Options Traders, Analysts Respond to Workday's Q2 Win

Piper Sandler lifted WDAY's price objective to $288 from $280

Digital Content Manager
Aug 25, 2023 at 10:50 AM
facebook X logo linkedin

Workday Inc (NASDAQ: WDAY) shared better-than-expected second-quarter earnings and revenue after yesterday's close, and raised its 2024 subscription revenue target after this quarter's 18.8% year-over-year jump to $1.62 billion. No fewer than 15 analysts hiked their price targets in response, including Piper Sandler to $288 from $280. At last glance, WDAY is up 2.3% at $229.94.

Options traders are chiming in on the results as well, with 3,959 calls and 3,790 traded so far, or nine times the volume that is typically seen at this point. Most popular is the weekly 8/25 215-strike put, with the 250-strike call in that same series trailing not too far behind, both of which expire at the close.

Short-term options traders have been much more bullish than usual. This is per Workday stock's Schaeffer's put/call open interest ratio (SOIR) of 0.70, which stands in the 13th percentile of annual readings.

The security has been consolidating above the $220 level after surging to an Aug. 1, one-year high of $240.18, with support from the 60-day moving average. Year-over-year, WDAY is up 38.5%.



How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.