Citrini’s New Short List: 90 Subscription Stocks at Risk From The ‘Agentic Cancellation Wave’
Citrini's short list targets 90 subscription stocks, from Planet Fitness to Comcast and Sirius XM, as AI agents cancel and renegotiate.
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Wolfe Research Downgrades Monday.Com to Peer Perform
Wolfe Research analyst Alex Zukin downgrades Monday.Com (NASDAQ:MNDY) from Outperform to Peer Perform.
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Shares of software companies are trading higher after AI executives from firms including Anthropic, OpenAI and SpaceXAI signaled that the industry's growth may have to be slowed, which may limit threats to software vendors.
Why Monday.com Stock Popped in August
Monday.com stock rose 16% in August despite initial sell-off following its Q2 earnings beat. The stock recovered late in the month after Salesforce's strong earnings report boosted investor sentiment toward legacy software and CRM companies. The author views Monday.com as undervalued with a forward P/E under 14.
Shares of software companies are trading lower after August's hotter-than-expected payrolls report increased expectations that the Federal Reserve could raise interest rates at its next meeting. A stronger U.S. dollar and higher rate expectations are weighing on growth stocks by reducing investor appetite for higher-risk assets.