Clouded Judgement 11.3.23 - No Sign of Re-Acceleration in Software
cloudedjudgement.substack.com
Every week I’ll provide updates on the latest trends in cloud software companies. Follow along to stay up to date! Earnings Season Kicks Off Without Any Sign of Re-Acceleration Q3 earnings season kicked off in earnest this week, and it’s turning out to quite the volatile earnings season. Already we’ve seen huge earnings move. ZoomInfo dropped ~20%. Paycom dropped ~40%. Bill.com dropped ~30%. Confluent dropped ~40%. Atlassian was down ~10%. Procore was down ~15%. Some of these drops rival one of the worst ever software earnings reaction of Tableau in 2016! But it wasn’t all bad. JFrog was up ~20%. Palantir was up ~20%. Fastly was up ~15%. Shopify was up ~20%. On Thursday the software index (WCLD) was up ~3%! That’s a huge move up for the index! So what’s going on??
Clouded Judgement 11.3.23 - No Sign of Re-Acceleration in Software
Clouded Judgement 11.3.23 - No Sign of…
Clouded Judgement 11.3.23 - No Sign of Re-Acceleration in Software
Every week I’ll provide updates on the latest trends in cloud software companies. Follow along to stay up to date! Earnings Season Kicks Off Without Any Sign of Re-Acceleration Q3 earnings season kicked off in earnest this week, and it’s turning out to quite the volatile earnings season. Already we’ve seen huge earnings move. ZoomInfo dropped ~20%. Paycom dropped ~40%. Bill.com dropped ~30%. Confluent dropped ~40%. Atlassian was down ~10%. Procore was down ~15%. Some of these drops rival one of the worst ever software earnings reaction of Tableau in 2016! But it wasn’t all bad. JFrog was up ~20%. Palantir was up ~20%. Fastly was up ~15%. Shopify was up ~20%. On Thursday the software index (WCLD) was up ~3%! That’s a huge move up for the index! So what’s going on??