Many enterprise software stocks are adding to their big 2020 gains on Thursday, as investors take heart in a batch of strong earnings reports that were posted on Wednesday afternoon.
Zscaler (ZS) – Get Report is up 24.3%, Okta (OKTA) – Get Report is up 6.9%, Snowflake (SNOW) – Get Report is up 16%, Elastic (ESTC) – Get Report is up 14.2% and CrowdStrike (CRWD) – Get Report is up 15.1% after each company comfortably beat its October quarter estimates and (generally speaking) issued strong guidance. And a number of other software names appear to be catching sympathy bids.
Palantir Technologies (PLTR) – Get Report, which tumbled yesterday on a Morgan Stanley downgrade, is up 8.8%. Smartsheet (SMAR) – Get Report is up 6.8%, Datadog (DDOG) – Get Report is up 4.8%, Unity