Workday stock had its Relative Strength (RS) Rating upgraded from 67 to 72 Tuesday — a welcome improvement, but still short of the 80 or better score you look for.
Can You Really Time The Stock Market?
IBD's unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks stacks up against all the other stocks in our database.
History shows that the market's biggest winners tend to have an RS Rating of over 80 as they launch their largest price moves. See if Workday stock can continue to rebound and hit that benchmark.
Is Workday Stock A Buy?
Workday stock has recently reclaimed its 200-day moving average. While the stock is not near a proper buying range right now, see if it is able to form and break out of a proper chart pattern. Given current stock market uncertainties and volatility, IBD recommends a cautious 40-60% market exposure. Be judicious with stock purchases.
Earnings growth rose in the company's latest report from 21% to 22%, but sales fell from 16% to 15%. Keep an eye out for the company's next round of numbers on or around May 22.
Workday stock earns the No. 9 rank among its peers in the Computer Software-Enterprise industry group. Palantir Technologies, Nexxen International and SAP ADR are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
