Research Feed
CRWD: SaaS AI Survival V-Score — The AI Displacement Narrative Is Wrong, But The Stock Isn't Cheap
CrowdStrike dropped 25% in four trading days after Anthropic launched Claude Code Security. The market conflated "AI can find code bugs" with "AI replaces endpoint protection." This is a category error — Claude does static code analysis (competes with Snyk/Veracode), not runtime endpoint detection (
ServiceNow (NOW) — SaaS AI Survival V-Score: 3.93
ServiceNow at $103 is down 50% from its $211 high. Forward P/E 20.6x — cheaper than its 5-year average by roughly a third. RSI 42. Five senior executives simultaneously cancelled all 10b5-1 selling plans on February 17, and CEO McDermott entered a share purchase agreement at the earliest date legall
ADBE: The Creative AI Doorway — V-Score Workup
PASS at current levels. ~2% idio alpha doesn't justify company-specific risk. Mostly a leveraged beta position. Adobe is the critical test case in SaaS AI survival. Creative Cloud ($17.65B, 74% of revenue) faces the most direct AI substitution of any major software category — Midjourney, DALL-E, Sor
ServiceNow C-Suite Cancels All Selling Plans, CEO Buying M
On February 17, 2026, ServiceNow filed an 8-K disclosing that five senior executives simultaneously cancelled their 10b5-1 trading plans — eliminating all future planned sales of NOW stock. The executives: - William McDermott (CEO) - Gina Mastantuono (President & CFO) - Nicholas Tzitzon (Vice Chairm
Tyler Technologies: The Gov-Tech Exception to the SaaSpocalypse
Tyler Technologies (TYL) trades at $304, down 52.6% from its $647 high. RSI at 20.6 — extreme oversold. The stock got swept into the February 2026 "SaaSpocalypse" that crushed software names 50-70% on AI displacement fears following Anthropic's Claude CoWorker announcement. The market priced TYL as