The previous year has indeed been an amazing year for companies involved in the technology business. The stocks went for the top and companies post unprecedented profits. Yet there was one company under the name of Workday (NYSE:WDAY) which failed to post a profit but managed to perform amazingly. The company at the moment is trading around the $80 mark and has caught the eyes of both investors and analysts. The sell side firm Barclays (NYSE:BCS) has indicated that the year 2015 would belong to Workday (NYSE:WDAY).
Workday (NYSE:WDAY) is an IT solutions company that specializes in cloud based solutions to its clients. The company allows the customer to subscribe to its services other than the license system. At the moment Workday (NYSE:WDAY) generates 75% of its revenue from subscription. Barclays (NYSE:BCS) predicts that by the end of this year, Workday (NYSE:WDAY) will be trading at around the $91 mark. Whereas another analyst firm Gartner Inc. (NYSE:IT) predicts that the shares would be trading at around $99 by the end of this year.
This is very promising news for Workday (NYSE:WDAY). Workday (NYSE:WDAY) failed to outperform during this last year. In fact its shares dropped by 1% but on the positive side, their S&P 500 index ranking rose by 12.4%. Workday (NYSE:WDAY) hopes to spin this performance on the positive side in this year. Workday (NYSE:WDAY) which has tremendous potential as indicated by two different firms will also perform better due to its security infrastructure.
It is very hard to break into the servers of Workday (NYSE:WDAY) as the company has spent a lot on its security apparatus. This makes Workday (NYSE:WDAY) a hot favorite among companies looking to secure their data. It seems that things are on the side of Workday Inc. (NYSE:WDAY) because out of the 34 analysts who are working on it have given some extremely positive calls. 17 of the analyst have given a buy call for Workday Inc. (NYSE:WDAY).
16 analysts believe that the investors should hold the stock of Workday Inc. (NYSE:WDAY) and only one analyst was in the favor of selling the shares of Workday Inc. (NYSE:WDAY). Even though Workday Inc. (NYSE:WDAY) booked a loss during the previous year, its revenue had increased by a monstrous 71% and during this year the prediction is of 67%. Even though Workday Inc (NYSE:WDAY) has failed to announce a profit since its initial public offering (IPO), it is said that the company will start making money for its shareholders by 2017.
This is surely another positive indication for Workday Inc. (NYSE:WDAY). The USA at the moment without any surprises is ranked number one in terms of IT spending. The competition will increase as time goes by and only the fittest will survive. Workday Inc. (NYSE:WDAY) and its cloud computing expertise are part of this market and are looking to become one of the leading companies offering solutions to its multi dimensional clients from across the globe.