Workday (WDAY) Announces Plans to Invest CA$1 billion in Canada

Workday, Inc. (NASDAQ:WDAY) is one of the Best Long-Term Tech Stocks to Buy According to Analysts. On January 20, the company announced its plans to invest CA$1 billion in Canada over the next 5 years. This highlights Workday, Inc. (NASDAQ:WDAY)’s commitment to growth in Canada, including plans to further develop local tech talent and strengthen local customer support.

The announcement comes at a time when the Canadian government is focused on advancing its “Canada Strong” agenda, emphasizing responsible AI as well as domestic capability-building as national priorities. Workday, Inc. (NASDAQ:WDAY)’s CEO added that with the focus on redefining ERP for the AI era, the multi-year investment would help shape Canada’s digital future.

On January 12, Barclays reduced its price objective on Workday, Inc. (NASDAQ:WDAY)’s stock to $275 from $280, while keeping an “Overweight” rating. Notably, the firm adjusted its ratings and price targets for the broader software group in line with its 2026 outlook.

Workday, Inc. (NASDAQ:WDAY) offers enterprise cloud applications.

While we acknowledge the potential of WDAY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.