Morgan Stanley Slashes 3 SaaS Stocks by 34%, WDAY and ADBE Hit Hardest
Morgan Stanley's bearish calls on Workday, Adobe, and BlackLine highlight growing skepticism of AI monetization in enterprise SaaS. Price targets were cut by up to 34%, with concerns over growth deceleration, leadership gaps, and delayed AI revenue. Investors punished the stocks, sending WDAY down 3.6%.