Top Wall Street analysts pick these stocks for attractive returns

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TipRanks analyst ranking service pinpoints Wall Street's best-performing stocks, including Nvidia & Workday.

), a provider of cloud-based finance and human resources applications, issued a subdued outlook for fiscal 2024, which overshadowed better-than-anticipated results for the fourth quarter of fiscal 2023.noted that Workday continues to gain market share in human capital management and financial management solutions in the enterprise space, though its pace of growth ahead is "slightly tempered by macro uncertainty.

Marcon also noted that despite elongated enterprise sales cycles due to macro pressures, Workday gained seven new Fortune 500 and 11 new Global 2000 customers in the fiscal fourth quarter. The analyst said that the new co-CEO Carl Eschenbach is "quickly making a mark on WDAY" and that the company is expected to reaccelerate subscription revenue growth to the 20% level once the macro backdrop is normalized.

"While our near-term expectations are more muted, we believe the valuation relative to the long-term potential continues to be attractive considering WDAY's high net revenue retention , high GAAP gross margins, strong FCF [free cash flow] and strong growth potential given financials moving to the cloud," said Marcon.

The analyst slightly lowered his price target for Workday stock to $220 from $223 to reflect near-term pressures. He reiterated a buy rating, given the company's long-term growth potential.out of the analysts followed on TipRanks. His ratings have been profitable 60% of the time, generating a 13.5% average return. (See

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