In 2026, software stocks such as Salesforce (CRM), Atlassian (TEAM), and Workday (WDAY) faced significant downturns due to negative sentiment regarding AI-related growth prospects. However, all three companies have shown remarkable recovery over the past month, indicating a potential shift in investor sentiment.
Salesforce reported record results, with its Agentforce and Data 360 annual recurring revenue soaring by 200% year-over-year to nearly $3.4 billion. The platform completed 3.8 billion tasks via AI agents, an increase of 111% sequentially. Similarly, Workday’s subscription backlog grew by 11% year-over-year to $27.3 billion, while the number of customers using its AI agents more than doubled. Atlassian reported a cloud revenue of approximately $1 billion, a 26% year-over-year increase, and surpassed 3.5 million monthly active users of its AI capabilities, reflecting a 50% growth rate.
Despite the strong performances, analysts have mixed ratings. Salesforce holds a favorable Zacks Rank #2 (Buy), whereas Atlassian is rated Zacks Rank #4 (Sell). Overall, while these stocks remain down year-to-date, their recent improvements warrant close monitoring.
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