As the demand for AI/GPU chips intensifies, software stocks are attracting increased investor attention. This article highlights three software companies well-positioned to capitalize on the AI wave: Datadog, HubSpot, and ServiceNow. Each company leverages AI in unique ways to enhance their offerings and drive growth.
on AI/GPU chips go into full effect, it is more likely that software stocks will gain a greater investor spotlight. After all, software-based companies don’t rely on delicate supply chains that overarching policies may disrupt.
Datadog’s platform is all about unifying data observability so it can be “used by everyone, deployed everywhere.” Such integration includes traditional infrastructure monitoring and adds an AI-powered layer in the form of anomaly detection, proactive alerts, natural language querying, and root cause analysis.
Just like Datadog, the company counts on an easy-to-use and unified platform. Consisting of various “hubs,” from marketing and sales to content and commerce, makes pushing profitable ideas and products easier. In the latest Q3 2024 financial report, ServiceNow grew its SaaS subscription revenue by 23% year-over-year to $2.71 billion. This is consistent with quarterly yoy growths throughout 2023 and 2024.Likewise, the company keeps its subscription renewal rate high, at 98% – 99%. Over the last year, NOW stock grew by 41% to the current price of $1,023.17 per share. ServiceNow is scheduled to release its following earnings report on January 29th, with an EPS forecast of $1.77 vs the EPS of $1.
Investing SOFTWARE AI INVESTING DATADOG HUBSPOT SERVICENOW
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