Investors stay cautious on software sector, Scotiabank says

Mongodb

08/10/2024 13:25

** Brokerage Scotiabank says 2024 has been disappointing for
the software sector, with investors unwilling to make bold long
or short bets 
    ** Wall Street's 2025 ests look too high, so investors are
bracing for downward revisions - brokerage 
    ** Investors following CrowdStrike's  CRWD.O  recent analyst
day feel the company is managing the fallout from the July
outage incident well - brokerage
    ** Competitive environment is favoring software
observability platform Dynatrace  DT.N , with rivals Datadog's
 DDOG.O  pricing as high and New Relic is being considered less
often - brokerage
    **  Brokerage recommends investors take a wait-and-see
approach on software firm MongoDB  MDB.O  as recovery in demand
is unlikely in 2024
        ** Scotiabank says data cloud company Snowflake  SNOW.N 
faces less severe challenges than current investor sentiment
suggests
  
    ** Cybersecurity firm Zscaler  ZS.O  competitively retains
its leadership position, its profitability could increase
further 
    ** Palo Alto Networks  PANW.O  will benefit from its
consolidation efforts, standardizing security operations on a
single platform 
    ** Brokerage looks for data whether cybersecurity firm
SentinelOne  S.N  can capitalize on the CrowdStrike outage 

 (Reporting by Jaspreet Singh in Bengaluru)
 ((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))