In this article, we take a look at the 10 Best SaaS Stocks to Buy According to Reddit.
In a blog post on June 18, market intelligence and advisory company IDC highlighted that enterprise buyers now expect their software vendors to supply agents and serve as the trusted source of data and context for custom-built and third-party agents. It noted that this is a natural next progression for SaaS vendors and represents an attractive market opportunity.
“The AI-pivot requires SaaS vendors to rethink the workflow from the ground up, which touches the full stack: foundation models, an embedding layer, a vector database, retrieval-augmented generation, an orchestration layer, guardrails, monitoring, and version management,” IDC said.
It emphasized that SaaS vendors also need to give buyers an agent toolkit of their own, so that the low-code and no-code configuration buyers increasingly demand happens inside the vendor’s governed environment rather than outside it.
“SaaS is not dead, and the incumbents are not doomed. But the asset that justifies a vendor’s existence is shifting from the screen the user looks at to the agents the vendor supplies and the governed data those and other agents rely on. Your customers already expect you to be their agent supplier. The only question is whether you are ahead of that shift or reacting to it,” IDC said.
Data from IDC’s April 2026 Future Enterprise Resiliency and Spending survey showed that 74% of organization respondents had already deployed at least one agent, while 15% were piloting. In contrast, only 1% reported no use of agents and had no plans to do so.
IDC noted that the same respondents expect the number of agent types in production to roughly triple, from 24 in March 2026 to 62 by 2027.
Considering these insights, let’s take a look at the 10 Best SaaS Stocks to Buy According to Reddit.
Our Methodology
To compile this list, we carefully examined popular Reddit trading forums such as r/WallStreetBets, r/stocks, r/ValueInvesting, and r/trading, where everyday investors discuss and exchange investment ideas. From there, we picked companies that have recently reported noteworthy developments likely to impact investor sentiment. We then ranked the stocks by the number of hedge funds holding positions in them, based on Q1 2026 filings from Insider Monkey’s database.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Insider Monkey’s quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 599.2% since May 2014, beating its benchmark by 372 percentage points (see more details here).
Note: All pricing data is as of market close on June 30, 2026.
10. SAP SE (NYSE:SAP)
Number of Hedge Fund Holders: 33
SAP SE (NYSE:SAP) is one of the 10 Best SaaS Stocks to Buy According to Reddit. On July 1, Investing.com reported that Jefferies named SAP as one of its top European software stock picks, identifying the firm as the most aggressive company in its coverage in shifting toward an “AI-first” strategy.
Jefferies highlighted the company’s efforts in rolling out new tools and providing customers with incentives such as free agents to drive adoption. However, the brokerage cautioned that the implementation of these incentives results in delayed revenue recognition, causing the benefits of the transformation to become more apparent next year rather than this year.
On June 30, SAP announced that it has signed a new multi-year agreement with Nokia aimed at accelerating Nokia’s enterprise transformation through the RISE with SAP methodology, using its SAP S/4HANA software environment hosted on Microsoft Azure.
Under the agreement, SAP will operate and manage the SAP S/4HANA software environment in the cloud, which allows Nokia to shift focus from infrastructure management to business outcomes. SAP said the approach supports process standardization, operational simplification, and ongoing innovation, rather than a one-time system migration.
SAP SE is engaged in enterprise applications and business AI. The company offers organizations solutions that unite business-critical operations spanning finance, procurement, HR, supply chain, and customer experience.
9. Atlassian Corporation (NASDAQ:TEAM)
Number of Hedge Fund Holders:44
Atlassian Corporation (NASDAQ:TEAM) is one of the 10 Best SaaS Stocks to Buy According to Reddit. On July 1, Citizens analyst Patrick Walravens maintained a Market Perform rating on Atlassian following results of a customer survey, according to a report by Investing.com.
The survey had a total of 12 respondent companies that were asked about their use of Atlassian products. Of the 18 data points collected, the survey yielded 7 positive and 11 negative data points.
Survey results showed that Confluence, Loom, and Rovo are among the stronger products within the company’s offerings, while Jira appears to be the weak link in Atlassian’s product lineup.
Earlier on June 29, Bernstein SocGen Group reiterated its $295 price target on Atlassian while maintaining its Outperform rating on the stock, according to a report by Investing.com. The analyst noted that the company is likely to face a revenue growth headwind as it enters the upcoming fiscal year due to data center accounting dynamics.
Bernstein noted that concerns about the company’s next revenue stream are seen to be addressed by new tooling to help product teams measure return on investment and use tokens more efficiently. As the company continues to deliver healthy cloud revenue growth and execution, the analyst emphasized that investors appear more confident about artificial intelligence-driven disruption.
Meanwhile, on June 25, BMO Capital reduced its price target on Atlassian to $95 from $105 while keeping an Outperform rating on the shares, according to a report by TheFly. The analyst made the adjustment following a reduction in its FY27 data center revenue estimates from negative 12% growth to negative 22%.
Atlassian Corporation offers solutions in software development, work management, and enterprise service management software. The company’s products enable enterprises to connect their business and technology teams with an AI-powered system of work that unlocks productivity at scale.
8. Veeva Systems Inc. (NYSE:VEEV)
Number of Hedge Fund Holders: 62
Veeva Systems Inc. (NYSE:VEEV) is one of the 10 Best SaaS Stocks to Buy According to Reddit. According to a June 29 report by Investing.com, Stifel reiterated its $230 price target and maintained a Buy rating on the stock following the company’s acquisition of Copli.
Earlier on June 23, Veeva announced the acquisition of the agentic medical, legal, and regulatory (MLR) solutions firm, rebranding it as Veeva Falcon MLR. It highlighted that the agentic MLR solution accelerates content review with the potential to eliminate 70% or more of manual MLR labor within five years.
Targeting marketing teams, MLR groups, and agencies, the company said Veeva Falcon MLR executes rigorous reviews of promotional and medical materials, conducting compliance checks against approved labels and local regulations to minimize manual effort and free reviewers for higher-value work.
In other news, Veeva launched on June 25 a new environmental, health, and safety (EHS) application in the Veeva Quality Cloud called Veeva EHS. The new application allows manufacturing and testing sites to proactively identify, manage, and mitigate operational and environmental risk as well as ensure global compliance readiness.
Veeva Systems Inc. delivers the industry cloud for life sciences with software, AI, data, and consulting.
7. CrowdStrike Holdings Inc. (NASDAQ:CRWD)
Number of Hedge Fund Holders: 79
CrowdStrike Holdings Inc. (NASDAQ:CRWD) is one of the 10 Best SaaS Stocks to Buy According to Reddit. On June 29, Arete analyst Ellie Kearney downgraded its rating on CrowdStrike to Neutral from Buy, setting a $730 price target on the stock, according to a report by TheFly.
Based on 54 analyst ratings compiled by CNN, 76% assigned a Buy rating on the stock while 22% marked it Hold. The stock has a median price target of $750, 1.72% lower than the current price of $763.14.
Earlier, on June 28, Wells Fargo analyst Michael Turrin assigned a Buy rating to CrowdStrike and raised its price target to $725 from $500, noting that it is outperforming its year-to-date target, according to a report by TipRanks.
Citing his industry checks, the analyst pointed out that customers appear focused on spending on platform security and products. As a result, the analyst said such companies, including CrowdStrike, are outdoing their year-to-date targets.
In contrast, Bernstein analyst Peter Weed expressed caution on CrowdStrike, reiterating a Market Perform rating and maintaining a price target of $413. The analyst said he sees the possibility of the company’s total annual recurring revenue (ARR) coming in less than 25% over the next few quarters and then worsen afterward, citing that certain operational setbacks could hinder the company’s growth, even if demand for its products remains strong.
In its Q1 fiscal 2027, which ended on April 30, CrowdStrike posted a 24% growth in total ARR to $5.51 billion.
CrowdStrike Holdings Inc. is a global cybersecurity leader offering an advanced cloud-native platform for protecting critical areas of enterprise risk – endpoints and cloud workloads, identity, and data.
6. Snowflake Inc. (NYSE:SNOW)
Number of Hedge Fund Holders: 80
Snowflake Inc. (NYSE:SNOW) is one of the 10 Best SaaS Stocks to Buy According to Reddit. On July 1, BofA Securities named Snowflake as one of its Top U.S. stock ideas for the third quarter of 2026, according to a report by Investing.com.
BofA expressed optimism that the accelerated adoption of Snowflake’s AI products and data cloud platform will continue driving revenue growth as enterprises increase AI spending.
Out of 52 analyst ratings compiled by CNN, 87% assigned a Buy rating to Snowflake, while 12% assigned a Hold rating. The stock has an average price target of $300, a 17.88% upside from the current price of $254.50.
In other news, cloud software company Domo announced on June 30 that automotive retailer Ken Garff Automotive Group is using Domo with Snowflake to modernize its data architecture and prepare to build AI apps on governed data. By using the platform, Ken Garff now securely manages and analyzes over four billion records of operational data in Snowflake while delivering fast, interactive dashboards to teams across the business.
Snowflake Inc. provides cloud data warehousing software to enterprise clients. The company’s AI Data Cloud platform allows clients to build, use, and share data, applications, and AI.
5. Adobe Inc. (NASDAQ:ADBE)
Number of Hedge Fund Holders:86
Adobe Inc. (NASDAQ:ADBE) is one of the 10 Best SaaS Stocks to Buy According to Reddit. On June 29, TheFly reported that Phillip Securities downgraded its rating on Adobe to Neutral from Buy, reducing its price target to $203 from $385.
The analyst noted that despite legacy software-as-a-service (SaaS) remaining resilient due to its mission-critical nature and reliability, the company’s growth has slowed despite a head start in AI.
Photo by Jakob Owens on Unsplash
Adobe earlier reported a 13% increase in its revenue for the second quarter of its fiscal year 2026 at $6.62 billion from the $5.87 billion registered in the same period last year. The company also reported a GAAP net income during the period amounting to $1.71 billion, while non-GAAP net income registered at $2.40 billion.
Earlier this month, Adobe reported that it has entered into a definitive agreement for the acquisition of Topaz Labs, an AI company specializing in industry-leading video and image enhancement models.
Adobe said the addition of Topaz Labs will expand its video and image model offerings with state-of-the-art AI enhancement models in Adobe Firefly, Firefly Services and Creative Cloud apps, providing customers with tools to achieve exceptional quality across every format and workflow.
Adobe Inc. is a global technology firm that provides creativity and productivity-focused platforms and tools for both businesses and individuals.
4. Salesforce Inc. (NYSE:CRM)
Number of Hedge Fund Holders: 101
Salesforce Inc. (NYSE:CRM) is one of the 10 Best SaaS Stocks to Buy According to Reddit. On July 1, Guggenheim upgraded its rating on Salesforce to Buy from Neutral, setting a price target of $228.00, according to a report by Investing.com.
The analyst highlighted that the company’s current valuation of 3.7 times recurring revenue and 11 times enterprise value to next-twelve-month consensus free cash flow is an attractive entry point for investors.
In contrast, Phillip Securities downgraded Salesforce to Neutral from Buy with a reduced price target of $166 from $270, according to a report by TheFly on June 29.
Earlier on June 15, Salesforce announced that it had forged a definitive agreement for the acquisition of customer agent company Fin, formerly Intercom, for approximately $3.6 billion.
Jefferies earlier expressed optimism for the acquisition, as it will accelerate AI adoption in the company’s installed base. The analyst highlighted that 15 M&A deals signed by Salesforce since May 2025 are helping accelerate innovation, as the company looks to reinvent itself amid the AI displacement narratives.
Salesforce Inc. helps organizations become agentic enterprises by integrating humans, agents, apps, and data on a trusted, unified platform to unlock unprecedented growth and innovation.
3. Intuit Inc. (NASDAQ:INTU)
Number of Hedge Fund Holders: 103
Intuit Inc. (NASDAQ:INTU) is one of the 10 Best SaaS Stocks to Buy According to Reddit. Based on 34 analyst ratings compiled by CNN, 76% marked Intuit Buy while 21% assigned a Hold rating. The stock has an average price target of $446.50, a 71.07% upside from the current price of $261.
Earlier on June 18, Stifel downgraded its rating on Intuit to Hold from Buy while reducing its price target to $275 from $375 amid pricing strategy concerns, according to a report by Investing.com.
Stifel analyst Brad Reback highlighted the company’s shift to a more value-based pricing strategy after years of aggressive price increases, particularly at the lower end of each business segment, in a bid to address recent market share losses.
Stifel said it expects Intuit’s management to reduce near-term and medium-term growth targets for both TurboTax and QuickBooks Global Business Solutions when the company reports fourth-quarter results and holds its analyst day in September.
Meanwhile, on June 2, Goldman Sachs analyst Gabriela Borges downgraded Intuit to Sell from Neutral, reducing the price target to $276 from $519, according to a report by TheFly. The analyst emphasized that consensus estimates are likely too high for the next three years, noting that the company may have to revise its long-term growth targets downward.
In the third quarter of its fiscal year 2026, Intuit registered a 10% rise in total revenues to $8.6 billion. For its full fiscal year, the company expects revenues of $21.341 billion to $21.374 billion, growth of approximately 13% to 14%.
Intuit Inc. is a global financial technology platform. It has approximately 100 million customers worldwide using products such as TurboTax, Credit Karma, QuickBooks, Mailchimp, and Intuit Enterprise Suite.
2. ServiceNow Inc. (NYSE:NOW)
Number of Hedge Fund Holders: 108
ServiceNow Inc. (NYSE:NOW) is one of the 10 Best SaaS Stocks to Buy According to Reddit. On July 1, TheFly reported that Guggenheim upgraded its rating on ServiceNow to Buy from Neutral with a price target of $125.
The analyst highlighted that at its current share price, the stock offers an attractive opportunity for investors to buy a comfortably profitable firm that is likely to continue to grow organically in the double digits for the foreseeable future.
On the same day, Evercore ISI maintained its Outperform rating on ServiceNow while also keeping a price target of $150, according to a report by Investing.com. The analyst highlighted the company’s focus shift from a long-term artificial intelligence strategy to near-term execution.
Evercore ISI emphasized the need for ServiceNow to demonstrate consistent execution and clear messaging around organic versus inorganic growth to shift investor sentiment.
Earlier on June 29, ServiceNow, along with Accenture, launched an offering with two core components, particularly managed security services built on the ServiceNow AI Platform and an Accenture AI-powered solution that automates migration from legacy systems to ServiceNow.
The two companies highlighted that the offering equips organizations with essential risk management services powered by agentic AI to stay ahead of evolving threats, strengthen long-term cyber resilience, and combat the escalating scale, severity, and financial cost of cyberattacks.
ServiceNow Inc. provides an end-to-end workflow automation platform for digital businesses. The ServiceNow AI Platform integrates with any cloud, any model, and any data source to orchestrate how work flows across the enterprise.
1. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders: 282
Microsoft Corporation (NASDAQ:MSFT) is one of the 10 Best SaaS Stocks to Buy According to Reddit. On July 1, enterprise technology services company Kyndryl announced the expansion of its sovereignty solutioning through new capabilities and services with Microsoft.
Under the collaboration, Kyndryl Sovereignty Solutioning will be combined with Microsoft Sovereign Cloud capabilities to support customers in designing, building, and operating cloud architectures that align with evolving data residency and operational requirements while maintaining flexibility and innovation.
Kyndryl said the capabilities support the full spectrum of Microsoft’s sovereign cloud approach, including public cloud capabilities and private cloud solutions using Microsoft Azure Local.
On the same day, consumer health company Haleon announced a five-year collaboration with Microsoft aimed at scaling its digital, data and AI capabilities across its businesses.
Haleon said the new agreement builds on its existing use of Microsoft 365 Copilot and expands the adoption of AI-powered tools across the business. Moreover, the two companies will co-create high-impact AI use cases that deliver value across multiple critical functions, from consumer insights and innovation to supply chain and commercial execution.
Of the 62 analyst ratings compiled by CNN, 95% rated Microsoft Buy, while 5% rated it Hold. The stock has an average price target of $550, a 47.45% upside from the current price of $373.02.
Microsoft Corporation is a technology company that creates platforms and tools powered by AI to deliver innovative solutions that meet the evolving needs of customers.
READ NEXT: 10 Best Energy Stocks Capitalizing on the Data Center Boom and 10 Best AI Chip Stocks to Buy for the Long Term.
