Workday saw its IBD SmartSelect Composite Rating rise to 96 Monday, up from 92 the day before.
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The revised score means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major moves.
Workday broke out earlier, but has fallen back below the prior 252.72 entry from a cup without handle. In the scenario where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new pattern to take shape.
The stock sports a 97 EPS Rating, which means its recent quarterly and longer-term annual earnings growth is outpacing 97% of all stocks.
Its Accumulation/Distribution Rating of C shows a roughly equal amount of buying and selling by institutional investors over the last 13 weeks.
In Q1, the company posted 28% EPS growth. That means it's now delivered two straight quarters of rising EPS gains. Revenue growth came in at 13%, down from 15% in the previous quarter.
Workday earns the No. 8 rank among its peers in the Computer Software-Enterprise industry group. Palantir Technologies, Cloudflare and ServiceNow 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.
