Workday (WDAY) Stock Gets Double-Downgraded. Here Is Why Analysts Are Tapping Out
TLDR
- Deutsche Bank and BTIG both downgraded Workday stock to Hold/Neutral on Monday
- WDAY fell 2.9% to $192.95 in premarket trading after dropping 3.8% on Friday
- The stock has surged 76% since its June 22 closing low of $113.04
- BTIG flagged that consensus growth expectations are โtoo optimisticโ for fiscal 2027
- Silver Lake was reported to be in acquisition talks, which drove an 18% spike last Thursday
Workday stock is pulling back after one of its sharpest rallies in years. Two Wall Street firms hit the brakes on Monday, downgrading the stock after a 76% run-up from its recent low.
Deutsche Bank cut its rating to Hold from Buy, while raising its price target to $220 from $180. BTIG moved to Neutral from Buy, pulling its previous $175 price target entirely.
Workday fell 2.9% to $192.95 in premarket trading on Monday. That came after a 3.8% drop on Friday.
The stock had surged nearly 18% last Thursday after Reuters reported that private-equity firm Silver Lake had been in discussions with Workday about a potential take-private deal.
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