Models become useful when they show up inside the apps people already use. R2A tracks 23 names across cybersecurity, productivity SaaS, data platforms, and AI-native software — the layer where the AI economy meets the customer.
The cleanest fear in software a year ago was that foundation models commoditize the apps built on top of them. That hasn't happened. The companies that owned distribution, workflow, and customer data have used AI to widen moats rather than dissolve them. Workday's HCM, ServiceNow's workflow, Crowdstrike's endpoint graph, Palo Alto's network footprint — these companies are taking the same customer relationships and embedding AI features that the standalone AI vendors can't match.
R2A's variant view: software's not dead, but it's bifurcating. The platform compounders with distribution moats (NOW, WDAY, HUBS, CRWD, PANW) are getting stronger. The pure-play AI software stories without distribution (C3.ai, BigBear) are getting harder. Cybersecurity is the safest sub-sector in the bunch — every AI agent that touches a customer system is another attack surface, and the spend on protecting them is structural. Six of the high-conviction buys here are in security.
Every name R2A tracks in AI Applications & Software. Click any column header to sort.
| Ticker | Company | Call | Conviction | Last | R2A FV | Moon |
|---|---|---|---|---|---|---|
| AXON | Axon Enterprise Public Safety Tech | Buy | ●●● High | $402.31 | $531.00 | — |
| CRWD | CrowdStrike Cybersecurity (XDR + Falcon) | Buy | ●●● High | $455.64 | $596.00 | — |
| HUBS | HubSpot CRM / Marketing SaaS | Buy | ●●● High | $239.77 | $394.00 | — |
| NOW | ServiceNow Enterprise Workflow | Buy | ●●● High | $91.13 | $96.50 | — |
| PANW | Palo Alto Networks Cyber Platform | Buy | ●●● High | $181.08 | $215.00 | — |
| TWLO | Twilio CPaaS / Engagement | Buy | ●●● High | $183.26 | $183.00 | — |
| WDAY | Workday HCM / Finance SaaS | Buy | ●●● High | $126.96 | $200.00 | — |
| ZS | Zscaler Zero Trust / SSE | Buy | ●●● High | $139.81 | $174.00 | — |
| FTNT | Fortinet Network Security / SASE | Buy | ●●● Medium | $86.29 | $110.50 | — |
| MDB | MongoDB NoSQL / Cloud DB | Buy | ●●● Medium | $263.46 | $107.00 | — |
| RBRK | Rubrik Cyber Recovery / Data Sec | Buy | ●●● Medium | $55.07 | $83.50 | — |
| SNOW | Snowflake Cloud Data Platform | Buy | ●●● Medium | $140.96 | $175.50 | — |
| TTD | The Trade Desk AdTech / DSP | Buy | ●●● Medium | $24.24 | $39.00 | — |
| ESTC | Elastic Search / Observability | Hold | ●●● Medium | $48.60 | $86.25 | — |
| GTM | ZoomInfo Sales Intelligence | Hold | ●●● Medium | $6.65 | $9.25 | — |
| MNDY | Monday.com Work Management SaaS | Hold | ●●● Medium | $72.74 | $79.75 | — |
| S | SentinelOne Endpoint / XDR Security | Hold | ●●● Medium | $14.89 | $19.45 | — |
| SOUN | SoundHound AI Voice AI | Hold | ●●● Medium | $9.56 | $15.81 | — |
| AI | C3.ai Enterprise AI Platform | Hold | ●●● Low | $9.16 | $18.70 | — |
| ASAN | Asana Work Management SaaS | Hold | ●●● Low | $6.99 | $9.23 | — |
| BBAI | BigBear.ai AI / Analytics for Federal | Hold | ●●● Low | $4.14 | $6.28 | — |
| PATH | UiPath RPA / AI Automation | Hold | ●●● Low | $10.68 | $13.00 | — |
| CFLT | Confluent Streaming Data / Kafka | Watch | — | $30.99 | $34.00 | — |