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3 Hot Software Stocks Breaking Out to New Highs

Written by MarketBeat Staff
September 13, 2023

Key Points

  • Elastic's recent outperformance was driven by rising demand for the company’s AI-powered Elasticsearch platform.
  • Samsara is up approximately 150% year-to-date and getting a second chance in a healthier tech spending environment.
  • Okta management raised its full year adjusted EPS guidance by more than 30%.
  • Five stocks we like better than Elastic.

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Should You Invest $1,000 in Elastic Right Now?

Before you consider Elastic, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Elastic wasn't on the list.

While Elastic currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

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These 7 Stocks Will Be Magnificent in 2025

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Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Elastic (ESTC)
2.5461 of 5 stars		$106.30-3.0%N/A193.27Moderate Buy$125.35
Samsara (IOT)
2.3697 of 5 stars		$52.73-3.5%N/A-112.19Hold$51.67
Okta (OKTA)
4.5221 of 5 stars		$92.75-2.6%N/A-265.00Hold$106.13
Microsoft (MSFT)
4.9702 of 5 stars		$408.25-1.9%0.81%32.87Moderate Buy$510.96
Oracle (ORCL)
4.55 of 5 stars		$167.92-4.6%0.95%41.06Moderate Buy$182.73
Adobe (ADBE)
4.9427 of 5 stars		$444.32-2.3%N/A35.83Moderate Buy$570.88
Uber Technologies (UBER)
4.9223 of 5 stars		$78.89-2.9%N/A17.30Moderate Buy$90.91
Slack Technologies (WORK)
1.1605 of 5 stars		$45.20flatN/A-102.73N/AN/A
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