Valued at a market cap of $31.6 billion, Workday (WDAY) stock is down almost 60% from all-time highs. Investors are worried about AI replacing software services companies such as Workday, which has driven its stock price lower in the past year.
However, Workday just posted its best first-quarter growth in new bookings in five years, beat Wall Street estimates on both earnings and revenue, and raised its full-year profit margin forecast. For a tech stock that has been beaten down in 2026, this report could be a meaningful turning point.
