Goldman Sachs assumed coverage of Workday Inc. with a Neutral rating and a $238 price target on January 12. The firm initiated coverage on 12 software stocks, highlighting artificial intelligence as a major long-term growth driver that will expand the sector's total addressable market over the next decade.
Regarding Workday specifically, Goldman Sachs offered a more cautious outlook. The firm noted that Workday's next stage of capturing market share may prove more challenging than previous cycles.
On January 5, RBC Capital adjusted its price target for Workday from $320 down to $300 while maintaining an Outperform rating. The firm suggested 2026 will be a pivotal year where companies prepared for enterprise AI adoption begin to see clear benefits.
Workday Inc. provides enterprise cloud applications in the United States and internationally.