Stock Track | Workday Plunges 5.06% After-Hours Following Citigroup's Major Price Target Cut
Stock Track
Feb 27
Workday Inc. (WDAY) experienced a significant after-hours decline of 5.06% on Thursday, reversing gains made during the regular trading session.
The sharp drop followed news that Citigroup significantly lowered its price target on Workday shares to $148 from $247, while maintaining a Neutral rating on the stock. The substantial reduction in the firm's valuation estimate appears to have triggered the sell-off in extended trading.
The movement occurs against a backdrop of broader weakness in the software sector, which has faced investor concerns about competition from AI-powered rivals and valuation pressures throughout the year.
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