Workday, Inc. (WDAY) is set to report its third-quarter earnings after the closing bell on Tuesday, November 25, and analysts are expecting solid year-over-year growth from the Pleasanton, California-based enterprise software company.

Wall Street consensus has earnings pegged at $2.17 per share, which would mark a nice jump from the $1.89 per share Workday posted in the same quarter last year. On the revenue side, analysts are looking for $2.42 billion compared to $2.16 billion a year earlier.

Recent Developments

Just last week on November 19, Workday announced it's acquiring Pipedream, an integration platform that connects more than 3,000 business applications. The move suggests the company is doubling down on making its platform more versatile and interconnected for enterprise customers.

Shares closed Monday's session up 0.7% at $226.64, showing relatively calm trading ahead of the earnings announcement.

What the Most Accurate Analysts Are Saying

Looking at recent activity from analysts with proven track records, there's been a fair bit of target adjustment heading into the report. Here's the breakdown:

Piper Sandler analyst Brent Bracelin made perhaps the most notable move, upgrading Workday from Underweight to Neutral on September 17 while raising his price target from $220 to $235. With an accuracy rate of 73%, Bracelin's shift to neutral suggests improving sentiment.

Barclays analyst Raimo Lenschow maintained an Overweight rating and nudged his price target up from $285 to $288 on September 18. Lenschow brings a 70% accuracy rate to his call, remaining among the more bullish voices on the stock.

TD Cowen analyst J. Derrick Wood, also with a 70% accuracy rate, kept his Buy rating but trimmed his target from $310 to $290 on September 17. Still optimistic, but tempering expectations a bit.

DA Davidson analyst Gil Luria maintained a Neutral stance while significantly raising his price target from $225 to $260 on September 19. With a 65% accuracy rate, Luria's substantial target increase suggests he sees more upside than his neutral rating might imply.

Citigroup analyst Steven Enders kept a Neutral rating and made a modest adjustment to his price target from $260 to $261 on November 3. This analyst carries a 67% accuracy rate.

The pattern here is interesting: most of these highly accurate analysts are sitting in neutral territory or just slightly bullish, with price targets that suggest modest upside from Monday's closing price. That positioning could indicate they're waiting to see how this quarter shakes out before getting more aggressive with their calls.