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TechStock Radar
E-mail: Rob@techstockprospector.com
Technorati
June 2017
Archives
 
Thursday, June 22, 2017, 10:35 AM — by Rob DeFrancesco, TechStock Radar
Chart Watch: Tableau

After dipping to a low of $57.25 on June 12, Tableau Software (DATA, $65.48) shares have rebounded, pushing through short-term resistance at $64.89. The 52-week high stands at $66.86.

 
Thursday, June 22, 2017, 10:10 AM — by Rob DeFrancesco, TechStock Radar
Cleveland Research: Microsoft a 'Buy'

Cleveland Research starts Microsoft (MSFT, $69.74) at ‘Buy’ with a price target of $80, citing potential consensus EPS upside of 4% to 5% from market share gains at Azure and Dynamics as well as improvements in the Office 365 mix. The firm looks for larger deal sizes in Microsoft’s cloud business to drive deferred revenue growth.

 
Thursday, June 22, 2017, 10:02 AM — by Rob DeFrancesco, TechStock Radar
June Issue of TSP Available on Kindle

Download the new issue of Tech-Stock Prospector to your Kindle or Kindle reading app for iOS (iPad & iPhone) and Android. 


Order the latest issue of TSP here.



Here are some of the topics covered in the June 2017 issue:


*Machine learning and AI in the workplace

*Salesforce gets smarter with Einstein

*Tableau applies machine learning to analytics

*Trend Watch: Harnessing Big Data

*Cloudera faces an early stumble

*More Splunk customers switch to subscriptions

*New Relic is winning bigger accounts

*Twilio shares regroup after sharp pullback

*Workday sees success with add-on modules

*Marvell Technology in turnaround mode


*Snap shares hit by concerns about user growth

*Facebook makes Instagram more competitive

*Okta sees opportunity in new external use cases

*Security Watch: Protecting consumer identities

*Why some smart investors like Symantec

*Coupa Software expands its product offerings

*Sales reorganization progress at Palo Alto Networks 

*Increased revenue visibility is a boon for Imperva

*Zendesk goes after more enterprise deals

*Deal Report: Apptio IPO follow-up

 
Wednesday, June 21, 2017, 10:25 AM — by Rob DeFrancesco, TechStock Radar
BofA/Merrill Downgrades Intel

BofA/Merrill downgrades Intel (INTC, $34.26) to ‘Neutral’ and trims its price target to $38 from $42, saying increased competition (from AMD and NVIDIA) could limit the chipmaker’s ASP expansion, which has been a key source of growth.

 
Wednesday, June 21, 2017, 10:09 AM — by Rob DeFrancesco, TechStock Radar
Chart Watch: Zendesk

After pushing above the 50-day moving average of $27.33 on Monday, Zendesk (ZEN, $28.16) shares, recovering from a dip to $24.49 on May 22, have taken out short-term resistance at $27.90. The May 4 high stands at $30.24.

 
Tuesday, June 20, 2017, 10:41 AM — by Rob DeFrancesco, TechStock Radar
Chart Watch: Twilio

Twilio (TWLO, $28.47) shares have rebounded 25% from the May 8 low of $22.80 and retaken their 50-day moving average at $27.08. 


The stock is now within the large gap on the price chart from early May, which extends up to $32.75.


The 200-day moving average is declining from $34.64.

 
Tuesday, June 20, 2017, 10:32 AM — by Rob DeFrancesco, TechStock Radar
Pacific Crest Upgrades Marvell

Pacific Crest upgrades Marvell Technology (MRVL, $17.81) to ‘Overweight’ with a price target of $22, saying recent supply-chain checks were incrementally more positive. 


The firm believes revenue growth over the next year will be driven in part by solid sales momentum into datacenter customers and pricing power on switches.


Marvell shares this morning hit a new 52-week high at $18.18.


For more on Marvell, see the June 2017 issue of Tech-Stock Prospector (TSP #184).

 
Monday, June 19, 2017, 10:18 AM — by Rob DeFrancesco, TechStock Radar
Morgan Stanley Ups Microsoft Target

Morgan Stanley lifts its Microsoft (MSFT, $70.53) price target to $80 from $72, saying the company’s secular positioning is strengthening, with earnings growth poised to move higher. 


The fiscal 2018 (June) consensus EPS estimate of $3.32 indicates growth of 9.5%, acceleration from this fiscal year’s expected growth rate of 8.6%.

 
Monday, June 19, 2017, 10:07 AM — by Rob DeFrancesco, TechStock Radar
Maxim Lifts Apple Target to $180

Maxim raises its Apple (AAPL, $145.66) price target to $180 from $171 based on an increased iPhone unit forecast. The firm’s recent survey indicates significant pent-up demand for the iPhone in China.  

 
Friday, June 16, 2017, 10:52 AM — by Rob DeFrancesco, TechStock Radar
Amazon Buying Whole Foods

In a bold move to take on grocery retailers at the physical store level, Amazon (AMZN, $996.60) this morning announces the $13.7-billion acquisition of Whole Foods Market (WF, $41.96) for $42 a share in cash.


Amazon will use its Whole Foods investment to blur the lines between online and offline food shopping.


Amazon stock this morning is up more than 3% on the news, while Whole Foods is advancing nearly 27%.

 
Friday, June 16, 2017, 10:27 AM — by Rob DeFrancesco, TechStock Radar
Cowen Bullish on Rapid7

Cowen thinks investors are not fully appreciating the growth rate at Rapid7 (RPD, $16.93), a provider of a cloud-based security analytics solutions. The firm reiterates its price target of $22.


Rapid7 has significantly enhanced its Insight data analytics platform, which is driving higher levels of new customer acquisition, better cross-selling activity and stronger lifetime customer value, says Cowen.


In Q1, Rapid7’s revenue rose 30% to $45.2 million. 

 
Thursday, June 15, 2017, 10:26 AM — by Rob DeFrancesco, TechStock Radar
Nomura Ups Amazon Target

Nomura Instinet raises its Amazon (AMZN, $952.88) price target to $1,100 from $975 after assigning higher forward valuations to the company’s cloud and North American e-commerce business units.

 
Thursday, June 15, 2017, 10:20 AM — by Rob DeFrancesco, TechStock Radar
Canaccord Downgrades Alphabet

Canaccord downgrades Alphabet (GOOGL, $944) to ‘Hold’ based on valuation. The firm maintains its price target of $1,000.

 
Thursday, June 15, 2017, 10:12 AM — by Rob DeFrancesco, TechStock Radar
Barclays Cautious on Next iPhone Cycle

Barclays remains cautious about the upcoming Apple (AAPL, $143.51) iPhone cycle, saying unit growth might not be as strong as expected because of stagnation in the premium smartphone market (ASPs of $700+). 


In the higher-growth midrange segment (ASPs of $300 to $699), Apple is losing share to rivals (especially in China), says the firm.


Barclays maintains its price target of $123.

 
Wednesday, June 14, 2017, 10:36 AM — by Rob DeFrancesco, TechStock Radar
Chart Watch: Apple

While Apple (AAPL, $145.53) shares have rebounded a bit from Monday’s low of $142.51, they remain below the 50-day moving average, which is starting to flatten out at $148.38.


The 200-day moving average continues to trend upward from $126.81.

 
Wednesday, June 14, 2017, 10:27 AM — by Rob DeFrancesco, TechStock Radar
Goldman Boosts NVIDIA Target

Goldman Sachs boosts its NVIDIA (NVDA, $150.95) price target to $171 from $165 to reflect an increase in revenue/EPS estimates. The firm now has a higher sales forecast for Nintendo’s new Switch gaming console, and raises assumptions for NVIDIA’s gross margin in the auto segment.

 
Tuesday, June 13, 2017, 10:32 AM — by Rob DeFrancesco, TechStock Radar
OpCo Ups Check Point PT to $128

OpCo lifts its Check Point Software (CHKP, $110.57) price target to $128 from $117, calling the company’s model “unique and highly profitable.” 


The firm believes solid momentum in the business (Q1 software blades subscription revenue rose 27%; deferred revenue was up 20% to $1.06 billion) can continue to expand valuation levels.

 
Tuesday, June 13, 2017, 10:25 AM — by Rob DeFrancesco, TechStock Radar
Goldman Sachs Downgrades Shopify

Goldman Sachs downgrades Shopify (SHOP, $87.98) to ‘Neutral’ with a price target of $96. The firm says the risk/reward is balanced with the shares having more than doubled since its upgrade in early October.


Shopify stock hit an all-time high of $100.80 on June 5.

 
Monday, June 12, 2017, 11:16 AM — by Rob DeFrancesco, TechStock Radar
A New Low for Snap

Snap (SNAP, $18.08) shares this morning fell to a new post-IPO low of $17.56.


The post-IPO high of $29.44 was reached on March 3, the stock's second trading session after the offering.

 
Friday, June 9, 2017, 10:22 AM — by Rob DeFrancesco, TechStock Radar
BofA/Merrill Hikes NVIDIA PT to $185

BofA/Merrill raises its NVIDIA (NVDA, $164.32) price target to $185 from $155 based on strong growth potential in the gaming and datacenter segments. 


The firm calls out rapidly increasing interest/momentum in eSports leagues, healthy demand for new gaming products as well as strong pricing for the company’s GeForce gaming card.


BofA/Merrill also says NVIDIA shares are under-owned by large investors, citing 17% ownership by large-cap active U.S. managers, vs. 25% to 39% ownership for large-cap semiconductor companies in general.

 
Friday, June 9, 2017, 10:11 AM — by Rob DeFrancesco, TechStock Radar
Cloudera Shares Stumble

Shares of Cloudera (CLDR, $20.20), provider of an enterprise data management platform, this morning are down 12% after the company’s fiscal Q1 (April) billings growth came in below expectations. Earlier, the stock traded to a low of $19.20.


However, revenue rose 41% to $79.6 million, beating the consensus estimate of $75.8 million. Subscription revenue of $64.7 million advanced 59%.


For FQ2, Cloudera sees revenue of $85 million to $88 million (growth of 32% to 33%), vs. the consensus of $83.8 million.

 
Thursday, June 8, 2017, 10:22 AM — by Rob DeFrancesco, TechStock Radar
Snap Slips

After rallying off of the post-Q1 earnings low of $17.59 from May 11, Snap (SNAP, $18.48) shares are again getting hit by sellers. The RSI is falling from 36.7.


The latest rebound peaked on May 25 at $21.94, above the 50-day moving average of $21.09.

 
Thursday, June 8, 2017, 10:12 AM — by Rob DeFrancesco, TechStock Radar
UBS Lifts NVIDIA PT to $168

UBS raises its NVIDIA (NVDA, $152.46) price target to $168 from $148, saying it has increased confidence in GPU sales into the auto sector.


In the latest quarter, NVIDIA’s auto-related revenue rose 24% to $140 million.


The firm raises its estimates to reflect higher penetration in electric cars, and sees a TAM of $8 billion for autonomous vehicles.

 
Wednesday, June 7, 2017, 10:11 AM — by Rob DeFrancesco, TechStock Radar
Susquehanna Bullish on Imperva

Susquehanna starts Imperva (IMPV, $51.10) at ‘Positive’ with a price target of $60, saying the company’s recurring subscription revenue far outpaces traditional product revenue and leads to increased visibility & predictability. 


The firm views Imperva as a best-of-breed vendor in both the on-prem and cloud Web application firewall (WAF) markets, and expects Incapsula to be a key driver of growth going forward.

 
Tuesday, June 6, 2017, 10:16 AM — by Rob DeFrancesco, TechStock Radar
JP Morgan Lowers Snap PT to $18

JP Morgan trims its Snap (SNAP, $20.35) price target to $18 from $20, citing reduced expectations for Q2 DAU growth (due to increased competition from Instagram) and Q3 revenue (tough comp going up against non-recurring Olympics & political revenue from the year-ago quarter).


The firm looks for Q2 DAU adds of 8 million, down from its previous forecast of +10 million.


For Q3, the firm now sees revenue of $266.4 million, well below its previous forecast of $331.6 million. The consensus is $285.8 million.

 
Tuesday, June 6, 2017, 10:14 AM — by Rob DeFrancesco, TechStock Radar
BofA/Merrill Turns Positive on Yelp

BofA/Merrill upgrades Yelp (YELP, $30.02 ) to ‘Buy’ with a price target of $37, saying consensus estimates can still be met despite the Q2 top-line guide down. The firm sees improved execution and quarterly net account adds. 


The 2017 consensus revenue estimate of $855.8 million (guidance is $850 million to $865 million) indicates growth of 20%. 


Yelp shares have rebounded a bit off of the May 10 low of $26.93.

 
Friday, June 2, 2017, 10:02 AM — by Rob DeFrancesco, TechStock Radar
Chart Watch: Zendesk

After rebounding off of the May 22 low of $24.49, shares of Zendesk (ZEN, $27.22) have retaken the 200-day moving average of $26.42 and are now attempting to get above the 50-day moving average at $27.37. There’s short-term resistance at $27.55.

 
Friday, June 2, 2017, 9:34 AM — by Rob DeFrancesco, TechStock Radar
BofA/Merrill Hikes Workday PT to $118

BofA/Merrill raises its Workday (WDAY, $100.88) price target to $118 from $114 following last night’s strong fiscal Q1 (April) results (revenue +38%), citing success with add-on modules and solid growth in subscription revenue. The firm believes guidance is conservative given the new enterprise sales organization in North America.

 
Thursday, June 1, 2017, 10:34 AM — by Rob DeFrancesco, TechStock Radar
Cowen Boosts Palo Alto Target

Cowen lifts its Palo Alto Networks (PANW, $137.25) price target to $165 from $150, saying the company’s progress on the sales reorganization is encouraging. The firm points out that new customer acquisition in FQ3 of 2,000+ was the second strongest in company history.

 
Thursday, June 1, 2017, 10:23 AM — by Rob DeFrancesco, TechStock Radar
Palo Alto Networks Shares Surge 16%

There’s a relief rally taking place today in shares of Palo Alto Networks (PANW, $138.42), powered by last night’s FQ3 results. Currently up 16%, the stock earlier traded to a high of $139.95. The 200-day moving at $134.81 has been taken out.

   
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