5 High Growth Low Debt Stocks to Buy

3. Workday, Inc. (NYSE:WDAY)

EPS Next 5-Year Ratio: 28.79%

Debt-to-Equity Ratio: 0.49

Number of Hedge Fund Holders: 77

Based in Pleasanton, California, Workday, Inc. (NYSE:WDAY) is a leading provider of enterprise cloud applications for finance and human resources. Its platform is used by more than 10,000 organizations around the world and across industries – from medium-sized businesses to more than 50% of the Fortune 500.

On November 28, Workday, Inc. (NYSE:WDAY) released its results for quarter ended October 31, 2023. Its revenue increased by 17% y-o-y to $1.9 billion, while it generated a net income of $114 million, compared to a net loss of $75 million.

Following the earnings release, Wells Fargo analyst Michael Turrin raised the price target for Workday, Inc. (NYSE:WDAY) shares to $300 and maintained an ‘Overweight’ rating.

Polen Capital, an investment management firm, made the following comments about Workday, Inc. (NYSE:WDAY) in its “Polen Global Growth” third quarter 2023 investor letter:

“Workday continues to compound by replicating its go-to-market strategy with high-value and known products into its addressable market. The company’s initiatives into financials and expanding into other geographies required some patience, and the progress we have seen shows addressable market expansion that can allow for many years of outsized and compounding growth. The price, competitive advantages, and likelihood of outsized growth led us to size Workday as a larger position within the Portfolio.”