5 Best Future Stocks For The Long Term

3. Workday Inc (NASDAQ:WDAY)

Number of Hedge Fund Investors: 81

In January, Morgan Stanley recommended high quality growth stocks which the firm believes can outperform this year. Workday Inc (NASDAQ:WDAY) was part of the list.

Insider Monkey’s analysis of 933 hedge fund portfolios at the end of 2023 showed that 81 hedge funds had stakes in Workday Inc (NASDAQ:WDAY).

Polen Global Growth Strategy stated the following regarding Workday, Inc. (NASDAQ:WDAY) in its fourth quarter 2023 investor letter:

“Workday, Inc.’s (NASDAQ:WDAY) stock price was weak coming into the quarter. At the company’s investor day in late September, management provided medium-term annual revenue guidance of 17-19%. Many investors were likely expecting annual revenue guidance of 20%+, so the 17- 19% guidance may have been viewed as a tad disappointing. Following the investor day, Workday’s stock price rose significantly during Q4, buoyed by the company’s fiscal Q3 2024 earnings report, which was better than anticipated and included management raising revenue guidance for their fiscal 2024. We view the long-term guidance provided at the investor day as likely to be conservative, with ample room for Workday to continue taking share in the $100bn+ global HCM (human capital management) market. We remain confident in Workday’s ability to generate 20%+ annualized earnings growth over the next three to five years.”