The most recent trading session ended with Workday (WDAY) standing at $271.49, reflecting a -1.82% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily loss of 0.61%. Elsewhere, the Dow saw a downswing of 0.47%, while the tech-heavy Nasdaq depreciated by 0.64%.

Coming into today, shares of the maker of human resources software had gained 15.11% in the past month. In that same time, the Computer and Technology sector gained 3.03%, while the S&P 500 gained 3.07%.

The investment community will be closely monitoring the performance of Workday in its forthcoming earnings report. The company is scheduled to release its earnings on November 26, 2024. In that report, analysts expect Workday to post earnings of $1.72 per share. This would mark year-over-year growth of 12.42%. Meanwhile, our latest consensus estimate is calling for revenue of $2.13 billion, up 13.98% from the prior-year quarter.

For the full year, the Zacks Consensus Estimates project earnings of $6.97 per share and a revenue of $8.39 billion, demonstrating changes of +19.35% and +15.6%, respectively, from the preceding year.

Any recent changes to analyst estimates for Workday should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Workday presently features a Zacks Rank of #2 (Buy).

In terms of valuation, Workday is presently being traded at a Forward P/E ratio of 39.69. This expresses a premium compared to the average Forward P/E of 32.77 of its industry.

Also, we should mention that WDAY has a PEG ratio of 1.89. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 2.45.