Lots of movement today, so thought I’d update the charts / tables for the days close. Today felt like a double whammy from the more hawkish Fed + market saying forward estimates need to come down more. Atlassian seemed to be the big domino on the “numbers need to comes down more” train. We hadn’t seen much macro impact to them yet, but their weak guide, plus acknowledgement of macro headwinds spooked the market. This week Datadog and Confluent seemed to be the bright spots, but they are seeing macro effects as well (just not as pronounced as the rest of the software market). Are we entering the capitulation phase? Hard to say. There’s definitely a reality where higher rate environment + estimate revisions warrant multiples we’re seeing today.
Awesome info, thanks for sharing. Really enjoyed the bucket/tier breakdown.
I guess this was before yesterdays bloodbath. Or else I’d think Twilio and Team would be the top 2 in weekly share price change?
Hi Jamin, would be great if ALKT was added to your comprehensive comps list :)