Workday Jumps 7% in Second-Day Rally After February Slump
Bargain hunting followed a steep February slide, leaving sentiment cautious given leadership turnover and a lower sales outlook.
Overview
- Shares rose 7.16% to $143.61, extending a rebound that has lifted the stock roughly 14% from last week’s intraday low.
- The bounce comes after a 24% drop in February that followed Workday trimming its full-year sales growth forecast.
- CEO Carl Eschenbach is stepping down, with co‑founder Aneel Bhusri returning to lead the company.
- Jefferies downgraded Workday to hold and also cut ratings on DocuSign, Monday.com, and Freshworks, reflecting pressure across enterprise software names.
- Workday reported solid results — full-year net income up 32% to $693 million on 13% revenue growth to $9.5 billion — as commentators pointed to a roughly 13x earnings multiple and AI-related execution risks.