Workday price target lowered to $180 from $220 at RBC Capital

RBC Capital analyst Rishi Jaluria lowered the firm’s price target on Workday (WDAY) to $180 from $220 and keeps an Outperform rating on the shares. The company reported decent Q4 results and weaker-than-expected guidance, sending shares down after-hours, the analyst tells investors in a research note. RBC adds however that despite weaker results, the firm remains encouraged by early signs of AI traction and sees favorable risk/reward for Workday.