Aug. 26 at 7:23 PM
Canaccord Genuity turns more positive on software makers this quarter, citing stable demand and higher AI-driven spending.
Recent Q2 reports from ALRM,CRWD, ESTC, MDB, OKTA, S, and SNOW showed strength into July. OKTA was upgraded to Buy with a
$120 target, as identity security needs amid AI growth offer market share opportunities.
In infrastructure, MDB and SNOW should benefit most from AI-native demand, ESTC bookings may improve, and ALRM could also gain.
On security, PANW’s strong next-gen revenue is a positive, but CRWD and other top security names are largely priced in, making infrastructure stocks more attractive.
$OKTA $ALRM,
$CRWD,
$ESTC,
$MDB