Shares of enterprise software-as-a-service (SaaS) firms MongoDB (NASDAQ: MDB), Datadog (NASDAQ: DDOG), and Twilio (NYSE: TWLO) were up strongly on Monday, rising 4.6%, 4.6%, and 6.1%, respectively, as of 1:45 p.m. ET.

There wasn't much company-specific news today, but each stock appears to be rising on the heels of private equity (PE) firm Thoma Bravo's acquisition of software peer Coupa Software. Some investors may also be looking to bottom-fish in these beaten-down software stocks in the hope inflation may show more concrete signs of meaningfully declining in tomorrow's Consumer Price Index report.

Over the weekend, private equity firm Thoma Bravo agreed to acquire cloud-based business spending and supply chain software firm Coupa Software for $81 per share, or about $8 billion. The buyout price amounts to about 8.4 times next year's sales estimates, and is about 30% above Friday's closing price. Still, the buyout price is a stunning 78% below Coupa's all-time highs reached back in February 2021.

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Source Fool.com