What Analyst Projections for Key Metrics Reveal About Workday (WDAY) Q3 Earnings

Wall Street analysts expect Workday (WDAY) to post quarterly earnings of $2.12 per share in its upcoming report, which indicates a year-over-year increase of 12.2%. Revenues are expected to be $2.41 billion, up 11.8% from the year-ago quarter.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.That said, let's delve into the average estimates of some Workday metrics that Wall Street analysts commonly model and monitor.The consensus estimate for 'Revenues- Subscription services' stands at $2.24 billion. The estimate indicates a year-over-year change of +14.1%.Analysts' assessment points toward 'Revenues- Professional services' reaching $179.94 million. The estimate indicates a change of -10.5% from the prior-year quarter.The average prediction of analysts places 'Subscription Revenue Backlog' at $26.95 billion. Compared to the current estimate, the company reported $22.19 billion in the same quarter of the previous year. View all Key Company Metrics for Workday here>>> Over the past month, Workday shares have recorded returns of -7.8% versus the Zacks S&P 500 composite's -0.3% change. Based on its Zacks Rank #3 (Hold), WDAY will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Workday, Inc. (WDAY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks