Workday

WDAY

Market cap $34.5B

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WDAY's lower valuation and rising earnings estimates give it an edge over ANET despite weaker price performance and slower projected sales growth.

Workday (WDAY) reached $137.99 at the closing of the latest trading day, reflecting a +1.91% change compared to its last close.

An Evercore analyst notes that infrastructure software stocks have vastly outperformed application names. But there's still hope for companies like Salesforce.

These companies were hit hard as investors worried about eventual losses of market share to AI tools.

Top software stocks have slumped this year amid the lingering concerns that artificial intelligence tools by companies like OpenAI and Anthropic will hurt their revenue growth in the long term. ServiceNow (NOW) stock is down by 35% this year, while Salesforce (CRM), Workday (WDAY), and Adobe (ADBE) have fallen by over 40%.

Workday (WDAY) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might help the stock continue moving higher in the near term.

Oracle's stock missed out on the broader software rally, as the company is tied to OpenAI's success through its cloud-infrastructure business.

ServiceNow, WorkDay, and AppLovin are software stocks trading near the top of the S&P 500. Is the AI narrative around software changing?

The S&P 500 Index has surged more than 21% over the past 12 months and is up 7% year to date, adding trillions of dollars in market value. The rally has been fueled by the ongoing artificial intelligence boom, which has driven corporate earnings growth to multi-year highs.