Software stocks wrap up best month since 2001 as talk of SaaSpocalypse subsides
Summary
Software stocks posted their strongest monthly run since 2001 as fears about a SaaS slowdown eased. Strong earnings from Snowflake and Okta helped lift sentiment across the sector, with both companies pointing to demand tied to AI and security needs. Snowflake cited a large cloud and chip deal with Amazon and said customers are scaling workloads faster. Okta argued that agentic AI is increasing demand for identity security tools as businesses prepare to deploy more automated agents. The rally also extended to other software names such as Atlassian, ServiceNow, Shopify, Workday, Asana, Oracle, and Microsoft.
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Web and Content Management
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Identity and Access Management
Cybersecurity Software
SaaS
Linked Companies
Okta
$1M to $5M