A number of stocks jumped in the afternoon session after Snowflake's impressive earnings results provided clearer evidence that the "SaaSpocalypse" — a rolling selloff that had erased approximately $2 trillion from software market values since late 2025 on fears that AI would make subscription software obsolete — had been overstated for platforms sitting at the centre of AI workflows.
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A number of stocks jumped in the afternoon session after Snowflake's impressive earnings results provided clearer evidence that the "SaaSpocalypse" — a rolling selloff that had erased approximately $2 trillion from software market values since late 2025 on fears that AI would make subscription software obsolete — had been overstated for platforms sitting at the centre of AI workflows.
Shares of cloud security platform Zscaler (NASDAQ:ZS) jumped 4.7% in the afternoon session after Snowflake's impressive earnings results provided clearer evidence that the "SaaSpocalypse" — a rolling selloff that had erased approximately $2 trillion from software market values since late 2025 on fears that AI would make subscription software obsolete — had been overstated for platforms sitting at the centre of AI workflows.
A number of stocks jumped in the afternoon session after Snowflake's impressive earnings results provided clearer evidence that the "SaaSpocalypse" — a rolling selloff that had erased approximately $2 trillion from software market values since late 2025 on fears that AI would make subscription software obsolete — had been overstated for platforms sitting at the centre of AI workflows.
Shares of data analytics company Palantir Technologies (NASDAQ:PLTR) jumped 7.3% in the afternoon session after SaaS peer Snowflake reported impressive first quarter results.
Snowflake Inc. (NYSE:SNOW) is one of the 11 Stocks Racking Up Monstrous Gains. Snowflake saw its share prices climb by 36.48 percent on Thursday to close at $239.20 apiece, as investors cheered the strong results of its earnings performance in the first quarter of fiscal year 2027. In an updated report, the company said that […]
Shares of technology giant Microsoft (NASDAQ:MSFT) jumped 3.3% in the afternoon session after Snowflake's impressive Q1 results provided clearer evidence that the "SaaSpocalypse", a rolling selloff that had erased approximately $2 trillion from software market values since late 2025 on fears that AI would make subscription software obsolete, had been overstated for platforms sitting at the centre of AI workflows.
Shares of cybersecurity platform provider CrowdStrike (NASDAQ:CRWD) jumped 4.2% in the afternoon session after Snowflake's impressive Q1 results provided clearer evidence that the "SaaSpocalypse", a rolling selloff that had erased approximately $2 trillion from software market values since late 2025 on fears that AI would make subscription software obsolete, had been overstated for platforms sitting at the centre of AI workflows.
Shares of cloud security and performance company Cloudflare (NYSE:NET) jumped 8% in the afternoon session after cloud software peer, Snowflake reported impressive first quarter earnings.
Shares of cloud data platform provider Snowflake (NYSE:SNOW) jumped 38.8% in the afternoon session after it added more than $20 billion in market cap following its impressive Q1 earnings, warranted by what was genuinely a turning-point quarter having been written off as an AI casualty.
Shares of cloud monitoring platform Datadog (NASDAQ:DDOG) jumped 3.5% in the afternoon session after it caught a slipstream, having already surged 31% on its own May 7 earnings, as Snowflake's impressive results confirmed the thesis established in recent weeks.
Shares of collaboration software company Atlassian (NASDAQ:TEAM) jumped 4.7% in the afternoon session after SaaS peer, Snowflake reported impressive first quarter results.
Shares of database platform company MongoDB (NASDAQ:MDB) jumped 9.4% in the morning session after peer data platform company Snowflake reported strong first-quarter results, signaling an inflection point for AI-related demand.
Shares of search AI platform provider Elastic (NYSE:ESTC) jumped 7.7% in the morning session after it got a boost from Snowflake's results, with Elastic's own earnings due after market close.
Shares of enterprise workflow automation company ServiceNow (NYSE:NOW) jumped 4.6% in the morning session after Snowflake's impressive first quarter results provided a tailwind for the workflow platform.
Hotter inflation couldn’t stop the S&P 500 and Nasdaq from clocking fresh record closes on Thursday. Plus, a look at consumer spending.
Rather than being disrupted, this software star is set to profit handsomely from AI.
Snowflake just posted one of its best quarters ever. And the market took notice. The data cloud company delivered a blockbuster first quarter for fiscal 2027 on May 27, topping expectations on revenue growth, margins, and customer additions. Snowflake (SNOW) stock jumped 38% in pre-market ...
A $6 billion AWS deal and stronger forecast helped reset investor sentiment.
Wall Street's equity benchmarks extended their record advance following a report that the US and Ira
MongoDB stock jumped after the database software company reported fiscal first-quarter results that easily beat analyst forecasts.
U.S. stocks pushed to more records as companies like Dollar Tree, Snowflake and Hormel Foods kept piling up profits. The Dow Jones Industrial Average rose less than 0.1%, and the Nasdaq composite climbed 0.9%, also adding to their own records from a day earlier. The Nasdaq composite rose 242.74 points, or 0.9%, to 26,917.47.
The stock market rode a big rally in software stocks to fresh highs on Thursday despite another hot inflation report. The Nasdaq gained 0.9%. The Dow rose 25 points to post a slight gain and eke out a fresh record, too.
Software company lifted fiscal 2027 product revenue guidance as AI tools and core demand strengthened.
Who said momentum finally stalled? The Nasdaq was rallying 0.9% shortly after 2 p.m. ET while the S&P 500 was up 0.6%. The Dow was down 13 points, or pretty much flat. All three marked closing highs on Wednesday, but the S&P and Nasdaq were weighed down by a bit of a momentum reversal, where Wall Street sold recent winners and bought laggards.
Snowflake just jumped on earnings. It could bode well for the broader software sector.