Workday

WDAY · NASDAQ

$203.98+$8.78 (+4.50%)TodayMarket closed · Oct 20, 7:59 PM ET

Prev close $195.20

WDAY analyst rating

HoldConsensus of 36 analysts over the last 12 months. 44% rate it a buy.

Strong buy0
Buy16
Hold17
Underperform3
Sell0

12-month price target · 41 analysts

Average $207.66 (+1.8% upside)

Low: $92.92
Now: $203.98
High: $288.75

Upgrades and downgrades

The latest rating actions, newest first

WDAY analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Keybanc	Oct 16, 2026	Downgrade	Overweight → Sector Perform	—	53%
Stifel	Oct 15, 2026	Maintains	Hold	$160.00 → $175.00	60%
UBS	Oct 14, 2026	Maintains	Neutral	$220.00 → $210.00	65%
Jefferies	Oct 8, 2026	Maintains	Hold	$220.00 → $210.00	60%
Needham	Oct 5, 2026	Maintains	Buy	$230.00	38%
Goldman Sachs	Aug 31, 2026	Maintains	Neutral	$151.00 → $164.00	59%
Freedom Broker	Aug 28, 2026	Downgrade	Buy → Hold	$180.00 → $200.00	53%
Wells Fargo	Aug 28, 2026	Maintains	Overweight	$215.00 → $225.00	49%
Stifel	Aug 28, 2026	Maintains	Hold	$115.00 → $160.00	60%
Citigroup	Aug 28, 2026	Maintains	Neutral	$139.00 → $201.00	52%

The case for and against

Updated Oct 14, 2026

Bull case

Workday is supported by steady customer demand for its cloud-only HCM, financial management, and business planning suite, with channel checks showing especially strong interest in Agentic innovations, Extend, and newly launched agents. Its fundamentals look solid because F2Q27 subscription revenue of $2,471M grew 13.9% y/y, cRPO rose 14.2%, 12-month subscription backlog reached $9.03B, and operating margin of 31.1% beat expectations, while net expansions contributed about 60% of subscription growth and implied NRR of 108-109%. The outlook is further strengthened by AI ARR approaching $600M on over 200% growth, more than 5,500 customers using at least one organic agent, and management’s early FY28 guide for about 11% subscription revenue growth and 33%+ margins, signaling durable growth and expanding profitability.

Bear case

Workday is facing a weaker fundamental setup as flex credits are creating sales friction, with customers struggling to forecast AI agent usage and costs even as interest remains high. Intensifying competition with Oracle, plus a highly competitive enterprise software market where larger rivals can pressure pricing, is making differentiation harder and could weigh on profitability and retention given Workday’s low switching costs. Recent guidance was underwhelming, with F3Q cRPO growth guided to 11%-12% versus 13.6% consensus and initial FY28 subscription revenue growth of 11% below 11.7% consensus, while broader economic softness has already reduced corporate IT spending over the past 36 months.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.