Workday saw its IBD SmartSelect Composite Rating jump to 96 Thursday, up from 94 the day before.
The revised score means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. The top-performing stocks tend to have a 95 or better grade as they kick off a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.
Workday is currently forming a consolidation, with a 311.28 buy point. Look for the stock to break out in volume at least 40% higher than normal.
Lean How — And When — To Sell Stocks
The stock sports a 97 EPS Rating, meaning its recent quarterly and annual earnings growth tops 97% of all stocks.
Its Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.
In Q2, the company reported 22% EPS growth. Top line growth fell to 17%, down from 18% in the prior quarter. The company's next quarterly report is expected on or around Nov. 26.
Workday earns the No. 17 rank among its peers in the Computer Software-Enterprise industry group. ServiceNow, Palantir Technologies and Shopify Cl A are among the top 5 highly-rated stocks within the group.
