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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.

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

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Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Elastic (ESTC)
3.4867 of 5 stars		$91.55-3.7%N/A166.46Moderate Buy$131.39
Samsara (IOT)
3.6982 of 5 stars		$38.87-4.4%N/A-82.71Moderate Buy$49.60
Okta (OKTA)
4.2153 of 5 stars		$107.99-2.9%N/A-308.54Moderate Buy$115.29
Microsoft (MSFT)
4.9396 of 5 stars		$378.80-3.0%0.88%30.50Moderate Buy$510.59
Oracle (ORCL)
4.9389 of 5 stars		$140.75-3.5%1.42%34.41Moderate Buy$179.20
Adobe (ADBE)
4.8307 of 5 stars		$385.71-2.6%N/A31.11Moderate Buy$533.85
Uber Technologies (UBER)
4.8153 of 5 stars		$72.71-2.9%N/A15.94Moderate Buy$90.31
Slack Technologies (WORK)N/A$45.20flatN/A-102.73N/AN/A
Compare These Stocks  Add These Stocks to My Watchlist 

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