BofA Securities raised price targets across software and cybersecurity stocks, signaling that concerns about artificial intelligence making traditional software obsolete may be easing while AI creates new security spending. In related Tuesday and Wednesday notes, analysts Tal Liani, Koji Ikeda and Matt Bullock raised targets for 10 software companies, while Liani separately lifted targets for SentinelOne, SailPoint and Zscaler. BofA said it increased valuation multiples rather than earnings forecasts for the software companies, favoring stronger growth and early AI monetization. ServiceNow, Figma and Snowflake showed evidence through growth, AI usage or cash-generation prospects, while Adobe remained a counterexample with an Underperform rating and AI-first annual recurring revenue below 2% of total ARR. In cybersecurity, Liani said AI is shifting from a productivity theme to a security spending catalyst as autonomous agents operate across systems with limited human oversight, creating new attack surfaces and demand for identity governance, cloud security and Zero Trust architecture. He raised SailPoint's target to $19 from $16 while keeping a Neutral rating, SentinelOne's to $26 from $22 while reiterating Buy, and Zscaler's to $210 from $175. Cybersecurity ETFs had already outperformed the S&P 500, leaving the broader question of whether AI-driven software and security demand will translate into durable revenue growth.