Infrastructure Software Faces Higher Demand, BofA Says

MT newswire2026/10/23 14:59

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10:59 AM EDT, 10/23/2026 (MT Newswires) -- Datadog (DDOG), Dynatrace (DT), and other infrastructure software companies are facing higher demand, with artificial intelligence contributing more to growth and platform usage, BofA Securities analysts said in a Friday note. Analysts said the Q3 earnings cycle will continue to show the infrastructure software subsector is more durable and a bigger AI beneficiary than at least two of the four software subsectors - applications and vertical. BofA said Datadog is the best share gainer in the subsector with the faster-growing total addressable market. Atlassian (TEAM) is its other top pick. C3.ai (AI) and UiPath (PATH) face the highest downward estimate revision risk in the subsector due to a highly competitive enterprise AI end-market, analysts said. BofA raised Datadog's price target to $335 from $305; Dynatrace to $78 from $65; Elastic (ESTC) to $114 from $108; Atlassian to $252 from $210. It lowered the price target on UiPath to $12 from $15. Price: 267.28, Change: +9.53, Percent Change: +3.70

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The University of Michigan's final Consumer Sentiment Index for October stood at 48, reaching a five-month low, but exceeded market expectations. Consumers' one-year inflation expectation rose to 4.7%, and their long-term inflation expectation for the next five to ten years rose to 3.5%, both the highest since May this year and marking a second consecutive month of increase. While the S&P 500 Total Return Index has climbed to record highs, U.S. consumer sentiment remains near historic lows, with the divergence between the two reaching a record extreme.

华尔街见闻•2026/10/23 15:48