Workday CEO Carl Eschenbach Steps Down, Aneel Bhusri Takes Over
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6 days ago
0mins
Should l Buy WDAY?
Source: Newsfilter
- Executive Change: Workday CEO Carl Eschenbach has stepped down immediately, with co-founder Aneel Bhusri taking over; Bhusri's extensive leadership history from 2009 to 2024 indicates a significant shift in the company's direction.
- Market Pressure: Software stocks are under pressure as investors worry about AI's disruptive potential, with Workday's shares dropping 17% last year and over 20% year-to-date, reflecting diminished market confidence in the company's future.
- Job Cuts and Investment: To bolster its investment in technology, Workday cut approximately 1,750 jobs last year; despite Eschenbach's statement highlighting achievements in operational discipline and AI groundwork, the market's reaction remains negative.
- Industry Transformation: Bhusri stated that AI represents a transformation larger than SaaS, which will define the next generation of market leaders, indicating that the company will face new strategic challenges and opportunities ahead.
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Analyst Views on WDAY
Wall Street analysts forecast WDAY stock price to rise
31 Analyst Rating
22 Buy
9 Hold
0 Sell
Moderate Buy
Current: 144.040
Low
235.00
Averages
275.19
High
325.00
Current: 144.040
Low
235.00
Averages
275.19
High
325.00
About WDAY
Workday, Inc. is a provider of an artificial intelligence (AI) platform to help organizations manage their people, money, and agents. The Company provides over 11,000 organizations with cloud solutions powered by AI to help solve business challenges, including supporting and empowering their workforce, managing their finances and spending in an ever-changing environment, and planning for the unexpected. It offers Financial Management, Spend Management, Human Capital Management (HCM), Planning, and Analytics applications. The Company sells its solutions worldwide primarily through direct sales. It also offers professional services, both directly and through its Workday Services Partners, to help customers deploy its solutions. It offers businesses flexible solutions to help them adapt to their industry-specific needs and respond to change. It serves various industries, including professional and business services, financial services, healthcare, education, government, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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Salesforce's Position: Salesforce, a leading SaaS company, is highlighted as a key player in the software market, with its AI-driven customer relationship services expected to rebound and stabilize, despite current market volatility.
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