Industry · Oct 2026
Application Software stocks ranked by gap to the model's fair value
Faircurve's model values 52 application software stocks. 43 of them are ranked below by the gap between the model's fair value and the last close, as of 31 Oct 2026: 10 read as Undervalued, 32 as Fairly valued and 1 as Overvalued. The median gap across the ranked names is +4.2%. The widest gaps above the price are ADBE (+42.8%), DOCU (+37.4%), ADSK (+34.1%). The widest below it are VEEV (-16.3%), MANH (-14.4%), GWRE (-13.7%).
Valuations as of . Prices are the closes of 3 Nov 2026. The gap is the model's fair value against the price: a positive gap means the fair value is above the price. It states what the model concluded, not where the price goes next.
The ranking
| Rank | Company | Last close | Model fair value | Gap | Model verdict | Quality score | Market value |
|---|---|---|---|---|---|---|---|
| 1 | ADBE Adobe Inc. | $246.14 | $351.37 | +42.8% | Undervalued | 74 | $97.4B |
| 2 | DOCU DocuSign, Inc. | $80.36 | $110.44 | +37.4% | Undervalued | 71 | $15.4B |
| 3 | ADSK Autodesk, Inc. | $252.32 | $338.38 | +34.1% | Undervalued | 79 | $52.2B |
| 4 | DT Dynatrace, Inc. | $47.03 | $61.58 | +30.9% | Undervalued | 71 | $16.7B |
| 5 | PEGA Pegasystems Inc. | $34.35 | $42.02 | +22.3% | Undervalued | 68 | $5.6B |
| 6 | DBD Diebold Nixdorf, Incorporated | $55.82 | $67.84 | +21.5% | Undervalued | 53 | $1.8B |
| 7 | ADEA Adeia Inc. | $17.86 | $21.45 | +20.1% | Undervalued | 63 | $2.4B |
| 8 | SPSC SPS Commerce, Inc. | $85.25 | $102.35 | +20.1% | Undervalued | 72 | $3.0B |
| 9 | FICO Fair Isaac Corporation | $724.38 | $854.23 | +17.9% | Undervalued | 66 | $15.4B |
| 10 | RNG RingCentral, Inc. | $78.14 | $91.89 | +17.6% | Undervalued | 43 | $6.1B |
| 11 | DFIN Donnelley Financial Solutions, Inc. | $68.14 | $77.47 | +13.7% | Fairly valued | 73 | $1.6B |
| 12 | INTU Intuit Inc. | $344.72 | $390.11 | +13.2% | Fairly valued | 61 | $91.2B |
| 13 | LZ LegalZoom.com, Inc. | $6.69 | $7.55 | +12.9% | Fairly valued | 51 | $1.2B |
| 14 | CRM Salesforce, Inc. | $222.20 | $241.00 | +8.5% | Fairly valued | 50 | $188.6B |
| 15 | ALRM Alarm.com Holdings, Inc. | $65.46 | $70.54 | +7.8% | Fairly valued | 58 | $3.2B |
| 16 | DV DoubleVerify Holdings, Inc. | $13.54 | $14.52 | +7.2% | Fairly valued | 64 | $2.1B |
| 17 | WDAY Workday, Inc. | $197.94 | $212.09 | +7.1% | Fairly valued | 69 | $47.7B |
| 18 | CXM Sprinklr, Inc. | $6.71 | $7.13 | +6.3% | Fairly valued | 62 | $1.6B |
| 19 | PAYC Paycom Software, Inc. | $262.99 | $278.72 | +6.0% | Fairly valued | 68 | $11.9B |
| 20 | BILL Bill.com Holdings, Inc. | $49.82 | $52.32 | +5.0% | Fairly valued | 31 | $4.1B |
| 21 | IDCC InterDigital, Inc. | $313.60 | $328.39 | +4.7% | Fairly valued | 66 | $8.0B |
| 22 | PTC PTC Inc. | $194.06 | $202.14 | +4.2% | Fairly valued | 62 | $21.2B |
| 23 | APPF AppFolio Inc. | $223.74 | $228.86 | +2.3% | Fairly valued | 83 | $7.6B |
| 24 | CVLT Commvault Systems, Inc. | $160.99 | $163.57 | +1.6% | Fairly valued | 85 | $6.8B |
| 25 | PLUS ePlus inc. | $89.85 | $91.13 | +1.4% | Fairly valued | 68 | $2.4B |
| 26 | DLB Dolby Laboratories, Inc. | $63.32 | $63.30 | 0.0% | Fairly valued | 64 | $5.8B |
| 27 | LYFT Lyft, Inc. | $16.67 | $16.59 | -0.5% | Fairly valued | 48 | $6.1B |
| 28 | DUOL Duolingo, Inc. | $128.00 | $126.57 | -1.1% | Fairly valued | 79 | $6.1B |
| 29 | BL BlackLine, Inc. | $33.34 | $32.38 | -2.9% | Fairly valued | 49 | $2.0B |
| 30 | TYL Tyler Technologies, Inc. | $404.24 | $391.55 | -3.1% | Fairly valued | 59 | $15.7B |
| 31 | ROP Roper Technologies, Inc. | $473.58 | $454.34 | -4.1% | Fairly valued | 41 | $46.1B |
| 32 | YOU Clear Secure, Inc. | $47.76 | $45.00 | -5.8% | Fairly valued | 79 | $4.7B |
| 33 | LIF Life360, Inc. | $45.07 | $42.45 | -5.8% | Fairly valued | 46 | $3.6B |
| 34 | SDGR Schrödinger, Inc. | $27.18 | $24.91 | -8.4% | Fairly valued | 23 | $2.0B |
| 35 | PDFS PDF Solutions, Inc. | $42.19 | $38.01 | -9.9% | Fairly valued | 61 | $1.7B |
| 36 | DDOG Datadog, Inc. | $220.52 | $196.71 | -10.8% | Fairly valued | 78 | $84.5B |
| 37 | NOW ServiceNow, Inc. | $109.16 | $97.01 | -11.1% | Fairly valued | 59 | $109.1B |
| 38 | AGYS Agilysys, Inc. | $119.87 | $106.45 | -11.2% | Fairly valued | 74 | $3.3B |
| 39 | BSY Bentley Systems, Incorporated | $42.13 | $37.39 | -11.3% | Fairly valued | 49 | $11.9B |
| 40 | SHOP Shopify Inc. | $142.57 | $125.99 | -11.6% | Fairly valued | 45 | $204.4B |
| 41 | GWRE Guidewire Software, Inc. | $161.04 | $138.90 | -13.7% | Fairly valued | 56 | $13.3B |
| 42 | MANH Manhattan Associates, Inc. | $255.14 | $218.38 | -14.4% | Fairly valued | 70 | $14.5B |
| 43 | VEEV Veeva Systems Inc. | $303.21 | $253.69 | -16.3% | Overvalued | 67 | $50.7B |
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Valued but not ranked
These 9 names are valued but not ranked, for one of four reasons: the model grades the evidence as low or has not graded it yet, the inputs are under review, the gap is wider than 60%, or the valuation is more than three weeks old. The numbers are shown for reference.
| Company | Last close | Model fair value | Gap | Why it is not ranked | Quality score | Market value |
|---|---|---|---|---|---|---|
| ADP Automatic Data Processing, Inc. | $296.01 | $287.01 | -3.0% | Low evidence grade | 75 | $116.4B |
| APP AppLovin Corporation | $245.51 | $282.67 | +15.1% | Low evidence grade | 80 | $76.8B |
| BLKB Blackbaud, Inc. | $54.21 | $69.69 | +28.6% | Low evidence grade | 55 | $2.4B |
| CDNS Cadence Design Systems, Inc. | $323.75 | $344.17 | +6.3% | Low evidence grade | 61 | $90.3B |
| MSTR Strategy Inc | $135.63 | $108.44 | -20.0% | Low evidence grade | $52.5B | |
| NATL NCR Atleos Corporation | $46.64 | $56.83 | +21.8% | Low evidence grade | 48 | $3.4B |
| PCTY Paylocity Holding Corporation | $171.12 | $176.41 | +3.1% | Low evidence grade | 74 | $8.9B |
| QTWO Q2 Holdings, Inc. | $71.23 | $86.28 | +21.1% | Low evidence grade | 78 | $4.1B |
| UBER Uber Technologies, Inc. | $66.60 | $81.85 | +22.9% | Low evidence grade | 73 | $133.3B |