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Why Workday Stock Plunged Today

TheMotleyFool

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Shares of Workday (NASDAQ: WDAY) fell 11.3% on Wednesday after at least three analysts reiterated their ratings, but also lowered their per-share price targets for the human capital management (HCM) platform company following its Analyst Day presentation.

Image source: Workday.

RBC Capital's Alex Zukin kept his outperform rating but lowered his per-share price target by $13 to $212. Zukin argued that Workday continues to enjoy steady growth, but is also seeing slowing penetration with large clients and lengthening sales cycles.

Source Fool.com

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