor Conference on June 11. In May, Intuit reported third-quarter financial results, which included comments on how artificial intelligence is boosting the customer experience. The company also raised full-year financial guidance for revenue, operating income and earnings per share.
Workday Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>): The software company recently <a href="https://investor.workday.com/2024-06-03-Workday-Turbocharges-Its-Partner-and-Developer-Ecosystem-with-New-Workday-AI-Capabilities">announced </a>several business updates that centered on the use of artificial intelligence. At the Workday DevCon 2024, Workday showcased Workday AI marketplace and Workday Extend, items that will make it easier for developers and partners to build on the Workday platform.
"We are leading the enterprise AI revolution, and we're doing that not only by innovating at Workday – but by enabling AI innovation for our customers and partners as well," Workday Senior Vice President Matt Grippo said. "With these new offerings, we are unlocking more possibilities for organizations to drive business efficiency and realize greater value from the Workday platform and ecosystem."
Simpson Manufacturing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSD#NYSE">SSD</a>): The engineered structural connectors and building solutions company saw increased interest from investors during the trading week. The company will participate at the 2024 Wells Fargo Industries Conference on June 12. Simpson Manufacturing will report second-quarter financial results in July. The company has missed earnings per share estimates from analysts in the last two quarters and missed revenue estimates in the last quarter after a streak of several beats in a row.
Stay tuned for next week&#8217;s report, and follow Benzinga Pro for all the latest headlines and<a href="https://pro.benzinga.com/feature/newsfeed/?gspk=bHVrZWphY29iaTUzNDg&amp;gsxid=tdEE0VrK8Jeg&amp;ref=lukejacobi5348" target="_blank" rel="noreferrer noopener">&nbsp;top market-moving stories here.</a>
Read the latest Stock Whisper Index reports here:
<a href="https://www.benzinga.com/24/05/38900534/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet" target="_blank" rel="noreferrer noopener">May 17</a>
<a href="https://www.benzinga.com/markets/commodities/24/05/39013900/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet" target="_blank" rel="noreferrer noopener">May 24</a>
<a href="https://www.benzinga.com/top-stories/24/05/39114623/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">May 31 </a>
Read Next: <a href="https://www.benzinga.com/general/sports-betting/24/05/38909548/2024-nfl-schedule-unpacked-media-partners-win-taylor-swift-tour-dates-considered-new-betti">2024 NFL Schedule Unpacked: Media Partners Win, Taylor S</a>wift Tour Dates Considered, New Betting Odds And More
Photo: Benzinga

Benzinga's 'Stock Whisper' Index: 5 Stocks Investors Secretly Monitor But Don't Talk About Yet

On CNBC's &#8220;<a href="https://www.benzinga.com/topic/mad-money-lightning-round">Mad Money Lightning Round</a>,&#8221; Jim Cramer recommended buying The PNC Financial Services Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>). &#8220;I've always liked it, I think it's going to go to an all-time high and then go <a href="https://www.benzinga.com/news/24/05/38710149/cyberattack-group-shifts-focus-to-banks-insurers-after-casinos">higher,&#8221; he added</a>.
On June 5, PNC Bank launched a $120,000 scholarship program to expand access to higher education.
Energy Fuels Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUUU#NYSE">UUUU</a>) is a &#8220;momentum&#8221; stock, Cramer said. &#8220;I am going to go with GE Vernova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) because if we are going to have nuclear, they're going to be the winner.&#8221;
On June 5, Roth MKM analyst Joe Reagor downgraded Energy Fuels from Buy to Neutral and lowered the price target from $6.5 to $6.25.
When asked about Core Scientific, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CORZ#NASDAQ">CORZ</a>), he said, &#8220;I happen to like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), and I happen to like Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and I like the ETFs. And that's what I stick by. I like the <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38312296/jim-cramer-recommends-buying-ethereum-or-bitcoin-instead-of-this-stock-lets-not-fool-aro">clarity and the purity</a>.&#8221;
On June 5, Core Scientific released unaudited production and operations updates for May 2024.
The Mad Money host said MasTec, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTZ#NYSE">MTZ</a>) is a &#8220;great infrastructure play, and it's coming back.&#8221;
On June 5, MasTec reported the pricing of its public offering of $550 million of senior notes due 2029.
When asked about Workday, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>), he said, &#8220;That's a part of enterprise software that is just simply not working right now. We're going to have to see another quarter before we can get behind Workday.&#8221;
On May 23, Workday reported quarterly earnings of $1.74 per share which beat the analyst consensus estimate of $1.58 per share. Quarterly sales came in at $1.99 billion which beat the analyst consensus estimate of $1.973 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Price Action:
<ul>
<li>PNC shares rose 0.3% to settle at $154.60 on Wednesday.</li>
<li>Energy Fuels shares fell 4.1% to close at $6.10 on Wednesday.</li>
<li>Core Scientific gained 4.7% to close at $7.15 during Wednesday's session.</li>
<li>MasTec shares rose 2.3% to close at $110.43.</li>
<li>Workday shares gained 0.6% to close at $212.46 on Wednesday.</li>
</ul>
Read Next: <a href="https://www.benzinga.com/news/24/06/39182518/top-4-consumer-stocks-that-may-implode-in-q2">Top 4 Consumer Stocks That May Implode In Q2</a>
Image: Wikimedia

Jim Cramer Recommends Buying PNC Financial Services, Calls MasTec A 'Great Infrastructure Play'

Financial giants have made a conspicuous bullish move on Workday. Our analysis of options history for Workday (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) revealed 13 unusual trades.
Delving into the details, we found 61% of traders were bullish, while 15% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $178,100, and 9 were calls, valued at $346,645.
<h3>Expected Price Movements</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $200.0 to $240.0 for Workday over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Workday's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Workday's whale trades within a strike price range from $200.0 to $240.0 in the last 30 days. 
<h3>Workday 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1717610496_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>WDAY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$12.7</td>
<td>$12.1</td>
<td>$12.32</td>
<td>$200.00</td>
<td>$86.2K</td>
<td>889</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>WDAY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$2.5</td>
<td>$2.45</td>
<td>$2.5</td>
<td>$220.00</td>
<td>$50.2K</td>
<td>1.2K</td>
<td style="text-align: right;">610</td>
</tr>
<tr>
<td>WDAY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$2.5</td>
<td>$2.35</td>
<td>$2.5</td>
<td>$220.00</td>
<td>$50.0K</td>
<td>1.2K</td>
<td style="text-align: right;">210</td>
</tr>
<tr>
<td>WDAY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$2.6</td>
<td>$2.45</td>
<td>$2.6</td>
<td>$220.00</td>
<td>$46.2K</td>
<td>1.2K</td>
<td style="text-align: right;">210</td>
</tr>
<tr>
<td>WDAY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$1.85</td>
<td>$1.75</td>
<td>$1.85</td>
<td>$225.00</td>
<td>$46.2K</td>
<td>557</td>
<td style="text-align: right;">260</td>
</tr>
</tbody>
</table>

<h3>About Workday</h3>
Workday is a software company that offers human capital management, or HCM, financial management, and business planning solutions. Known for being a cloud-only software provider, Workday is headquartered in Pleasanton, California. Founded in 2005, Workday now employs over 18,000 employees.
Following our analysis of the options activities associated with Workday, we pivot to a closer look at the company's own performance.
<h3>Current Position of Workday</h3>
<ul>
<li>Trading volume stands at 1,417,754, with WDAY's price up by 0.88%, positioned at $212.99.</li>
<li>RSI indicators show the stock to be may be oversold.</li>
<li>Earnings announcement expected in 78 days.</li>
</ul>
<h3>Expert Opinions on Workday</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $291.0.
<ul>
<li>An analyst from Baird has decided to maintain their Outperform rating on Workday, which currently sits at a price target of $265. </li>
<li>An analyst from Morgan Stanley persists with their Overweight rating on Workday, maintaining a target price of $325. </li>
<li>An analyst from RBC Capital has decided to maintain their Outperform rating on Workday, which currently sits at a price target of $300. </li>
<li>Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Workday with a target price of $285. </li>
<li>An analyst from Mizuho has decided to maintain their Buy rating on Workday, which currently sits at a price target of $280. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Workday, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Decoding Workday's Options Activity: What's the Big Picture?

GOOGL

Workday Announces New AI Innovations, Enhancing Developer Platform And Launching AI Marketplace For Access To Top Solutions

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Below are some instances of options activity happening in the Information Technology sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/31/24</td>
<td>$1100.00</td>
<td>$164.6K</td>
<td>11.0K</td>
<td>75.1K</td>
</tr>
<tr>
<td>SNOW</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/31/24</td>
<td>$140.00</td>
<td>$40.6K</td>
<td>3.2K</td>
<td>3.2K</td>
</tr>
<tr>
<td>SMCI</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/07/24</td>
<td>$700.00</td>
<td>$64.0K</td>
<td>509</td>
<td>2.6K</td>
</tr>
<tr>
<td>CRM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>06/21/24</td>
<td>$240.00</td>
<td>$41.0K</td>
<td>3.3K</td>
<td>2.4K</td>
</tr>
<tr>
<td>SEDG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$50.00</td>
<td>$27.9K</td>
<td>777</td>
<td>1.8K</td>
</tr>
<tr>
<td>NCNO</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$30.00</td>
<td>$57.7K</td>
<td>4</td>
<td>1.4K</td>
</tr>
<tr>
<td>MU</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>12/20/24</td>
<td>$95.00</td>
<td>$423.0K</td>
<td>322</td>
<td>1.0K</td>
</tr>
<tr>
<td>AMD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/14/24</td>
<td>$160.00</td>
<td>$38.2K</td>
<td>1.6K</td>
<td>869</td>
</tr>
<tr>
<td>WDAY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/14/24</td>
<td>$210.00</td>
<td>$97.9K</td>
<td>51</td>
<td>816</td>
</tr>
<tr>
<td>PATH</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$14.00</td>
<td>$25.0K</td>
<td>2.1K</td>
<td>635</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we notice a call option sweep that happens to be bullish, is expiring today. Parties traded 714 contract(s) at a $1100.00 strike. This particular call needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $164.6K, with a price of $235.0 per contract. There were 11037 open contracts at this strike prior to today, and today 75196 contract(s) were bought and sold. 
• For SNOW (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>), we notice a put option trade that happens to be bearish, is expiring today. Parties traded 79 contract(s) at a $140.00 strike. The total cost received by the writing party (or parties) was $40.6K, with a price of $515.0 per contract. There were 3208 open contracts at this strike prior to today, and today 3286 contract(s) were bought and sold. 
• Regarding SMCI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), we observe a put option trade with bearish sentiment. It expires in 7 day(s) on June 7, 2024. Parties traded 100 contract(s) at a $700.00 strike. The total cost received by the writing party (or parties) was $64.0K, with a price of $640.0 per contract. There were 509 open contracts at this strike prior to today, and today 2668 contract(s) were bought and sold. 
• Regarding CRM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), we observe a call option sweep with neutral sentiment. It expires in 21 day(s) on June 21, 2024. Parties traded 200 contract(s) at a $240.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $41.0K, with a price of $205.0 per contract. There were 3338 open contracts at this strike prior to today, and today 2493 contract(s) were bought and sold. 
• Regarding SEDG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>), we observe a call option sweep with bearish sentiment. It expires in 49 day(s) on July 19, 2024. Parties traded 59 contract(s) at a $50.00 strike. This particular call needed to be split into 35 different trades to become filled. The total cost received by the writing party (or parties) was $27.9K, with a price of $474.0 per contract. There were 777 open contracts at this strike prior to today, and today 1892 contract(s) were bought and sold. 
• For NCNO (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNO#NASDAQ">NCNO</a>), we notice a call option trade that happens to be bearish, expiring in 49 day(s) on July 19, 2024. This event was a transfer of 330 contract(s) at a $30.00 strike. The total cost received by the writing party (or parties) was $57.7K, with a price of $175.0 per contract. There were 4 open contracts at this strike prior to today, and today 1451 contract(s) were bought and sold. 
• For MU (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), we notice a put option trade that happens to be neutral, expiring in 203 day(s) on December 20, 2024. This event was a transfer of 1000 contract(s) at a $95.00 strike. The total cost received by the writing party (or parties) was $423.0K, with a price of $423.0 per contract. There were 322 open contracts at this strike prior to today, and today 1001 contract(s) were bought and sold. 
• Regarding AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), we observe a put option sweep with bearish sentiment. It expires in 14 day(s) on June 14, 2024. Parties traded 89 contract(s) at a $160.00 strike. This particular put needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $38.2K, with a price of $427.0 per contract. There were 1659 open contracts at this strike prior to today, and today 869 contract(s) were bought and sold. 
• Regarding WDAY (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>), we observe a call option sweep with bearish sentiment. It expires in 14 day(s) on June 14, 2024. Parties traded 190 contract(s) at a $210.00 strike. This particular call needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $97.9K, with a price of $513.0 per contract. There were 51 open contracts at this strike prior to today, and today 816 contract(s) were bought and sold. 
• For PATH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PATH#NYSE">PATH</a>), we notice a call option sweep that happens to be bearish, expiring in 168 day(s) on November 15, 2024. This event was a transfer of 207 contract(s) at a $14.00 strike. This particular call needed to be split into 13 different trades to become filled. The total cost received by the writing party (or parties) was $25.0K, with a price of $121.0 per contract. There were 2176 open contracts at this strike prior to today, and today 635 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

NCNO

PATH

SEDG

SMCI

10 Information Technology Stocks With Whale Alerts In Today's Session

Financial giants have made a conspicuous bullish move on Workday. Our analysis of options history for Workday (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) revealed 9 unusual trades.
Delving into the details, we found 44% of traders were bullish, while 33% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $103,160, and 6 were calls, valued at $405,614.
<h3>Expected Price Movements</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $180.0 and $265.0 for Workday, spanning the last three months.
<h3>Volume &amp; Open Interest Development</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Workday's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Workday's whale trades within a strike price range from $180.0 to $265.0 in the last 30 days. 
<h3>Workday Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1717164088_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>WDAY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$11.2</td>
<td>$10.0</td>
<td>$10.0</td>
<td>$210.00</td>
<td>$200.0K</td>
<td>691</td>
<td style="text-align: right;">13</td>
</tr>
<tr>
<td>WDAY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/14/24</td>
<td>$5.8</td>
<td>$5.4</td>
<td>$5.64</td>
<td>$210.00</td>
<td>$56.3K</td>
<td>51</td>
<td style="text-align: right;">162</td>
</tr>
<tr>
<td>WDAY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$44.9</td>
<td>$42.5</td>
<td>$44.5</td>
<td>$210.00</td>
<td>$40.0K</td>
<td>60</td>
<td style="text-align: right;">10</td>
</tr>
<tr>
<td>WDAY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$9.9</td>
<td>$9.8</td>
<td>$9.8</td>
<td>$250.00</td>
<td>$39.2K</td>
<td>1.7K</td>
<td style="text-align: right;">23</td>
</tr>
<tr>
<td>WDAY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/07/24</td>
<td>$49.0</td>
<td>$46.6</td>
<td>$49.0</td>
<td>$260.00</td>
<td>$39.2K</td>
<td>0</td>
<td style="text-align: right;">8</td>
</tr>
</tbody>
</table>

<h3>About Workday</h3>
Workday is a software company that offers human capital management, or HCM, financial management, and business planning solutions. Known for being a cloud-only software provider, Workday is headquartered in Pleasanton, California. Founded in 2005, Workday now employs over 18,000 employees.
In light of the recent options history for Workday, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Present Market Standing of Workday</h3>
<ul>
<li>With a trading volume of 467,898, the price of WDAY is up by 2.2%, reaching $212.0.</li>
<li>Current RSI values indicate that the stock is may be oversold.</li>
<li>Next earnings report is scheduled for 83 days from now.</li>
</ul>
<h3>Professional Analyst Ratings for Workday</h3>
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $306.0.
<ul>
<li>An analyst from Piper Sandler has decided to maintain their Overweight rating on Workday, which currently sits at a price target of $280. </li>
<li>An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $350. </li>
<li>Maintaining their stance, an analyst from TD Cowen continues to hold a Buy rating for Workday, targeting a price of $290. </li>
<li>Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for Workday, targeting a price of $310. </li>
<li>Consistent in their evaluation, an analyst from RBC Capital keeps a Outperform rating on Workday with a target price of $300. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Workday options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Check Out What Whales Are Doing With WDAY

Salesforce Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) shares are trading lower Thursday after multiple analysts slashed their price targets&nbsp;following <a target="_blank" href="https://www.benzinga.com/news/earnings/24/05/39086924/salesforce-stock-is-tumbling-thursday-whats-going-on" rel="noreferrer noopener">the first-quarter print</a>.
Salesforce reported first-quarter revenue of $9.13 billion, missing the analyst&nbsp;consensus of $9.15 billion. The adjusted EPS of $2.44 beat the analyst consensus of $2.38.
BofA Securities analyst Brad Sills reiterated a Buy rating and cut his <a target="_blank" href="https://www.benzinga.com/quote/CRM/analyst-ratings" rel="noreferrer noopener">price target from $360 to $288</a> on the demand environment reversion.
The analyst attributed the performance to the quarter&#8217;s weakening buying environment that the application companies faced after the short-lived fourth-quarter strength.
He acknowledged limited visibility on an improving software spending environment, casting doubt on second-quarter growth prospects.
Stifel analyst J. Parker Lane maintained a Buy with a price target of $300, down from $350.
Lane said various headwinds outweighed green shoots in Data Cloud, Industry Cloud, public sector, and financial services this quarter as the company noted a demand environment similar to the past two years.
While the macro&#8217;s current effect on the group is undoubted, the analyst continues to see Salesforce as a clear generative AI beneficiary over the coming years.
Truist Securities analyst Terry Tillman reiterated a Buy with a price target of $300, down from $360.
Salesforce had a mixed quarter. The company noted a continuation of measured buying behavior leading to longer deal cycles and deal compression but reiterated that it is seeing favorable trends with key growth levers like Data Cloud, multi-cloud adoption, and the Industry Clouds.
Tillman recommends buying on weakness as the profit improvement and capital allocation story is firmly intact.
The analyst added that Data Cloud, Industry Solutions, MuleSoft, and AI drivers could help subscription revenue and cRPO growth inflect going forward, especially in the seasonally stronger second half and amid any improved macro backdrop.
BMO Capital analyst Keith Bachman remained Outperform with a price target of $265, down from $335.
The quarter was disappointing, and the lowered revenue guidance left some risk, given the poor execution and buying environment witnessed in the first quarter.
Wedbush analyst Daniel Ives maintained an Outperform with a price target of $315, down from $325.
As per Ives, Salesforce is on the path to a higher growth, margin, and FCF trajectory, and this is just a tiny bump in the road during a transitionary growth period.
As the AI story takes shape, Salesforce will remain one of his favorite tech names over the next year.
He would be a buyer on weakness, considering it in a turnaround in motion for a premier tech stalwart with a massive installed base led by one of the best CEOs in the global tech landscape.
DA Davidson analyst Gil Luria maintained a Neutral with a price target of $230, down from $300.
Salesforce reported softer-than-expected first-quarter results following a solid fourth quarter as booking momentum stalled and macro headwinds persisted, Luria noted.
The analyst said that profitability was slightly lower than projected. Still, management continues to drive incremental efficiency gains and generate significant FCF, giving the company increased capital allocation optionality to drive shareholder returns.
While the second-quarter guide was weaker than expected, the company reiterated fiscal 2025 numbers given favorable demand and pricing trends.
Oppenheimer analyst Brian Schwartz maintained an Outperform with a price target of $280, down from $325.
Salesforce&#8217;s bookings in the first quarter and second quarter missed street expectations driven by similar macro themes but also by internal execution, Schwartz noted, leading to a mere 2% CRPO billings growth in the first quarter.
Additionally, management maintained the fiscal 2025 revenue guidance despite the bookings shortfall and expectations that the first-quarter buying conditions persist this fiscal year, which makes the guidance less conservative, the analyst said.
As per Schwartz, the slowdown in enterprise software spending likely reflects AI crowding out investments and slower hiring.
Positively, the AI commentary and cash generation remain strong. He expects the shares to remain under pressure until investors understand that the first-quarter issues are not secular.
Mizuho analyst Gregg Moskowitz reiterated a Buy with a price target of $300, down from $345.
Notwithstanding a poor first-quarter performance and ongoing macro challenges, Moskowitz noted that Salesforce remains well-situated to help its vast customer base manage revenue and process optimization via digital transformation. It is amid a new chapter dictated by profitable growth above all else.
Piper Sandler analyst Brent A. Bracelin maintained a Neutral with a price target of $250, down from $300.
Lower guidance from Workday, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) last week combined with Salesforce tonight could create additional uncertainty across the SaaS industry where industry growth rates are poised to moderate for the third straight year, Bracelin said.
The re-rating factored in a more persistent macro headwind.
Goldman Sachs analyst Kash Rangan reiterated a Buy with a price target of $315, down from $345.
While acknowledging investors&#8217; need to gain confidence in the trajectory of top-line growth and potential re-acceleration, Rangan said there are both macro and micro reasons for optimism.
The analyst noted that both headwinds from interest rate easing, uncertainty abating after this year&#8217;s elections, and outsized growth potential from Gen-AI could all serve as growth catalysts.
Rangan continued to see room for meaningful margin expansion, irrespective of the macrocycle.
With a formidable moat of differentiated front-office data, he argued that Salesforce is an under-appreciated Gen-AI winner and viewed it as a high-quality software franchise.&nbsp;&nbsp;
Roth MKM analyst Richard K. Baldry maintained a Buy with a price target of $335.
Baldry said that Salesforce&#8217;s growth appeared to strengthen in the fourth quarter, but the first quarter reverted to prior weakness.
With fourth-quarter over-execution appearing as an outlier, it seems ironic that the world&#8217;s largest sales tool vendor has so little insight into its own sales drivers, as per the analyst.
Simply calling for sales teams to start with 3x pipeline coverage instead of 2x as a solution leaves his near-term confidence low. However, he noted Salesforce remains well-positioned to benefit from an AI-driven spending rebound.
Needham analyst Scott Berg reiterated a Buy with a price target of $345.
Overall, Berg noted headwinds, including budget scrutiny, deal compression, and deal cycle elongation, while a GTM change also played a role in the lower-than-expected bookings.
These factors slowed CRPO growth to 9.5%, the poorest result he saw over the past five years. Multi-cloud deal trends and overall interest in Data Cloud served as positives, along with benefits from recent pricing and packaging changes, as per Berg.
He added that guidance was unchanged at the top line, signaling management&#8217;s confidence in their ability to execute after the miss, but investors may hesitate after the first-quarter result.
Price Action: CRM shares traded lower by 21.10% at $214.37 at the last check on Thursday.
Photo via Shutterstock

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Shares of software and IT stocks are trading lower, possibly following weak guidance from Salesforce.

Workday continues to add to its AI capabilities. Last quarter, it announced several new AI innovations to make it easier for developers and partners to build intelligent solutions for customers to discover.

Cloud Stocks: Workday Focuses On AI Offerings To Combat Macro Conditions

Workday (WDAY) has provided an update. Workday, Inc. has boosted its Board of Directors by appointing Michael L. Speiser, a seasoned venture capita...

Workday Enhances Board and Affirms Shareholder Decisions

Wells Fargo analyst Michael Turrin maintained a Buy rating on Workday (WDAY – Research Report) yesterday and set a price target of $275.00. The com...

New Buy Rating for Workday (WDAY), the Technology Giant


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