this has been a rotten year to own software stocks with the group down about 30 on average in 2022 and many highgrowth highmultiple companies off 50 or worse it sure would be tempting to bottom fish here but investors need to be aware there are additional shoes to drop there are signs that enterprise demand is softening and estimates almost certainly are headed lower in a research note friday citi analyst tyler radke said he thinks that the “derating” of the software group seems mostly done with valuation multiples near multiyear lows but he also sees potential for more volatility ahead with risks to secondhalf earnings estimates given the weakening macroeconomic backdrop