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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 to consider instead of Elastic.

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Should You Invest $1,000 in Elastic Right Now?

Before you consider Elastic, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Elastic wasn't on the list.

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)
3.4525 of 5 stars		$84.87-1.6%N/A154.31Moderate Buy$127.48
Samsara (IOT)
3.2484 of 5 stars		$43.00-1.0%N/A-91.49Moderate Buy$48.87
Okta (OKTA)
4.2039 of 5 stars		$119.04-1.4%N/A-340.11Moderate Buy$116.80
Microsoft (MSFT)
4.7627 of 5 stars		$438.75+0.1%0.76%35.33Moderate Buy$507.77
Oracle (ORCL)
4.7196 of 5 stars		$150.21-0.1%1.33%36.73Moderate Buy$174.42
Adobe (ADBE)
4.8025 of 5 stars		$384.58+0.2%N/A31.01Moderate Buy$502.88
Uber Technologies (UBER)
4.8678 of 5 stars		$82.69+0.5%N/A18.13Moderate Buy$92.69
Slack Technologies (WORK)N/A$45.20flatN/A-102.73N/AN/A
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