Crowdstrike Holdings IncCrowdStrike reported better-than-expected Q2 results, driving its stock up 18%.
Enterprise software and cybersecurity stocks rallied sharply on Thursday, driven by strong earnings and a shift in the AI narrative. The iShares Expanded Tech-Software Sector ETF (IGV) surged over 6%, on track for its largest single-day gain since April 9, 2025, when it jumped 11.7%. The rally began after Salesforce and CrowdStrike reported better-than-expected second-quarter results, with Salesforce CEO Marc Benioff declaring, "This nonsense of this SaaSpocalypse, I think it's time for it to stop." ServiceNow surged 9%, Workday rose nearly 4%, and Adobe and Autodesk each climbed 6%. Cybersecurity names led the gains, with CrowdStrike up 18%, Okta rocketing over 25%, and SailPoint surging nearly 14%. Palantir increased 4% as its Maven Smart System is on track to generate at least $1 billion in annual recurring revenue, while UiPath climbed nearly 9% ahead of its earnings report.
Crowdstrike Holdings IncCrowdStrike reported better-than-expected Q2 results, driving its stock up 18%.
Okta IncOkta rocketed over 25% as cybersecurity names led gains in the sector rally.
SailPoint, Inc. Common StockCybersecurity rally led by strong earnings and AI narrative shift, with SailPoint surging nearly 14%.
Netskope, Inc. Class A Common Stock
Palo Alto Networks Inc
Qualys Inc
Rapid7 Inc
SentinelOne Inc
Tenable Holdings Inc
Zscaler Inc
Salesforce.com IncSalesforce reported better-than-expected Q2 results and CEO declared end of SaaSpocalypse, boosting sector sentiment.
ServiceNow IncServiceNow surged 9% as part of sector rally driven by strong earnings and AI narrative shift.
Palantir Technologies Inc.Maven Smart System on track to generate at least $1 billion in annual recurring revenue.
Uipath IncUiPath climbed nearly 9% ahead of its earnings report, benefiting from sector-wide rally.
Adobe Systems Incorporated
Appian Corp
Jfrog Ltd
Samsara Inc
Workday IncWorkday rose nearly 4% as part of enterprise software rally driven by strong earnings and AI narrative shift.
Autodesk Inc
Monday.Com Ltd
Cloudflare Inc