Most-Read Software Notes in June 2026

Research evidence excerpt

Most-Read Software Notes in June 2026

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beginning to transition from pilot to production.

5. Industry: Thoughts From Q1/26 Off-Qtr Software Earnings (6/05/2026)

○Wrapping up the Q1 software earnings season, Q1/26 off-quarter revenue outperformance on

average decelerated slightly, moving down to a 2.2% average beat vs. 2.4% last quarter. We believe

this is in-line with historical software seasonality as fundamentals remain generally solid.

6. Industry: Software: Checks from AWS Summit NYC (6/17/2026)

○We attended the AWS Summit in NYC where we heard from vendors from across the software stack,

customers and partners. Overall, we come away from the event positive on the demand trends for

vendors well-positioned in AI infrastructure/security with favorite names being CRWD, DDOG, FFIV,

NET, and PANW.

7. Industry: Software: Thoughts from Databricks' Data + AI Summit 2026 (6/17/2026)

○In conjunction with our broader coverage of the data, AI and analytics market, we attended the

Databricks’ Data + AI Summit. We believe enterprise AI adoption is hitting an inflection point as

momentum continues to build across cloud/data/ AI modernization with customers leveraging

contextual data for an AI advantage, which could serve as a boost to companies across our data and

AI coverage including DDOG & SNOW and our cyber coverage including CRWD, NET and PANW.

8. PANW: Many avenues of success; Q3/26 review (6/03/2026)

○Palo Alto reported a strong qtr that saw organic/inorganic beats across the board, along with a FY

guidance raise for all metrics, including organic guidance by more than the beat. We also liked the

inorganic strength and early integration success given prior investor M&A concerns.

9. OCTV: A bright future; Initiate with a Sector Perform rating and $21 PT (6/01/2026)