Workday Stock: Will WDAY Stock Hit the $300 Mark In 2023?
- Workday Stock currently trading at $250.63 with a trading volume of 1.118 Million.
- WDAY stock price is heading upward and in a strong bullish momentum.
Workday stock price is in a strong bullish momentum making higher high structures and looking unstoppable at the moment. WDAY stock price gave an excellent return to its investors throughout the year. Since the beginning of the year, Workday has given an excellent return of 46.82% and it gave a positive return of 38.59% in a span of 6 months.
Additionally, the stock maintained its momentum in the previous 3 months by 22.26 returns, and last month it gave 10.05% returns to its investors. We can say that WDAY stock has been a gold mine for its investors in recent years.
When we take a look at the recent Q2 23 Earnings of the company, Workday reported a revenue of 1.77 Billion with a net income of 78.66 Million and the profit margin is 4.45%. The net income and profit margin are excellent when we compare it to Q1’23.
Furthermore, the intraday trading volume was 1.118 Million and the market cap of Workday stock was 65.665 Million. The company does not pay any dividends to its investors. The company has a basic EPS of -0.48. Currently, 204.222 Million floating stocks are in the market.
As per the trading view indicator summary 3 of them indicate a sell signal 8 are on the neutral side and 15 indicate a buy signal. The overall weightage is on the buy side.
According to the 33 analysts, the one-year maximum prediction of Workday is $310.00, and the minimum value is $169.00. However, the average price target is $261 above 4.28% of the current price.
Furthermore, 38 analysts gave their rating for 3 months in which the maximum weightage is on the buy side.
What Technical Chart Depicts About The Workday Stock Price?
Source: Tradingview
Currently, the Workday stock price is trading in an upward channel by making higher high structures with a strong bullish momentum above the key moving averages. At the time of writing, the Workday stock price is trading beyond the 20, 50, 100, and 200 moving averages indicating buyers’ influence on the stock price. EMAs show the trend is in the control of bulls and they are not in the mood to slip this control over the bears.
The MACD indicator is on a bullish trajectory where the MACD line is at 6.07 above the signal line (4.42). However, MACD is heading upward and the green histogram indicates strength in the trend
The RSI is in a positive trajectory indicating bullishness. However, the RSI line (69.36) is above the 14 SMA line (61.08) showing a strength in the trend.
Conclusion
The workday stock price is showing the power of bulls sustaining the uptrend. Most widely used indicators like MACD, RSI, and EMAs show strong bullishness in the trend. However, the overall trend is bullish right now on both one-day and weekly timeframes.
Technical Support and Resistance level
Support levels: S1 = $236.18 and S2 = $226.76.
Resistance levels: R1 = $263.34 and R2 = $290.50.
Disclaimer
The research delivered in this article is for informative and educational purposes only. Do not depend on this information as financial, investment, or trading recommendations. Investing and trading involve risk. Please consider your circumstances and risk forbearance before making any investment conclusions.
