Workday, Inc. (WDAY) earnings on August 27, 2026
Prior outlook: No statistical edge
Workday's stock swung wildly after its latest results, jumping more than 7% then falling nearly 8% before settling 5.76% higher. An analyst downgraded the stock and investors worried about potential interest rate increases.
WDAY price around the earnings
204.72
Change: +5.8%
2026-08-28, 20:00 UTC
- Price: green if it ends above the starting price; red if it ends below
- Start of the measured window
- End of the measured window
- Market open
- No trading (market closed)
- Starting price
Prior thesis
Prior outlook: No statistical edge
- Thesis published
- Results released
Exceptional rally but overvaluation risk
The stock has surged nearly 40% over the past month and has beaten earnings expectations every single time over the past year. While one analyst recently raised their price target, other analysts still see limited upside from current levels, suggesting the stock may be overvalued.
Context analyzed before publication
- Summary
- Exceptional rally but overvaluation risk
- Playbook
- The stock's 30-day trend strength of +29.34% far outpaces the broader tech sector's +4.27%. It cases near its 52-week high at $192.26, though the average analyst price target implies about 2.6% downside. The earnings beat rate is perfect at 100%.
- Trend
- Trend strength surged then stabilized, mixed contexts
Analysts
Drivers
-
Analysts
Negative
PT promedio de $188 implica un -2.6% con perspectiva pesimista aunque Canaccord lo elevó a $225; mayoría compra pero la acción viene de una subida fuerte.
Evidence
- Analyst consensus
- Buy
- Consensus average (1-5)
- 2.2
- Analysts covering the stock
- 38
- Average price target
- 188.21
- Lowest price target
- 92
- Highest price target
- 275
- Upside to price target
- -2.6%
- Quarterly earnings growth
- 226.5%
- Revenue growth
- 13.5%
- Forward EPS
- 12.64
- Trailing EPS
- 3.2
- Analyst moves in the last 60 days
- 10
- Strong buy: 5
- Buy: 16
- Hold: 17
- Sell: 1
- Strong sell: 2
- Strong buy
- 5
- Buy
- 16
- Hold
- 17
- Sell
- 1
- Strong sell
- 2
- August 25, 2026 · Canaccord Genuity: Maintains rating (Buy → Buy)
- August 24, 2026 · Jefferies: Maintains rating (Hold → Hold)
- August 24, 2026 · Oppenheimer: Maintains rating (Outperform → Outperform)
- August 19, 2026 · B of A Securities: Maintains rating (Neutral → Neutral)
- August 17, 2026 · BTIG: Downgrades rating (Buy → Neutral)
- August 14, 2026 · Jefferies: Maintains rating (Hold → Hold)
- August 14, 2026 · Baird: Maintains rating (Outperform → Outperform)
- August 14, 2026 · UBS: Maintains rating (Neutral → Neutral)
- August 14, 2026 · Piper Sandler: Maintains rating (Neutral → Neutral)
- August 12, 2026 · Wells Fargo: Maintains rating (Overweight → Overweight)
News and sentiment
Drivers
-
News & sentiment
Positive
Canaccord Genuity raised PT to $225 on positive outlook; single positive news catalyst.
Evidence
Sentiment
- Sentiment
- Constructive
- Mention volume
- High
- Normalized volume
- 99%
News
Sources (5)
- Marvell Technology Could Swing $20.8 Billion After Earnings (opens in a new tab) — Benzinga
- Canaccord Genuity Maintains Buy on Workday, Raises Price Target to $225 (opens in a new tab) — Benzinga
- Oppenheimer Maintains Outperform on Workday, Raises Price Target to $220 (opens in a new tab) — Benzinga
- Top S&P 500 Stocks to Watch This Week: CrowdStrike, Salesforce, Workday (opens in a new tab) — Benzinga
- B of A Securities Maintains Neutral on Workday, Raises Price Target to $205 (opens in a new tab) — Benzinga
Technicals
Drivers
-
Technical
Neutral
30d trend strength +29.34% vs QQQ +4.27% con comportamiento relativo excepcional; acercándose a resistencia de 52 semanas en $192.26; soporte en $190.17.
Evidence
- Price when the context was analyzed
- 190.73
- Average true range (ATR)
- 4.6%
- Distance to 52-week high
- -22.0%
- 14-day change (14d)
- +8.9%
- 30-day change (30d)
- +29.3%
- 30-day relative strength
- +25.1%
- QQQ change (30d)
- +4.3%
- Nearest support
- 190.17
- Distance to nearest support
- 0.3%
- Nearest resistance
- 192.26
- Distance to nearest resistance
- 0.8%
- Volume accumulation ratio (14d / 46d)
- 1.03
- Mid: 190.17 (0.3% away, 0.06 ATR, 16 touches)
- Minor: 187.45 (1.7% away, 0.38 ATR, 2 touches)
- Mid: 185.81 (2.6% away, 0.57 ATR, 10 touches)
- Minor: 192.26 (0.8% away, 0.18 ATR, 6 touches)
- Mid: 193.62 (1.5% away, 0.33 ATR, 12 touches)
- Mid: 195.05 (2.3% away, 0.5 ATR, 18 touches)
Trends
Evidence
- Average earnings surprise
- +5.8%
- May 21, 2026: actual EPS 2.66 vs estimate 2.52 (surprise +5.7%)
- February 24, 2026: actual EPS 2.47 vs estimate 2.32 (surprise +6.4%)
- November 25, 2025: actual EPS 2.32 vs estimate 2.17 (surprise +6.7%)
- August 21, 2025: actual EPS 2.21 vs estimate 2.12 (surprise +4.4%)
Expected move
Drivers
-
Past earnings
Positive
100% beat rate with +5.8% avg surprise across last 4 quarters; strong historical earnings reaction pattern.
- Implied move
- +10.2%
- Source
- Options chain
Reactions over its last 20 earnings
- Median move
- 5.9%
- 75th percentile move
- 10.3%
- 90th percentile move
- 12.8%
- Up / down moves
- 12 / 8
- Average up move
- +7.2%
- Average down move
- -7.3%
Monitoring and close
What Workday, Inc. reported
- Status
- Finished
| Actual EPS | 2.75 |
|---|---|
| EPS estimate | 2.61 |
| EPS surprise | +5.4% |
| Revenue | $2,649 million |
| Revenue estimate | $2,636 million |
| Revenue surprise | +0.5% |
Sources (13)
- Workday CFO Says Current Target For FY28 Subscription Revenue Growth Is Consistent With Expected Second-Half FY27 Growth Rate Of ~11%; Expect Non-GAAP Operating Margin To Expand By At Least Two Percentage Points Next Year (opens in a new tab) — Benzinga
- Workday shares slide 5% as revenue outlook offers little upside surprise (opens in a new tab) — Investing.com
- Workday (WDAY) Surpasses Q2 Earnings and Revenue Estimates (opens in a new tab) — Zacks
- Gap, Workday, Autodesk stocks moving on Q2 earnings results (opens in a new tab) — Yahoo Finance Video
- Workday Stock Falls As Earnings Beat, Guidance Underwhelms (opens in a new tab) — Investor's Business Daily
- Workday Posts Earnings Beat, Rosier Subscription Outlook. The Stock is Falling. (opens in a new tab) — Barrons.com
- Workday Reports Higher Profit, Revenue on AI Agent Adoption (opens in a new tab) — The Wall Street Journal
- Workday (NASDAQ:WDAY) Exceeds Q2 CY2026 Expectations But Stock Drops (opens in a new tab) — StockStory
- Workday Board Authorizes Open-Ended Repurchase of Up to An Additional $4B of Its Outstanding Shares Of Class A Common Stock (opens in a new tab) — Benzinga
- Workday Sees Q3 Sales $2.515B vs $2.697B Est (opens in a new tab) — Benzinga
- Workday Lowers FY2027 Sales Guidance from $10.635B-$10.660B to $9.940B-$9.950B vs $10.669B Est (opens in a new tab) — Benzinga
- Official quarterly figures pending confirmation. — Benzinga
- Workday Q2 Adj. EPS $2.75 Beats $2.61 Estimate, Sales $2.649B Beat $2.636B Estimate (opens in a new tab) — Benzinga
Pre-market second reading after the results
- Verdict
- Beat expectations
Heading into the open, results beat expectations on both earnings and revenue and the price is indicating +0.9% pre-market, a move below the stock's usual reaction (about 6%). The figures don't confirm the prior scenario: that move is too small to draw conclusions from.
How the stock reacted
- Consolidated
- +5.8%
- Max move
- -8.0%
No verdict: the outlook took no direction, so there is nothing to score as a hit or a miss.