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TechStock Radar
E-mail: Rob@techstockprospector.com
Technorati
September 2017
Archives
 
Tuesday, September 19, 2017, 10:12 AM — by Rob DeFrancesco, TechStock Radar
Chart Watch: Intel

Intel (INTC, $37.24) shares have been acting well, sporting an RSI of 72.6. 


The next resistance level to watch is $37.50 from late April. The 50-day moving average of $35.33 is approaching the 200-day moving average at $35.40 for a potential upside crossover.


The 52-week high of $38.45 was reached on January 27.

 
Tuesday, September 19, 2017, 10:04 AM — by Rob DeFrancesco, TechStock Radar
Morgan Stanley Boosts Apple Target

Morgan Stanley raises its Apple (AAPL, $158.88) price target to $194 from $182, saying a high loyalty level for the aspirational brand could actually boost demand for the iPhone even with the innovation-led price increases.

 
Tuesday, September 19, 2017, 10:02 AM — by Rob DeFrancesco, TechStock Radar
Sept 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 September 2017 issue:


*Q2 earnings season winners in tech

*The top performers in cloud software

*Workday shows revenue growth acceleration

*A comeback quarter for Twilio

*Atlassian battles Slack in the workplace

*Salesforce sets its next major revenue goal

*ServiceNow shares hit new all-time high

*New products are a growth driver at Veeva

*Trend Watch: Online ad spend on the rise

*Alphabet & Facebook continue to dominate


*How Everbridge helps with natural disasters

*Okta is a disruptor in identity management

*Coupa Software helps customers manage expenses

*HubSpot remains a market share gainer

*Tech Focus: Security budgets shift toward analytics

*The Big Data approach to security is helping Splunk

*Why some smart investors like Palo Alto Networks

*Proofpoint gains traction with its emerging products

*Apple enters its new iPhone super cycle

*Cloudera shares show volatility since IPO


 
Monday, September 18, 2017, 10:25 AM — by Rob DeFrancesco, TechStock Radar
Chart Watch: HubSpot

HubSpot (HUBS, $74.75) shares this morning pushed above short-term resistance at $74.16. The next resistance to watch is $76.10 from July.


The all-time high of $78.50 was reached in early June.


The 50-day moving average is trending upward from $71.20.

 
Monday, September 18, 2017, 10:18 AM — by Rob DeFrancesco, TechStock Radar
Summit Redstone Bullish on ServiceNow

Summit Redstone starts coverage of ServiceNow (NOW, $117.08) at ‘Buy’ with a price target of $135, calling the company the “undisputed market leader” in cloud IT service management.


ServiceNow’s 2020 revenue goal of $4 billion looks achievable thanks to the company’s expanded TAM, competitive moat and increasing penetration of the Global 2000, says the firm.


ServiceNow is a long-term holding in the Tech-Stock Prospector Vulture Portfolio, added in August 2014, when the shares were trading at $55.

 
Friday, September 15, 2017, 11:12 AM — by Rob DeFrancesco, TechStock Radar
Cantor Ups Snap Target to $17

Cantor Fitzgerald lifts its Snap (SNAP, $15.02) price target to $17 from $15 based on the argument that the company’s 30 minutes per day of user engagement and monetization potential are under-appreciated by investors.


The firm says Snap’s monetization per minute has significant upside potential, aided by the secular rise of mobile video as well as differentiated shows debuting on the platform.

 
Friday, September 15, 2017, 11:02 AM — by Rob DeFrancesco, TechStock Radar
Evercore ISI Boosts NVIDIA PT to $250

Evercore ISI raises its NVIDIA (NVDA, $178.67) price target to $250 from $180, saying the company is building out the industry standard for AI. 


The firm’s bullishness, ramped up after a meeting with NVIDIA management, is based on the company’s first-mover advantage, unified GPU architecture and system-level approach.


Evercore ISI now sees a clear path to $10 a share in earnings power over the next three to five years, driven by growth opportunities for AI in the datacenter and automotive sectors. 

 
Thursday, September 14, 2017, 10:14 AM — by Rob DeFrancesco, TechStock Radar
Morgan Stanley Sees Upside for Prime

Morgan Stanley expects the Whole Foods acquisition to drive faster Amazon (AMZN, $995) Prime subscription growth. The firm estimates that roughly 5 million Whole Foods households are not currently Prime members. With Prime-only pricing and other special offers, Morgan Stanley thinks Amazon can convert half of those shoppers over to its service. The firm maintains its Amazon price target of $1,150.

 
Thursday, September 14, 2017, 10:01 AM — by Rob DeFrancesco, TechStock Radar
Barclays Upgrades VMware

Barclays upgrades VMware (VMW, $110.86) to ‘Overweight’ and raises its price target to $130 from $109, saying the stock looks undervalued now that the negative thesis of the company losing market share as workloads move to the public cloud no longer seems valid. The firm expects VMware to continue to benefit from workload growth.


For more on VMware, see TechStock Radar—September 5, 2017.

 
Wednesday, September 13, 2017, 11:02 AM — by Rob DeFrancesco, TechStock Radar
Barclays Lifts Paycom Target to $82

Barclays raises its Paycom (PAYC, $75.02) price target to $82 from $74, saying the company is seeing healthy customer additions, which should continue to drive revenue and margins.


Paycom shares on September 1 hit a new all-time high of $75.57.


For more on Paycom, see TechStock Radar—August 3, 2017.

 
Wednesday, September 13, 2017, 10:52 AM — by Rob DeFrancesco, TechStock Radar
JP Morgan Still Sees Upside for Apple

JP Morgan reiterates its Apple (AAPL, $158.15) price target of $176, saying it continues to expect better replacement demand into 2018 than consensus estimates imply. 


The firm thinks yesterday’s product launch event was generally in line with expectations, with the only exception being a bit of a push-out for iPhone X availability. 

 
Wednesday, September 13, 2017, 10:45 AM — by Rob DeFrancesco, TechStock Radar
Loop Capital Bullish on Amazon

Loop Capital starts Amazon (AMZN, $985) at ‘Buy’ with a price target of $1,200. The firm expects many years of robust growth from Amazon’s Prime membership program and AWS cloud computing platform. Loop also calls out signs of improving free cash flow generation.

 
Tuesday, September 12, 2017, 3:18 PM — by Rob DeFrancesco, TechStock Radar
Apple Debuts iPhone X

Apple (AAPL, $160.12) debuts the 10th anniversary iPhone X. The new handset features an edge-to-edge 5.8-inch super retina OLED display, Face ID (3D-sensing facial recognition technology to unlock the phone) and no physical “home” button. 


Pre-orders start October 27 for shipment beginning on November 3. The starting price is $999 for the 64GB version.

 
Tuesday, September 12, 2017, 9:10 AM — by Rob DeFrancesco, TechStock Radar
T. Rowe Price Lifts Okta Stake

T. Rowe Price yesterday disclosed a 10.3% stake in Okta (OKTA, $30.19—TSP Watch List), provider of a cloud-based identity management platform. The firm now owns 1.38 million shares, up from 806,573 shares held as of the end of June. 


That moves T. Rowe Price into the #2 investor position, behind #1 Glynn Capital Management’s position of 2.011 million shares. The next largest holders: Blackrock (1.196 million shares), Fidelity (1.014 million shares) and Gilder Gagnon Howe (1.011 million shares).

 
Friday, September 8, 2017, 10:35 AM — by Rob DeFrancesco, TechStock Radar
3 Equifax Breach Beneficiaries

Macquarie sees three main beneficiaries of the big Equifax data breach:


*Proofpoint (PFPT, $93.93)—e-mail security

*Symantec (SYMC, $31.55)—consumer identity theft services

*Imperva (IMPV, $45)—Web application security solutions

 
Friday, September 8, 2017, 10:22 AM — by Rob DeFrancesco, TechStock Radar
A New All-Time High for Proofpoint

Shares of Proofpoint (PFPT, $94.18) this morning hit a new all-time high at $96.99 after the provider of cybersecurity solutions at its analyst day yesterday lifted its three-year revenue target. 


The new 2020 top-line guidance range of $1.025 billion to $1.1 billion compares favorably to the previous guide of $950 million to $1.05 billion.


Proofpoint is a long-term holding in the Tech-Stock Prospector Small-Cap Portfolio, added in September 2013, when the stock was trading at $27.91.

 
Thursday, September 7, 2017, 11:12 AM — by Rob DeFrancesco, TechStock Radar
Davidson Sets Amazon Target at $1,300

DA Davidson starts Amazon (AMZN, $979) at ‘Buy’ with a price target of $1,300, saying the company is poised to take even more market share in the retail sector following the completion of the Whole Foods acquisition. The firm sees continued retail expansion and the AWS cloud unit as two key growth drivers going forward.

 
Thursday, September 7, 2017, 10:05 AM — by Rob DeFrancesco, TechStock Radar
Morgan Stanley Upgrades FireEye

Morgan Stanley upgrades FireEye (FEYE, $15.86) to ‘Overweight’ and raises its price target to $19 from $13 based on the firm’s customer survey that suggests the adoption potential for the company’s new Helix security platform is significantly higher than the market assumes. 


Launched last November, Helix unifies network, endpoint and third-party product visibility.


The firm says it’s also encouraged by positive spending indications from customers across the FireEye subscription base.


FireEye shares this morning are up more than 7%.

 
Wednesday, September 6, 2017, 11:51 AM — by Rob DeFrancesco, TechStock Radar
Imperial Capital Upgrades Palo Alto

Imperial Capital upgrades Palo Alto Networks (PANW, $143.93) to ‘Outperform’ and raises its price target to $165 from $137, citing strong progress on the sales force reorganization and increased adoption of the company’s newer products and subscription services.


The firm believes the refresh of older appliances from successively larger customer cohorts along with international expansion due to broadening vendor awareness could lead to potential revenue upside.

 
Wednesday, September 6, 2017, 10:23 AM — by Rob DeFrancesco, TechStock Radar
MoffettNathanson Positive on Saleforce

MoffettNathanson starts coverage of Salesforce (CRM, $95.39) at ‘Buy’ with a price target of $125 based on a forecast of above-consensus organic annual revenue and billings growth of 20%+ for the next three to five years. 


The firm’s bullish outlook is based on Salesforce’s large deal momentum, traction in key verticals and strength in commerce.

 
Tuesday, September 5, 2017, 10:30 AM — by Rob DeFrancesco, TechStock Radar
Baird Remains Bullish on Apple

Baird reiterates its Apple (AAPL, $163.94) price target of $172, citing its recent market research pointing to a continued strong ecosystem. 


The iPhone keeps the platform in its leadership position, while newer offerings (Watch and AirPods) build momentum within their respective categories, says the firm.

 
Tuesday, September 5, 2017, 9:58 AM — by Rob DeFrancesco, TechStock Radar
OpCo Boosts VMware Target to $120

OpCo raises its VMware (VMW, $107.37) price target to $120 from $110 based on evidence suggesting the company’s hybrid cloud strategy is resonating with customers. 


With increasing adoption of newer solutions, the firm believes customers are likely to continue to increase their spending with VMware.


For more on VMware, see TechStock Radar—August 28, 2017.

 
Friday, September 1, 2017, 10:25 AM — by Rob DeFrancesco, TechStock Radar
JP Morgan Upgrades Palo Alto Networks

JP Morgan upgrades Palo Alto Networks (PANW, $146.14) to ‘Overweight’ and lifts its price target to $182 from $140, saying FQ4 results indicate that the company’s sales execution issues that hindered its performance in the first half of FY’17 are now predominantly in the past. The firm points out growing traction for Palo Alto’s refreshed product line.

 
Friday, September 1, 2017, 10:10 AM — by Rob DeFrancesco, TechStock Radar
Palo Alto Networks Jumps 10%

A solid demand environment and improved sales productivity helped drive upside for security solutions vendor Palo Alto Networks (PANW, $146.67) in the July quarter. 


Revenue rose 27% to $509.1 million, beating the consensus estimate of $487.3 million. EPS of 92 cents topped the consensus by 13 cents.


In FQ4, recurring services revenue of $296.8 million (58% of total revenue) advanced 42%. Billings growth accelerated to 17% from 12% in the previous quarter.


For FQ1 (Oct.), Palo Alto sees revenue of $482 million to $492 million, vs. the consensus of $486.5 million.


Palo Alto shares this morning are up more than 10% on heavy volume.


Palo Alto Networks is a core security holding in the Tech-Stock Prospector Vulture Portfolio, added in June 2013, when the stock was trading at $39.42.

   
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