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Pathikrit Bose

Workday Shares Fall on KeyBanc Downgrade. Here's What to Make of WDAY Stock Now.

Workday WDAY Keybanc Artificial Intelligence Salesforce SANA ServiceNow

Workday (WDAY), the enterprise software company, saw its shares fall by 3% in Friday's trading session after leading broker KeyBanc downgraded the stock to “Sector Weight” as the firm reckons companies would spend more on enhancing other AI capabilities over HR budgets.

Jason Celino of the firm said, “We believe the timeline for more meaningful contribution remains very early and hypothesize that HR IT budgets may continue to take a back seat to more immediate AI initiatives at the Enterprise IT level.”

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