Workday Inc (NASDAQ:WDAY) shares are trading lower after the company lowered its longer-term annual subscription growth guidance late Wednesday. Several analysts cut price targets on Thursday.
What To Know: Workday held its financial analyst day on Wednesday. The company lowered its annual subscription revenue growth target from more than 20% to a range of 17% to 19%.
In reaction to the news, several analysts adjusted price targets, which has added to the pressure on the stock.
- Barclays Maintained an Overweight rating on Workday and lowered the price target to $249
- Citigroup analyst Steven Enders maintained Workday with a Neutral and lowered the price target from $247 to $236.
- BofA Securities analyst Brad Sills maintained Workday with a Buy and lowered the price target from $275 to $260.
- Morgan Stanley analyst Keith Weiss maintained Workday with an Overweight and lowered the price target from $260 to $245.
- Piper Sandler analyst Brent Bracelin maintained Workday with an Overweight and lowered the price target from $288 to $275.
- Needham analyst Scott Berg reiterated Workday with a Buy and maintained a price target of $250.
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WDAY Price Action: Workday shares were down 11.2% at $205 at the time of writing, per Benzinga Pro.
Photo: courtesy of Workday.
