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 (NYSE:SAP) 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 (NASDAQ:TEAM) 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. (NYSE:VEEV) 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. (NASDAQ:CRWD) 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. (NYSE:SNOW) 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.
While we acknowledge the potential of SNOW to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SNOW and that has 100x upside potential, check out our report about the cheapest AI stock.
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