UBS Cuts PT on Workday (WDAY) to $170 From $240, Maintains a Neutral Rating

Core Viewpoint - Workday, Inc. (NASDAQ: WDAY) is currently considered one of the most oversold stocks on NASDAQ, with recent price target adjustments from various analysts following the return of co-founder Aneel Bhusri as CEO, indicating mixed sentiments about the company's future performance [1][3]. Group 1: Price Target Adjustments - UBS has lowered its price target for Workday from $240 to $170 while maintaining a Neutral rating [1]. - Stifel adjusted its price target from $235 to $175, also maintaining a Hold rating, citing challenges in the company's revival under the previous co-CEO [2]. - BTIG revised its price target from $285 to $230, keeping a Buy rating, expressing optimism about the company's ability to navigate the AI landscape under the new CEO [3]. Group 2: Leadership Changes - Aneel Bhusri has returned as CEO, replacing Carl Eschenbach, which has prompted analysts to reassess the company's direction [1][3]. - Stifel noted that the departure of Eschenbach was not surprising, as the company's revival has been more challenging than expected [2]. Group 3: Company Overview - Workday, Inc. specializes in developing enterprise cloud applications for finance and human resources, offering solutions for human capital management, financial management, and analytics tailored for educational institutions, companies, and government agencies [4].