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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%.
  • MarketBeat previews the top five stocks to own by June 1st.

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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.

View The Five Stocks Here

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Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Elastic (ESTC)
3.4534 of 5 stars		$85.55-0.8%N/A155.55Moderate Buy$127.48
Samsara (IOT)
3.1036 of 5 stars		$43.31-0.3%N/A-92.15Moderate Buy$48.87
Okta (OKTA)
4.1974 of 5 stars		$119.45-1.1%N/A-341.29Moderate Buy$116.80
Microsoft (MSFT)
4.7637 of 5 stars		$438.73+0.1%0.76%35.32Moderate Buy$507.77
Oracle (ORCL)
4.6783 of 5 stars		$150.18-0.1%1.33%36.72Moderate Buy$174.42
Adobe (ADBE)
4.8038 of 5 stars		$383.28-0.2%N/A30.91Moderate Buy$502.88
Uber Technologies (UBER)
4.8885 of 5 stars		$82.60+0.4%N/A18.11Moderate Buy$92.69
Slack Technologies (WORK)N/A$45.20flatN/A-102.73N/AN/A
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