Themes / Group
Active · newly observed relationshipLatest completed snapshot · Aug 24 · 16:55 ET

MARKET-DISCOVERED GROUP

Software - Application

THE TRADER READShared activity without a clean directional read

Price direction is split across 24 measured members. Capital-flow confirmation is unavailable.

Price breadth3 up · 21 downRelative median unavailable
Capital-flow alignmentUnavailablePrice breadth is not yet confirmed by flow
Activity nowBuilding_pressureActivity score 37/100
Evidence depth0 support daysLow sample—context, not a validated playbook
EVIDENCE CLOCK

What happened, in timestamp order

0 timed events
TIMING READA causal timing read is unavailable because no material member price onset could be timestamped.

No session event has enough timestamp precision to place on the clock.

2 earlier filing context receipts

TUE, APR 28QTWO filing documented shared operating contextproduct pipeline / R&D affecting expense · date precision only

WED, AUG 5AVPT filing documented shared operating contextproduct pipeline / R&D affecting expense · date precision only

Headline times and retained activity confirmations are point-in-time evidence. Price order is inferred from aligned 5-minute bars. Filing evidence has date precision only and is context, not an intraday catalyst claim.

01 · WHAT IS HAPPENING

The move, the flow and who is driving it

Price breadth, unusual activity and signed capital flow are separate observations
Price sequence unavailableA timestamped price sequence is unavailable.
RELATIVE CO-MOVEMENT

How the members are behaving together

Session-normalized

Observed intraday paths are not available for this group yet.

02 · WHY IT MATTERS

Why now and where the move could travel

Context and lead/lag links are evidence, not proof of causation or a forecast
WHY NOW

Verified recent context

0 items

No verified recent catalyst is attached to this move. The relationship may be market-led rather than news-led.

WHY THIS GROUP EXISTS

Shared filing context

34/36 members covered

Moderate filing support: the strongest shared 10-Q/K outlook is operating setup (near-term outlook) across BL, BOX, CRM, DBX, DOCU, FRSH, GEN, GWRE, INTA, IOT, MDB, NET, NOW, PATH, PCOR, QTWO, SAIL, TEAM, TRMB, TTAN, VERX, WDAY, ZETA, ZM.

product pipeline / R&D affecting expense

“Research and Development Three Months Ended March 31, Change 2026 2025 $ (%) Research and development $ 41,880 $ 37,853 $ 4,027 10.6 % Percentage of revenues 19.3 % 20.0 % The increase in research and development was primarily attributable to a $4.4 million increase in personnel costs as a result of the growth in our research and development organization to support continued enhancements to our solutions, an $0.8 million increase in overhead costs and a $0.4 million increase in software and other discretionary expenses, partially offset by a $1.6 million decrease from higher capitalization of software development costs.”

QTWO 10-Q · 2026-04-29
restructuring affecting expense

“Lease and Other Restructuring Charges Three Months Ended March 31, Change 2026 2025 $ (%) Lease and other restructuring charges $ 188 $ 2,006 $ (1,818) (90.6) % Percentage of revenues 0.1 % 1.1 % The net decrease in lease and other restructuring charges was primarily attributable to a $1.2 million reduction in severance charges associated with restructuring or eliminating certain positions and a $0.5 million decrease related to updated assessments and ongoing expenses of previously vacated facilities.”

QTWO 10-Q · 2026-04-29
credit / rates affecting interest expense

“Interest expense consists primarily of the interest from the amortization of debt issuance costs, coupon interest attributable to our convertible notes, commitment fees and interest associated with our Revolving Credit Agreement, as well as fees and interest associated with the letter of credit issued to our landlord for the security deposit for our corporate headquarters.”

QTWO 10-Q · 2026-04-29
CONFIRMATION NETWORK

Outsiders and cross-asset links

0 outsiders confirming
CRM → UNGInverse historical lead/lag · strength -0.23
CRM → SLVPositive historical lead/lag · strength 0.20

Filing-linked outsiders test whether the move is spreading beyond the established cohort.

No high-confidence filing-linked outsiders are available for this group yet.

03 · WHO IS IN IT

Member participation

Unusual activity and daily price direction are shown separately
GWREPEGAWKNICETRMBNOWCRMDOCUBLVEEVFRSHVERXQTWOWDAYIOTNTNXMDBAVPTZETAGTLBBOXTEAMGENDBX

24/36 active3 rising · 21 falling

MemberUnusual activityToday's moveRead now
GWREGuidewire Software, Inc.
Elevated · 100/100
-1.8%
Active; unclassifiedHistorical role unavailable
PEGAPegasystems Inc.
Elevated · 61/100
-0.8%
Active; unclassifiedHistorical role unavailable
WKWorkiva Inc.
Elevated · 57/100
-0.6%
Active; unclassifiedHistorical role unavailable
NICENICE Ltd.
Elevated · 54/100
+0.1%
Active; unclassifiedHistorical role unavailable
TRMBTrimble Inc.
Elevated · 51/100
-2.0%
Active; unclassifiedHistorical role unavailable
NOWServiceNow, Inc.
Elevated · 48/100
-0.8%
Active; unclassifiedHistorical role unavailable
CRMSalesforce, Inc.
Elevated · 36/100
-1.7%
Active; unclassifiedHistorical role unavailable
DOCUDocuSign, Inc.
Elevated · 34/100
-3.2%
Active; unclassifiedHistorical role unavailable
BLBlackLine, Inc.
Elevated · 25/100
-1.1%
Active; unclassifiedHistorical role unavailable
VEEVVeeva Systems Inc.
Elevated · 22/100
-0.7%
Active; unclassifiedHistorical role unavailable
FRSHFreshworks Inc.
Elevated · 21/100
-2.6%
Active; unclassifiedHistorical role unavailable
VERXVertex, Inc.
Elevated · 21/100
-1.2%
Active; unclassifiedHistorical role unavailable
QTWOQ2 Holdings, Inc.
Most unusual · 17/100
-0.5%
Active; unclassifiedHistorical role unavailable
WDAYWorkday, Inc.
Participating · 17/100
-2.4%
Active; unclassifiedHistorical role unavailable
IOTSamsara Inc.
Participating · 15/100
-3.0%
Active; unclassifiedHistorical role unavailable
NTNXNutanix, Inc.
Participating · 15/100
-0.4%
Active; unclassifiedHistorical role unavailable
MDBMongoDB, Inc. Class A Common Stock
Participating · 15/100
+0.6%
Active; unclassifiedHistorical role unavailable
AVPTAvePoint, Inc.
Participating · 14/100
-1.4%
Active; unclassifiedHistorical role unavailable
ZETAZeta Global Holdings Corp.
Quiet · 12/100
-2.1%
Watch / laggardHistorical role unavailable
GTLBGitLab Inc.
Quiet · 12/100
-0.9%
Watch / laggardHistorical role unavailable
BOXBox, Inc.
Quiet · 11/100
-1.5%
Watch / laggardHistorical role unavailable
TEAMAtlassian Corporation
Quiet · 11/100
-2.8%
Watch / laggardHistorical role unavailable
GENGen Digital Inc.
Quiet · 9/100
+0.7%
Watch / laggardHistorical role unavailable
DBXDropbox, Inc.
Quiet · 8/100
-0.4%
Watch / laggardHistorical role unavailable
View exact member values
TICKERCompanyRole nowTodayObserved historyTrader interpretation
GWREGuidewire Software, Inc.Participating-1.8%—Price participation is not yet confirmed by per-name flow.
PEGAPegasystems Inc.Participating-0.8%—Price participation is not yet confirmed by per-name flow.
WKWorkiva Inc.Participating-0.6%—Price participation is not yet confirmed by per-name flow.
NICENICE Ltd.Participating+0.1%—Price participation is not yet confirmed by per-name flow.
TRMBTrimble Inc.Participating-2.0%—Price participation is not yet confirmed by per-name flow.
NOWServiceNow, Inc.Participating-0.8%—Price participation is not yet confirmed by per-name flow.
CRMSalesforce, Inc.Participating-1.7%—Price participation is not yet confirmed by per-name flow.
DOCUDocuSign, Inc.Participating-3.2%—Price participation is not yet confirmed by per-name flow.
BLBlackLine, Inc.Participating-1.1%—Price participation is not yet confirmed by per-name flow.
VEEVVeeva Systems Inc.Participating-0.7%—Price participation is not yet confirmed by per-name flow.
FRSHFreshworks Inc.Participating-2.6%—Price participation is not yet confirmed by per-name flow.
VERXVertex, Inc.Participating-1.2%—Price participation is not yet confirmed by per-name flow.
QTWOQ2 Holdings, Inc.Most unusual-0.5%—Most unusual activity in this snapshot; performance direction may differ.
WDAYWorkday, Inc.Participating-2.4%—Price participation is not yet confirmed by per-name flow.
IOTSamsara Inc.Participating-3.0%—Price participation is not yet confirmed by per-name flow.
NTNXNutanix, Inc.Participating-0.4%—Price participation is not yet confirmed by per-name flow.
MDBMongoDB, Inc. Class A Common StockParticipating+0.6%—Price participation is not yet confirmed by per-name flow.
AVPTAvePoint, Inc.Participating-1.4%—Price participation is not yet confirmed by per-name flow.
ZETAZeta Global Holdings Corp.Quiet / lagging-2.1%—Not participating yet; a breadth test or a genuine divergence.
GTLBGitLab Inc.Quiet / lagging-0.9%—Not participating yet; a breadth test or a genuine divergence.
BOXBox, Inc.Quiet / lagging-1.5%—Not participating yet; a breadth test or a genuine divergence.
TEAMAtlassian CorporationQuiet / lagging-2.8%—Not participating yet; a breadth test or a genuine divergence.
GENGen Digital Inc.Quiet / lagging+0.7%—Not participating yet; a breadth test or a genuine divergence.
DBXDropbox, Inc.Quiet / lagging-0.4%—Not participating yet; a breadth test or a genuine divergence.

04 · HAS THIS HAPPENED BEFORE

Identity history versus measured outcomes

Structural recurrence is not the same as a validated trading outcome
POINT-IN-TIME LIVE OUTCOMES

Live outcome ledger collecting

0/0 events completed

No completed point-in-time outcome is available yet. New live confirmations are now retained with their exact observation timestamp; statistics appear only after the corresponding candles complete.

No point-in-time live observations have completed yet.
Low structural sample

Only 0 completed episodes across 0 active sessions; treat history as context, not a validated playbook. These episode counts describe recurrence; the outcome ledger above is the only forward-performance evidence.

Structural support0 daysHow often the cohort identity was observed
Completed episodes0Separate periods of broad group activity
Active sessions0Completed session observations, not trades

Historical cohort observations are not available yet.