AI投入加大压制利润率预期 Workday(WDAY.US)遭华尔街下调目标价

Core Viewpoint - Workday's stock price fell approximately 9% due to lower-than-expected subscription revenue and operating margin guidance, attributed to increased investments in generative AI and agentic AI to expand market potential [1] Group 1: Company Performance and Guidance - Workday's CEO Neel Bhusri refuted the narrative that AI will replace enterprise management software, emphasizing the complexity and necessity for accuracy in HR and ERP systems [2] - The company has lowered its subscription revenue growth forecast to 12%-13% and indicated that operating margin guidance for FY27 suggests only a 40 basis point expansion [2] - Analysts from Jefferies and Morgan Stanley have adjusted their target prices for Workday, with Jefferies lowering it from $150 to $115 and Morgan Stanley from $200 to $185, while maintaining a "hold" rating [2][1] Group 2: Analyst Ratings and Market Sentiment - BTIG maintained a "buy" rating for Workday but reduced its target price from $230 to $175, expressing a more optimistic view on Workday's AI strategy despite a projected slowdown in organic subscription growth [3] - Competitors in the market, such as SAP, Oracle, and Microsoft, showed varied stock performance, with Oracle and Microsoft experiencing slight increases [3]