Market snapshot
Data through February 20, 2026
AI-Native Infrastructure
−1%
Domain Defenders
−20%
Platform Transformers
−44%
In Transition
−52%
| Company | Ticker | One year return |
|---|---|---|
|
AI-Native InfrastructureInfrastructure and APIs exposed to AI workloads
Average −1%
|
||
| Datadog | DDOG | −8% |
| Snowflake | SNOW | −7% |
| MongoDB | MDB | +19% |
| Confluent | CFLT | −6% |
| Twilio | TWLO | −4% |
|
Domain DefendersSecurity, compliance, and vertical expertise
Average −20%
|
||
| CrowdStrike | CRWD | −11% |
| Palo Alto Networks | PANW | −25% |
| Zscaler | ZS | −23% |
| Veeva | VEEV | −21% |
| Okta | OKTA | −22% |
|
Platform TransformersLarge installed bases adapting products and revenue models
Average −44%
|
||
| Salesforce | CRM | −42% |
| ServiceNow | NOW | −46% |
| Workday | WDAY | −47% |
| Intuit | INTU | −34% |
| HubSpot | HUBS | −69% |
| Adobe | ADBE | −43% |
| Atlassian | TEAM | −75% |
| Zoom | ZM | +8% |
|
In TransitionCoordination products facing heavier workflow automation pressure
Average −52%
|
||
| Asana | ASAN | −67% |
| monday.com | MNDY | −76% |
| DocuSign | DOCU | −48% |
| BILL | BILL | −18% |