2023-05-12 08:20:00 ET
Shares of cloud software favorites Zscaler (NASDAQ: ZS) , Snowflake (NYSE: SNOW) , and Datadog (NASDAQ: DDOG) were surging this week, up 29%, 10.3%, and 13.2%, respectively, through Thursday trading, according to data provided by S&P Global Market Intelligence .
It was a good week for high-growth cloud software stocks on several fronts. Zscaler made a positive pre-announcement, and a Wall Street analyst issued a note suggesting the optimization in cloud software spending might be coming to an end.
Softer-than-expected inflation readings for April also helped, as these growth stocks are highly sensitive to inflation and interest rates.
For further details see:
Why Zscaler, Snowflake, and Datadog Surged This Week