The steep sell-off in software stocks hurt three companies most notably. While Qualys (QLYS) and Fastly (FSTLY) fell significantly in percentage terms, the panic selling did not exclude companies with a large market capitalization.
Palantir (PLTR) lost its rebound momentum that sent shares to over $160 by late March. The stock fell by over 13%, yet the P/E multiple is still at around 200 times. Investors potentially “sold on the news” after Palantir finished its key role in the bombing of Iran. Firms like UBS and Wedbush Securities issued bullish commentary on PLTR stock.
Investors may look at MongoDB (MDB), Tesla (TSLA), Salesforce (CRM), and Microsoft (MSFT). They are trading weakly on stock markets, creating an entry point for new investors.
Fortinet (FTNT) is at risk of breaking down below its $71 - $85 range. Identity and endpoint security solutions might face increasing competition from AI agents. If a cheaper, more effective AI agent offers more cybersecurity protection, look out below.
Oracle (ORCL) traded at over $170 last month, back to its 50-day simple moving average. After losing 5.6% last week, selling momentum might accelerate further. The forward P/E is 18.5 times. Still, the firm released AI agentic applications for the finance, supply chain, customer relationship, and human resource markets.
Investors bearish on AI hardware stocks might consider ORCL stock. Once liquidity moves back from hardware to software, Oracle stock might end its downtrend.
