CFLT - Credit Suisse jumps into software with coverage of 22 companies

Credit Suisse dove headfirst into the software sector, Tuesday, as analyst Phil Winslow initiated or assumed coverage on 22 software companies, including giants such as Microsoft (NASDAQ:MSFT), Oracle (NYSE:ORCL) and Adobe (NASDAQ:ADBE). Winslow started his new coverage by referring to Marc Andreessen's 2011 statement in which he said, "Software is eating the world," by saying that now, "Software is life." "Much of the debate about the software industry, publicly traded or privately held, is still around valuation, as opposed to the long-duration valuation creation potential of the best companies," Winslow said. Winslow started his coverage of Oracle (ORCL), ServiceNow (NYSE:NOW), Workday (DAY), Splunk (ORCL), VMware (NYSE:VMW), Zscaler (NASDAQ:ZS), Snowflake (NYSE:SNOW), Autodesk (NASDAQ:ADSK), UiPath (NYSE:PATH), MongoDB (NASDAQ:MDB) and Confluent (NASDAQ:CFLT) with outperform ratings, and also assumed coverage of Microsoft (MSFT), Salesforce (NYSE:CRM) and Palo Alto Networks (NASDAQ:PANW) and their outperform ratings. Winslow set neutral ratings on Adobe (ADBE), Workday (NASDAQ:WDAY), Zendesk

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Credit Suisse jumps into software with coverage of 22 companies