Workday stock forecast shows potential upside given strong Q1 FY2024 results, with revenue up 17% YoY to $1.68B. Analysts note steady demand for HR and finance cloud solutions, while EPS beat consensus. Bullish sentiment is supported by robust enterprise SaaS spending trends. The analyst also sees investor concern growing over the intermediate-term outlook, as the company’s new management team has recently reaffirmed its 15% subscription growth targets. Likewise, the institutional trends are robust , with the group owning nearly 90% of the stock and buying on balance every quarter this year. The balance of activity in Q1, Q2, and the first half of calendar Q3 is nearly two dollars in purchases for every $1 sold. Long-term Workday stock forecast outlook sees potential CAGR of 15% over the next five years, supported by persistent digital transformation needs in human capital and finance automation. Revenue visibility is high, which bolsters analyst confidence.
