Software Stocks Upgraded: Snowflake, Okta, and More

Software stocks are experiencing a positive shift. Analysts are raising targets for Snowflake, Okta, and others, indicating strong growth potential. Upgrades signal a bullish outlook for stocks, suggesting a good time to invest in this sector.

Date: 22-03-2025

AI Rating: 7

Software Stocks Gain Favor with Analysts

The report highlights a favorable transition for several leading software stocks, notably Snowflake, Okta, CrowdStrike, Workday, and Zscaler. Analysts are increasing their price targets based on strong performance and expected growth, which could provide a bullish sentiment in the market.

Earnings Performance and Guidance Upgrades

Snowflake stands out, being labeled the most upgraded software stock. Analysts increased the target price to $205, reflecting a potential 30% gain. This upgrade is backed by top and bottom-line outperformance, sustained growth, and solid guidance.

Okta also received positive revisions, moving its price target to $115, with a significant upside from its recent earnings report. Analysts anticipate a potential near 20% rise based on favorable conditions in AI development and cybersecurity demands.

CrowdStrike's report reflects contrasting guidance, as it projects slower growth amidst strong market circumstances. However, analysts maintain a cautious outlook, viewing guidance as conservative, which could lead to upward revisions in estimates.

Workday illustrates solid top and bottom-line performance with better-than-expected guidance, suggesting a firming analyst sentiment and a rising price target, hinting at strong future performance.

Zscaler's forecast also remains optimistic, with analysts anticipating a 15-20% price upside, supported by recent upgrades that point to healthy business conditions and growth opportunities.

Stocks: SNOW OKTA CRWD WDAY ZS