Some recent developments suggest the beleaguered software group of stocks may be coming back into favor, as I noted a couple weeks ago following positive responses to both Snowflake and Elastic.
The interest in software is showing up again this week, with initiations and upgrades and downgrades on a raft of names.
First, the bad news: Some software stocks may be even less desirable in a rebounding software market.
Wednesday, J.P. Morgan's Pinjalim Bora rejiggered ratings on three software stocks: C3.ai, which just reported positively on Monday; PagerDuty, which sold off last month on its rather mixed earnings report; and Sprinklr, which also had a downbeat report last week.