Workday stock gets Wells Fargo upgrade, target raised to $215

Wells Fargo analyst Michael Turrin raised his price target on Workday stock to $215 from $185 on August 12, 2026, maintaining an Overweight rating as the enterprise software company continues to benefit from accelerating adoption of its artificial intelligence capabilities.

The $215 target represents roughly 22% upside from Workday’s trading level near $177 on August 13, 2026, and signals Wells Fargo’s confidence in the company’s AI-driven growth trajectory heading into earnings on August 27.

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Workday’s artificial intelligence initiatives have emerged as a significant growth driver for the company. In its fiscal 2027 first quarter results released in May 2026, the company revealed that agentic AI annual contract value grew more than 200% year-over-year, demonstrating strong market demand for its AI-powered automation features.

The company raised its operating margin guidance in May 2026, citing growing adoption of its artificial intelligence capabilities across its human resources and finance software platform. Workday delivered 1.7 billion AI actions across its platform in fiscal 2026, according to the company’s February 2026 earnings announcement, and has been expanding its AI agent offerings to help customers automate routine business processes.

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Turrin, Wells Fargo’s Managing Director and software analyst, has been closely tracking the software sector’s shift toward AI-driven profitability. The analyst highlighted in earlier commentary that investor sentiment in software stocks had been weighed down by uncertainty around the broader AI trade narrative, but Wells Fargo’s upgrade of Workday reflects its view that the company is well-positioned to capture value from enterprise AI adoption.

Workday stock had rebounded sharply in recent months, gaining approximately 31% in July 2026 before the Wells Fargo upgrade, as investors rotated back into beaten-down enterprise software names. The stock remains under pressure from a short interest position of 15.63%, according to market data, but the Wells Fargo upgrade adds to analyst bullish sentiment ahead of the August 27 earnings report.

Sources

Yahoo Finance / MT Newswires — Wells Fargo raised Workday price target to $215 from $185, maintained Overweight rating
GuruFocus — Wells Fargo maintained Overweight rating on Workday with price target raised to $215
MarketScreener — Wells Fargo adjusted price target on Workday to $215 from $185, kept Overweight rating
Workday press release (February 2026) — Workday delivered 1.7 billion AI actions in fiscal 2026; agentic AI annual contract value grew more than 200%
Trustwave / Financial sources — Workday shares rose on upgraded margin forecast in May 2026 citing AI progress
Yahoo Finance — Workday stock trading near $177 on August 13, 2026; 31% gain in July 2026; short interest at 15.63%

About the author, Chris Martin

Chris Martin is a US economics and current affairs journalist covering the intersection of policy, markets, and everyday financial life. With a background in financial reporting and a sharp eye for the stories behind the numbers, Chris brings clarity to some of the most complex issues shaping the American economy today. At ECIKS.org, Chris covers breaking developments across domestic economic policy, business strategy, Wall Street movements, and political decisions that ripple through financial markets. His reporting blends rigorous data analysis with accessible storytelling making critical information useful for investors, entrepreneurs, and engaged citizens alike.