Workday, Inc. (WDAY) Price Target Lowered to $148 at Citi

Group 1 - Workday, Inc. reported fourth-quarter results with revenue of $2.53 billion and adjusted earnings per share of $2.47, exceeding analyst expectations [2] - The fiscal first-quarter guidance for subscription revenue is projected at $2.335 billion with a 30.5% adjusted operating margin, which fell below consensus estimates due to ongoing investments in AI initiatives [2] - Citi lowered its price target for Workday to $148 from $247 while maintaining a Neutral rating, and Morgan Stanley reduced its target to $185 from $200, indicating concerns over near-term margin pressures and AI-driven return timelines [1][2] Group 2 - Workday, founded in 2005 and headquartered in Pleasanton, California, specializes in cloud-based financial management, human capital management, and student information systems [3] - The company has a strong enterprise client base and a recurring subscription revenue model, positioning it well for long-term digital transformation spending [3] - BTIG also reduced its price target for Workday to $230 from $285 while maintaining a Buy rating, citing high investment requirements related to the AI strategy [2]