High-Flying SaaS Startups' Surge Won't Change the Valuations in Ventureland
MAY 21, 2023
The top publicly traded software companies have surged in the last few weeks. MongoDB (MDB), Snowflake (SNOW), DataDog (DDOG), Cloudflare (NET), & ServiceNow (NOW) have watched their forward multiples surge by 42% to 112% since the beginning of the year. The bond market has priced in a roughly 1% to 1.25% cut in the next 24 months. When interest rates fall, high-growth software surges.
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