US software stocks to keep rebounding, says Goldman Sachs prime brokerage note

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February 26, 2026 6:44 AM EST

Futures-options traders work on the floor at the New York Stock Exchange's NYSE American (AMEX) in New York City, U.S., February 20, 2026. REUTERS/Brendan McDermid

By Nell Mackenzie

LONDON, ‌Feb 26 (Reuters) - ​Goldman ​Sachs prime brokerage said in a note that the recent bounce ‌in software and IT services stocks ⁠may continue, even though this week, hedge funds ‌were as short as ‌they have ever been on the sector.

A short position expects an asset price ​to fall.

The S&P 500 software and services index <.SPLRCIS> has tumbled over 18% this ⁠year so far, shedding more than $1.2 trillion in market ​value, according to LSEG data. But this week, stocks in this index ​recovered and the index rose ‌over 4%

Key findings of the Goldman report:

* Goldman Sachs prime ⁠brokerage believes that the recentrecovery in software stocks will continue, it said in a note ⁠toclients on Wednesday, seen by Reuters on Thursday. * Software ​and IT services were the top two shorted U.S.industries on February 24th on Goldman Sach's prime ‌brokeragetrading desk. * Short positions have risen to the highest level on ‌recordfor Goldman, which began tracking positions ⁠in 2016. * Long positions, ‌betting these ​stocks will rise, stand ata record low.

(Reporting by Nell Mackenzie; editing by Dhara ‌Ranasinghe)


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