BUZZ-Jefferies downgrades software stocks amid AI disruption fears

Reuters02-23 18:40

BUZZ-Jefferies downgrades software stocks amid AI disruption fears

** Jefferies downgrades rating on Workday WDAY.O, DocuSign DOCU.O, Monday.com MNDY.O and Freshworks FRSH.O to "hold" from "buy", says application software sector remains under pressure

** Shares of WDAY, DOCU, MNDY, FRSH down between 2 and 3% premarket

** Brokerage also cuts PT on Salesforce CRM.N, Adobe ADBE.O, GoDaddy GDDY.N, Wix.com WIX.O and Asana ASAN.N

** As of last close, the S&P 500 software and services index .SPLRCIS is down 20.5% in 2026

** Software stocks have been on a selloff spree on possible disruption from AI, broadly triggered by a new legal tool from Anthropic's Claude large language model

** However, Jefferies prefers Intuit INTU.O, Procore technologies PCOR.N, Atlassian TEAM.O, Salesforce CRM.N based on "more durable models and internal AI adoption that underpins growth confidence"

** Following are the PT revisions on stocks:

Company Name	Previous PT	Current PT
Workday	$325	$150
DocuSign	$105	$45
Monday.com	$260	$80
Freshworks	$20	$8
Salesforce	$375	$250
Adobe	$400	$290
GoDaddy	$140	$100
Wix.com	$200	$130
Asana	$15	$8

(Reporting by Kanishka Ajmera in Bengaluru)

((mail to: Kanishka.Ajmera@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2613785172?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-02-23 18:40","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2613785172","market":"nz","top_or_hot":-1,"title":"BUZZ-Jefferies downgrades software stocks amid AI disruption fears","media":"Reuters","content":"<html xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>BUZZ-Jefferies downgrades software stocks amid AI disruption fears</title></head><body><p>** Jefferies downgrades rating on <a href=\"https://laohu8.com/S/WDAY\">Workday</a> <span>WDAY.O</span>, DocuSign <span>DOCU.O</span>, Monday.com <span>MNDY.O</span> and <a href=\"https://laohu8.com/S/FRSH\">Freshworks</a> <span>FRSH.O</span> to \"hold\" from \"buy\", says application software sector remains under pressure</p><p>** Shares of WDAY, DOCU, MNDY, FRSH down between 2 and 3% premarket</p><p>** Brokerage also cuts PT on <a href=\"https://laohu8.com/S/CRM\">Salesforce</a> <span>CRM.N</span>, <a href=\"https://laohu8.com/S/ADBE\">Adobe</a> <span>ADBE.O</span>, GoDaddy <span>GDDY.N</span>, Wix.com <span>WIX.O</span> and Asana <span>ASAN.N</span></p><p>     ** As of last close, the S&amp;P 500 software and services index <span>.SPLRCIS</span> is down 20.5% in 2026</p><p>** Software stocks have been on a <span>selloff spree</span> on possible disruption from AI, broadly triggered by a new legal tool from Anthropic's Claude large language model</p><p>** However, Jefferies prefers Intuit <span>INTU.O</span>, Procore technologies <span>PCOR.N</span>, Atlassian <span>TEAM.O</span>, Salesforce <span>CRM.N</span> based on \"more durable models and internal AI adoption that underpins growth confidence\"</p><p>** Following are the PT revisions on stocks:</p><table><tbody><tr><td><p>Company Name </p></td><td><p>Previous PT</p></td><td><p>Current PT</p></td></tr><tr><td><p>Workday</p></td><td><p>$325</p></td><td><p>$150</p></td></tr><tr><td><p>DocuSign</p></td><td><p>$105</p></td><td><p>$45</p></td></tr><tr><td><p>Monday.com</p></td><td><p>$260</p></td><td><p>$80</p></td></tr><tr><td><p>Freshworks</p></td><td><p>$20</p></td><td><p>$8</p></td></tr><tr><td><p>Salesforce</p></td><td><p>$375</p></td><td><p>$250</p></td></tr><tr><td><p>Adobe</p></td><td><p>$400</p></td><td><p>$290</p></td></tr><tr><td><p>GoDaddy</p></td><td><p>$140</p></td><td><p>$100</p></td></tr><tr><td><p>Wix.com</p></td><td><p>$200</p></td><td><p>$130</p></td></tr><tr><td><p>Asana</p></td><td><p>$15</p></td><td><p>$8</p></td></tr></tbody></table><p>(Reporting by Kanishka Ajmera in Bengaluru)</p><p>((mail to: Kanishka.Ajmera@thomsonreuters.com))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BUZZ-Jefferies downgrades software stocks amid AI disruption fears</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBUZZ-Jefferies downgrades software stocks amid AI disruption fears\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1032215980\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2026-02-23 18:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>BUZZ-Jefferies downgrades software stocks amid AI disruption fears</title></head><body><p>** Jefferies downgrades rating on <a href=\"https://laohu8.com/S/WDAY\">Workday</a> <span>WDAY.O</span>, DocuSign <span>DOCU.O</span>, Monday.com <span>MNDY.O</span> and <a href=\"https://laohu8.com/S/FRSH\">Freshworks</a> <span>FRSH.O</span> to \"hold\" from \"buy\", says application software sector remains under pressure</p><p>** Shares of WDAY, DOCU, MNDY, FRSH down between 2 and 3% premarket</p><p>** Brokerage also cuts PT on <a href=\"https://laohu8.com/S/CRM\">Salesforce</a> <span>CRM.N</span>, <a href=\"https://laohu8.com/S/ADBE\">Adobe</a> <span>ADBE.O</span>, GoDaddy <span>GDDY.N</span>, Wix.com <span>WIX.O</span> and Asana <span>ASAN.N</span></p><p>     ** As of last close, the S&amp;P 500 software and services index <span>.SPLRCIS</span> is down 20.5% in 2026</p><p>** Software stocks have been on a <span>selloff spree</span> on possible disruption from AI, broadly triggered by a new legal tool from Anthropic's Claude large language model</p><p>** However, Jefferies prefers Intuit <span>INTU.O</span>, Procore technologies <span>PCOR.N</span>, Atlassian <span>TEAM.O</span>, Salesforce <span>CRM.N</span> based on \"more durable models and internal AI adoption that underpins growth confidence\"</p><p>** Following are the PT revisions on stocks:</p><table><tbody><tr><td><p>Company Name </p></td><td><p>Previous PT</p></td><td><p>Current PT</p></td></tr><tr><td><p>Workday</p></td><td><p>$325</p></td><td><p>$150</p></td></tr><tr><td><p>DocuSign</p></td><td><p>$105</p></td><td><p>$45</p></td></tr><tr><td><p>Monday.com</p></td><td><p>$260</p></td><td><p>$80</p></td></tr><tr><td><p>Freshworks</p></td><td><p>$20</p></td><td><p>$8</p></td></tr><tr><td><p>Salesforce</p></td><td><p>$375</p></td><td><p>$250</p></td></tr><tr><td><p>Adobe</p></td><td><p>$400</p></td><td><p>$290</p></td></tr><tr><td><p>GoDaddy</p></td><td><p>$140</p></td><td><p>$100</p></td></tr><tr><td><p>Wix.com</p></td><td><p>$200</p></td><td><p>$130</p></td></tr><tr><td><p>Asana</p></td><td><p>$15</p></td><td><p>$8</p></td></tr></tbody></table><p>(Reporting by Kanishka Ajmera in Bengaluru)</p><p>((mail to: Kanishka.Ajmera@thomsonreuters.com))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1084165304.USD","symbol_name":"FIDELITY WORLD \"A\" (USD) ACC","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20260223:nL6N3ZJ0CL:1","article_id":"2613785172","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2613785172","pubTimestamp":1771843213,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"BUZZ-Jefferies downgrades software stocks amid AI disruption fears** Jefferies downgrades rating on Workday WDAY.O, DocuSign DOCU.O, Monday.com MNDY.O and Freshworks FRSH.O to \"hold\" from \"buy\", says application software sector remains under pressure** Shares of WDAY, DOCU, MNDY, FRSH down between 2 and 3% premarket** Brokerage also cuts PT on Salesforce CRM.N, Adobe ADBE.O, GoDaddy GDDY.N, Wix.com WIX.O and Asana ASAN.N     ** As of last close, the S&P 500 software and services index .SPLRCIS is down 20.5% in 2026** Software stocks have been on a selloff spree on possible disruption from AI, broadly triggered by a new legal tool from Anthropic's Claude large language model** However, Jefferies prefers Intuit INTU.O, Procore technologies PCOR.N, Atlassian TEAM.O, Salesforce CRM.N based on \"more durable models and internal AI adoption that underpins growth confidence\"** Following are the PT revisions on stocks:Company Name Previous PTCurrent PTWorkday$325$150DocuSign$105$45Monday.com$26","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1084165304.USD":"FIDELITY WORLD \"A\" (USD) ACC","LU2491049909.HKD":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (HKD) ACC","LU0889566641.SGD":"FTSF - Templeton Shariah Global Equity A Acc SGD","BK4543":"AI","LU1989764748.USD":"东方汇理环球颠覆性机遇A2 Acc","FRSH":"Freshworks","LU1121112475.USD":"NINETY ONE GSF GLOBAL FRANCHISE \"A\" (USDHDG) ACC","WDAY":"Workday","GDDY":"Godaddy Inc.","ADBG":"2倍做多ADBE ETF- Leverage Shares","LU2065171402.SGD":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) INC","CRMG":"2倍做多CRM ETF- Leverage Shares","LU1267930490.SGD":"TEMPLETON GLOBAL EQUITY INCOME \"AS\" (SGD) INC A","BK4534":"瑞士信贷持仓","LU2361044949.HKD":"WELLINGTON US QUALITY GROWTH \"A\" (HKD) ACC","LU0069063385.USD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (USD) ACC","LU0738911758.USD":"Blackrock Global Equity Income A6 USD","ADBE":"Adobe","WIX":"Wix.Com Ltd","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0057025933.USD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (USD) ACC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU1235294995.USD":"FIDELITY GLOBAL TECHNOLOGY \"A\" (USDHDG) ACC","LU0689626769.HKD":"AB SICAV I - SUSTAINABLE US THEMATIC PORTFOLIO \"A\" (HKD) ACC","DOCU":"Docusign","LU0345774391.USD":"NINETY ONE GSF AMERICAN FRANCHISE \"A\" (USD) ACC","SGXZ51526630.SGD":"大华环球创新基金A Acc SGD","LU2089284900.SGD":"Allianz Global Sustainability Cl AM Dis H2-SGD","PCOR":"Procore Technologies","IE00BQXX3F31.USD":"GUINNESS GLOBAL INNOVATORS \"C\" (USD) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","MNDY":"Monday.com Ltd.","TEAM":"Atlassian Corporation PLC","LU1043141123.HKD":"NINETY ONE GSF GLOBAL FRANCHISE \"A\" (HKD) INC 2","LU1989773731.SGD":"CPR Invest - Education A2 Acc SGD-H","LU0823434740.USD":"BNP PARIBAS US GROWTH \"C\" (USD) INC","LU0354030511.USD":"ALLSPRING  U.S. LARGE CAP GROWTH \"I\" (USD) ACC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU0251142724.SGD":"Fidelity America A-SGD","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","CRM":"赛富时","BK4598":"佩洛西持仓","LU0124676726.USD":"AB SICAV I - SUSTAINABLE US THEMATIC PORTFOLIO \"A\" (USD) ACC","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","ASAN":"阿莎娜","LU1496350502.SGD":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC"},"translate_title":"BUZZ-Jefferies因担心人工智能颠覆而下调软件股评级","themeId":"dee96a3260513798a507b95dda33ba93","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WIX":0.9,"CRM":0.9,"DOCU":0.9,"MNDY":0.9,"WDAY":0.9,"PCOR":0.9,"CRMG":0.6,"ADBE":0.9,"GDDY":0.9,"FRSH":0.9,"TEAM":0.9,"ADBG":0.6,"ASAN":0.9},"content_text":"BUZZ-Jefferies downgrades software stocks amid AI disruption fears** Jefferies downgrades rating on Workday WDAY.O, DocuSign DOCU.O, Monday.com MNDY.O and Freshworks FRSH.O to \"hold\" from \"buy\", says application software sector remains under pressure** Shares of WDAY, DOCU, MNDY, FRSH down between 2 and 3% premarket** Brokerage also cuts PT on Salesforce CRM.N, Adobe ADBE.O, GoDaddy GDDY.N, Wix.com WIX.O and Asana ASAN.N     ** As of last close, the S&P 500 software and services index .SPLRCIS is down 20.5% in 2026** Software stocks have been on a selloff spree on possible disruption from AI, broadly triggered by a new legal tool from Anthropic's Claude large language model** However, Jefferies prefers Intuit INTU.O, Procore technologies PCOR.N, Atlassian TEAM.O, Salesforce CRM.N based on \"more durable models and internal AI adoption that underpins growth confidence\"** Following are the PT revisions on stocks:Company Name Previous PTCurrent PTWorkday$325$150DocuSign$105$45Monday.com$260$80Freshworks$20$8Salesforce$375$250Adobe$400$290GoDaddy$140$100Wix.com$200$130Asana$15$8(Reporting by Kanishka Ajmera in Bengaluru)((mail to: Kanishka.Ajmera@thomsonreuters.com))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2613785172","isCrawlerRequest":true}