2 Software Stocks Suffering Steep Slides After Earnings

Group 1: Autodesk Inc (ADSK) - Autodesk reported a first-quarter earnings and revenue beat, along with a raised full-year guidance [2] - Following the earnings report, 11 brokerage firms increased their price targets, with Morgan Stanley raising its target from $330 to $370 [2] - Despite a slight decline of 0.3% to $294.03, Autodesk's stock is up 37% year-over-year [2] - Options volume for Autodesk is significantly high, running at 12 times the average daily pace, with notable activity in the 300-strike and 315-strike calls [3] Group 2: Workday Inc (WDAY) - Workday also reported a first-quarter earnings and revenue beat, but faced pressure due to a disappointing subscription revenue outlook [4] - The stock was down 10.8% to $242.48, with J.P. Morgan Securities maintaining an "overweight" rating, while six analysts cut their price targets [4] - Workday is experiencing its worst single-session drop since May 2024, with a decline of 6.4% in 2025 [4] - Options trading for Workday is exceptionally high, with 10,000 calls and 13,000 puts traded, which is 20 times the average daily volume [5]