Dayforce, Inc. ($DAY) Stock Forecast: Up 5.7% Today

What is Dayforce, Inc.?

Dayforce (DAY) witnessed a significant uptrend in the market due to its human resources software and services offerings.

Why is Dayforce, Inc. going up?

DAY stock is up 5.7% on Aug 5, 2024 16:00

• DAY stock surged following its robust quarterly sales and profits, reflecting high demand for HR services.
• Despite a net loss in Q2, the company's adjusted earnings per share exceeded expectations, highlighting operational efficiency.
• Upward revisions in third-quarter and full-year revenue projections, along with an improved annual revenue forecast, buoyed investor confidence in DAY.
• The positive market sentiment towards Dayforce was also supported by the overall bullish trend in AI stocks and the increasing need for HR services, underscoring optimism about the company's future growth prospects.

DAY Price Chart

DAY Technical Analysis

DAY News

The Road to $1 Million: 3 AI Stocks to Secure Your Financial Future

These days, AI stocks are almost selling like pancakes, and I can’t blame investors. With almost every tech and tech-adjacent company announcing artificial intelligence integration into their business processes, AI service providers are getting more clients. At the same time, SaaS companies are injecting GPT into their existing platforms, allowing them to expand their offerings and rake in more revenue. Indeed, the AI trend is at full throttle, and everyone is eager to ride it to the top.  However, we can’t just buy every company with an “artificial intelligence” stamp on its products. Trends live and die all the time — and AI is no exception — but companies with solid operational foundations will always outlive the trend that got them in the spotlight. Therefore, investors must be more picky when choosing AI stocks, even if everyone seems to be buying them hand over fist.  So, today, I’ll discuss three stocks that seem to have what it takes to succeed. To get this list, I screened the market using the following criteria: Analyst ratings: Minimum of “buy.” Analyst coverage: Minimum of 12 analysts covering the stock. Earnings growth: Positive growth in the last year. Revenue growth: At least 10% in the last two years. Then, I took the top three based on the earnings growth in their latest fiscal year and will present them starting from number one. Here are the results:

https://investorplace.com/2024/08/the-road-to-1-million-3-ai-stocks-to-secure-your-financial-future/

Dayforce Stock Jumps as Demand for HR Services Drives Strong Quarter

Dayforce shares soared after the the provider of human resources software and services posted better-than-expected quarterly sales and profits.

https://www.investopedia.com/dayforce-stock-jumps-demand-for-hr-services-drives-strong-quarter-8686924

Ceridian Hcm (CDAY) Q2 2024 Earnings Call Transcript

CDAY earnings call for the period ending June 30, 2024.

https://www.fool.com/earnings/call-transcripts/2024/07/31/ceridian-hcm-cday-q2-2024-earnings-call-transcript/?source=iedfolrf0000001

Dayforce Falls To Loss In Q2, Yet Adj. EPS Beats Estimate; Stock Up

Dayforce, Inc. (DAY) Wednesday reported second quarter net loss, compared to profit last year, as expenses were comparatively higher than the prior year, despite a grwoth in revenues. On an adjusted basis, earnings per share beat estimates. Further, the company expects increase in third quarter and full year revenues.

https://www.rttnews.com/3464742/dayforce-falls-to-loss-in-q2-yet-adj-eps-beats-estimate-stock-up.aspx?type=ern

Dayforce lifts annual revenue forecast on strong payroll demand; shares rise

(Reuters) - Dayforce raised its full-year revenue forecast on Wednesday, banking on robust demand for its payroll and human capital management service…

https://kfgo.com/2024/07/31/dayforce-lifts-annual-revenue-forecast-on-strong-payroll-demand-shares-rise/

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Dayforce, Inc. Price History

07.01.2024 - DAY Stock was down 7.5%

• Ceridian HCM reported better-than-expected non-GAAP EPS, but this news did not have a positive impact on DAY's stock price.
• Dayforce's strong recurring revenue growth in the fourth quarter did not translate into a positive market movement for DAY.
• The earnings scheduled for various companies, including DAYFORCE INC COM, may have created a negative sentiment in the market, leading to the bearish movement in DAY's stock.

07.01.2024 - DAY Stock was down 7.2%

• DAY stock experienced a bearish movement today.
• The acquisition of eloomi by Dayforce might have had a negative impact on investor sentiment.
• Although DAY reported strong Q4 2023 earnings, beating expectations, the market reaction was bearish.
• The overall bearish market movement and the negative performance of other companies reporting earnings today could have influenced the downward movement of DAY stock.

08.01.2024 - DAY Stock was up 7.2%

• DAY shares fell in the morning session after reporting fourth-quarter earnings below Wall Street's expectations, with billings and customer count also missing estimates.
• Full-year revenue guidance fell below expectations, indicating slower growth compared to the previous year.
• However, DAY's revenue still beat expectations by a narrow margin, and recurring revenue showed a significant year-over-year increase in the fourth quarter.
• The completion of the acquisition of eloomi by Dayforce may have contributed to the overall bullish market movement.

30.04.2024 - DAY Stock was down 5.0%

• The launch of Dayforce Payroll in Singapore was expected to drive efficiency and strengthen compliance for the company.
• Despite the positive news of expanding globally, investors may have had concerns about the potential challenges and costs associated with entering a new market.
• The bearish movement could be a result of profit-taking by traders who were anticipating a different reaction to the news, leading to a temporary downturn in the stock price.
• Overall, the market sentiment towards DAY may have been impacted by a combination of factors, including profit-taking, market uncertainties, and investor reactions to the company's strategic moves.

05.03.2024 - DAY Stock was down 3.5%

• The stock price of Dayforce experienced a bearish movement today amid ongoing investigations by law firms into alleged securities law violations.
• The negative investor reaction to the news of possible non-disclosure of crucial information by the company or its executives may have impacted their investment returns.
• The uncertainty surrounding the investigations and the potential legal consequences for Dayforce likely influenced the downward pressure on its stock price today.

17.03.2024 - DAY Stock was up 5.2%

• DAY's bullish movement today could be attributed to the successful completion of the first phase of the global Dayforce implementation in 13 countries by Orica. This implementation indicates a step towards more efficient operations and potentially higher productivity for the company.
• The fact that employees are now live on the Dayforce platform across multiple continents suggests that Orica is embracing technological advancements to streamline its processes, which could have positively impacted investor confidence in the stock.
• This news showcases Orica's commitment to innovation and modernization, which may have resonated well with investors looking for companies that are adapting to the changing business landscape. This positive sentiment likely contributed to the bullish movement in DAY's stock price today.

08.06.2024 - DAY Stock was down 5.2%

• WHSmith implementing the full Dayforce Suite for its 10,000 UK employees could be seen as positive news, indicating growth and adoption of Dayforce's services.
• However, concerns about macro uncertainties could have spooked investors, leading to a bearish movement in the stock.
• The market might be reacting to the potential risks highlighted by analysts, causing a sell-off in DAY despite the positive partnership news with WHSmith.

11.06.2024 - DAY Stock was up 5.4%

• The bullish movement in DAY stock could be attributed to the positive sentiment generated by research findings emphasizing the importance of managers in addressing the complexity crisis faced by frontline workers.
• The discrepancy between executives' understanding of challenges and workers' perceptions might have sparked investor optimism about Dayforce, Inc.'s potential to bridge this gap effectively.
• Investors may view Dayforce, Inc.'s focus on improving frontline workforce dynamics as a strategic move that could lead to enhanced productivity and profitability, hence driving the stock price higher.

19.06.2024 - DAY Stock was down 6.6%

• The bearish movement in DAY could be attributed to the market reevaluating the performance of the current tech giants, leading investors to seek opportunities in the next generation of tech titans.
• The shift in focus towards the next generation of tech stocks may have caused a sell-off in DAY as investors reallocate their investments to potentially more promising opportunities.
• As investors consider diversifying away from the current tech giants, DAY might have been impacted by profit-taking and a repositioning of portfolios towards emerging tech companies.

01.07.2024 - DAY Stock was down 5.2%

• Dayforce (DAY) stock faced a significant bearish trend despite exceeding expectations with quarterly sales and profits.
• The rise in expenses from the previous year likely contributed to the net loss in Q2, affecting investor confidence negatively.
• Despite surpassing estimates with a positive adjusted EPS, market response may have been influenced by the increased expenses and uncertainties around the company's future growth opportunities.
• The reveal of a $500 million share repurchase program was insufficient to allay concerns about the company's financial performance, resulting in the bearish market movement.

05.07.2024 - DAY Stock was up 5.7%

• DAY stock surged following its robust quarterly sales and profits, reflecting high demand for HR services.
• Despite a net loss in Q2, the company's adjusted earnings per share exceeded expectations, highlighting operational efficiency.
• Upward revisions in third-quarter and full-year revenue projections, along with an improved annual revenue forecast, buoyed investor confidence in DAY.
• The positive market sentiment towards Dayforce was also supported by the overall bullish trend in AI stocks and the increasing need for HR services, underscoring optimism about the company's future growth prospects.