🔴 Workday is trading 4.1% down today after Morgan Stanley downgrade citing HCM growth deceleration

Workday is trading 4.1% down at $141.24 after Morgan Stanley downgraded the stock and lowered its price target.

• Morgan Stanley shifted its rating from Equalweight to Underweight, cutting the price target to $145 from $185.
• The downgrade is driven by concerns over continued growth deceleration in the company's core Human Capital Management (HCM) business.
• The stock's decline stands in contrast to broader U.S. equity indices trading higher, underscoring the impact of the analyst reset.