What Happened?
A number of stocks fell in the afternoon session after Anthropic announced Managed Agents, a hosted service for long-running AI tasks.
Investors reacted to the potential disruption of existing SaaS business models, as these agents continued to pose a threat to expensive, seat-based enterprise software with more efficient, autonomous AI infrastructure.
Managed agents are specialized AI systems that can independently execute multi-step, long-duration tasks. Unlike standard AI chatbots or basic APIs that require constant human prompting, managed agents feature durable states and resumable workflows, allowing them to pause and restart without losing progress.
While traditional software products require manual input for every action, these agents use "policy-guarded tools" to interact with digital environments, making them autonomous workers rather than just passive tools.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
- Healthcare And Life Sciences Software company Doximity (NYSE: DOCS) fell 3%. Is now the time to buy Doximity? Access our full analysis report here, it’s free.
- Vertical Software company Guidewire Software (NYSE: GWRE) fell 5%. Is now the time to buy Guidewire Software? Access our full analysis report here, it’s free.
- Tax Software company Intuit (NASDAQ: INTU) fell 5%. Is now the time to buy Intuit? Access our full analysis report here, it’s free.
- Cloud Monitoring company PagerDuty (NYSE: PD) fell 3.7%. Is now the time to buy PagerDuty? Access our full analysis report here, it’s free.
- Data Analytics company Health Catalyst (NASDAQ: HCAT) fell 5.4%. Is now the time to buy Health Catalyst? Access our full analysis report here, it’s free.
Zooming In On Health Catalyst (HCAT)
Health Catalyst’s shares are extremely volatile and have had 51 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 1 day ago when the stock dropped 4.3% on the news that geopolitical tensions spiked following a strict deadline set for Iran.
President Trump set a high-stakes deadline for Iran to reopen the Strait of Hormuz, a vital oil shipping route. Investors were worried about a potential military strike if deadline passes without a deal. The tension also pushed oil prices to their highest levels in years. This could increase costs for businesses, trigger inflation and slow down global growth.
Health Catalyst is down 55% since the beginning of the year, and at $1.03 per share, it is trading 77.3% below its 52-week high of $4.52 from May 2025. Investors who bought $1,000 worth of Health Catalyst’s shares 5 years ago would now be looking at only $21.04.
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