by Rob DeFrancesco, Friday, February 24, 2017, 4:22 PM — TechStock Radar
Chart Watch: Splunk
After running up as much as 25% from the January 23 low of $52.89, (SPLK, $62.80) shares today gave back some, falling 3.2% on heavy volume. The stock did manage to rebound from the intraday low of $61.01. Splunk
The 200-day moving average is trending upward from $58.07.
by Rob DeFrancesco, Friday, February 24, 2017, 2:15 PM — TechStock Radar
Read the February Issue of TSP on Kindle
Download the new issue of to your Kindle or Kindle reading app for iOS (iPad & iPhone) and Android. Tech-Stock Prospector
Order the latest issue of TSP here. Here are some of the topics covered in the February 2017 issue: *Picking the winners in 5G wireless *The next upside catalysts for Apple *Demand for dark fiber lights up Zayo * Trend Watch: More workloads in the cloud * Workday scores a big contract win * ServiceNow signs its largest deal ever * Trend Watch: Sensor data analytics * Intel and the Internet of Things *Why Talend is a Big Data disruptor *Signs of a turnaround at Tableau Software * Deal Report: Assessing the Snap IPO *The road to monetization for messaging apps * Facebook delivers another strong quarter *YouTube helps drives growth at Alphabet * Software Focus: Cisco acquires AppDynamics *Why New Relic could be a buyout target *A new growth driver for Marvell * Proofpoint boosts product adoption * Small-Cap Focus: Twilio builds its customer base *The outlook for Gigamon after the recent stumble
by Rob DeFrancesco, Friday, February 24, 2017, 11:10 AM — TechStock Radar
Chart Watch: Workday
In a tough session so far for the overall market, shares of (WDAY, $89.17) are showing relative strength, testing resistance at $89.45. This morning’s high is $89.76. The RSI stands at 69.9. Workday
The 50-day moving average is on the rise from $78.79 and approaching the 200-day moving average of $81.09 for a potential upside crossover.
by Rob DeFrancesco, Friday, February 24, 2017, 10:05 AM — TechStock Radar
BMO Capital Still Upbeat on Splunk
BMO Capital reiterates its (SPLK, $61.93) price target of $71 following last night’s strong FQ4 results. Believing that guidance is conservative, the firm recommends buying the stock on weakness. Splunk
by Rob DeFrancesco, Friday, February 24, 2017, 9:02 AM — TechStock Radar
Mizuho Remains Bullish on NVIDIA
Mizuho remains bullish on (NVDA, $100.49), reiterating its price target of $130. The firm believes gaming and Deep Learning will continue to be long-term sustainable trends for the company. NVIDIA
While acknowledging that there is some worry about gaming slowing down, Mizuho believes it would be premature to write off the current cycle on one quarter of seasonal softness, pointing out promising new titles to be launched this summer.
by Rob DeFrancesco, Thursday, February 23, 2017, 11:01 AM — TechStock Radar
Chart Watch: NVIDIA
(NVDA, $101.21) shares this morning are down more than 8% and have fallen below the 50-day moving average of $106.96. There’s short-term support just above the $99 level. NVIDIA
by Rob DeFrancesco, Thursday, February 23, 2017, 9:03 AM — TechStock Radar
BMO Capital Downgrades NVIDIA
BMO Capital downgrades (NVDA, $110.76) to ‘Underperform’ and reduces its price target to $85 from $110. NVIDIA
The firm believes the “perfect storm” of fundamentals that drove the recent earnings surge is ebbing, pointing out reduced demand in gaming (after a surge due to a technology transition) and increasing competition in the datacenter segment (from rivals AMD and Intel).
In the near-medium term, BMO Capital sees limited volume for NVIDIA’s ADAS products, the expected next leg of the company’s growth story.
by Rob DeFrancesco, Wednesday, February 22, 2017, 4:19 PM — TechStock Radar
A New High for Apple
(AAPL, $137.07) shares today hit a fresh all-time high at $137.12. The forward P/E now stands at 15.3. Apple
by Rob DeFrancesco, Wednesday, February 22, 2017, 11:06 AM — TechStock Radar
Rosenblatt Bullish on NVIDIA
Rosenblatt starts (NVDA, $110.44) at ‘Buy’ with a price target of $140 based on the company’s growth potential in AI. NVIDIA
by Rob DeFrancesco, Wednesday, February 22, 2017, 9:03 AM — TechStock Radar
UBS: Cisco May Need Aggressive M&A
UBS remains bullish on (CSCO, $34.13), but says the networking giant is at an important juncture with respect to top-line growth and may need aggressive M&A to deal with its core business coming under attack from competitors. The firm maintains its price target of $37. Cisco Systems
by Rob DeFrancesco, Tuesday, February 21, 2017, 4:04 PM — TechStock Radar
Chart Watch: Proofpoint
(PFPT, $83.56) shares this month have traded in a fairly narrow range. Today, the stock moved to the high end of that range, testing short-term resistance at $84.23. The all-time high of $88 was reached in November. Proofpoint
The 50-day moving average is trending upward from $77.52.
by Rob DeFrancesco, Tuesday, February 21, 2017, 12:05 PM — TechStock Radar
Morgan Stanley Lifts Apple Target
Morgan Stanley remains quite bullish on the next (AAPL, $136.30) iPhone cycle, raising its price target to $154 from $150 based on expectations for accelerated upgrades. The firm is particularly upbeat on China, saying it sees lots of opportunity for market share gains. Apple
by Rob DeFrancesco, Tuesday, February 21, 2017, 9:15 AM — TechStock Radar
Apple Embracing Wireless Charging?
Cowen says its research indicates (AAPL, $135.72) is “getting on board” wth wireless charging for the next iPhone. Apple The firm’s supply-chain checks suggest Broadcom (AVGO) is the likely chip supplier for the new technology.
by Rob DeFrancesco, Friday, February 17, 2017, 3:25 PM — TechStock Radar
Wall Street Bumps Up Arista Targets
KeyBanc has increased confidence that (ANET, $117.56) can reach $4 in EPS this year. The firm ups its price target to $121 from $100. Arista Networks
Cowen goes to $123 from $86, citing Arista’s solid competitive repositioning and the strength of the datacenter switching upgrade cycle.
OpCo lifts its target to $120 from $115, saying the company’s products continue to see strong market adoption, while Stifel goes to $125 from $102 based on positive Q1 guidance.
by Rob DeFrancesco, Friday, February 17, 2017, 12:03 PM — TechStock Radar
Q4 Big Buys: T. Rowe Price Likes Splunk
In Q4, T. Rowe Price was the #1 buyer of (SPLK, $63.98), boosting its position by 142% via the purchase of 7.48 million shares. Splunk
The money manager now owns 12.73 million SPLK shares and is the #1 holder.
by Rob DeFrancesco, Friday, February 17, 2017, 11:04 AM — TechStock Radar
Arista Shares Pop 18%
Deutsche Bank raises its (ANET, $118.93) price target to $120 from $105 after last night’s strong Q4 results. The firm is bullish on the 100G product cycle. Arista Networks
Arista shares this morning up are more than 18%. Earlier, a new all-time high was reached at $119.39.
by Rob DeFrancesco, Friday, February 17, 2017, 10:02 AM — TechStock Radar
Chart Watch: NVIDIA
Shares of (NVDA, $105.44) are losing upside momentum (RSI falling from 42.5) and have dipped below the 50-day moving average of $106.19. There’s short-term support just over the $99 level. NVIDIA
NVIDIA hit an all-time high of $120.92 on February 7.
by Rob DeFrancesco, Friday, February 17, 2017, 9:09 AM — TechStock Radar
Credit Suisse Lifts Arista PT to $125
Calling (ANET, $100.17) “the best secular growth opportunity” in IT hardware & networking, Credit Suisse lifts its price target to $125 from $110. Arista Networks
The firm believes Arista’s technology advantage is allowing it to successfully disrupt chief rival Cisco Systems (CSCO) in the cloud networking space.
by Rob DeFrancesco, Thursday, February 16, 2017, 4:23 PM — TechStock Radar
Arista Networks Delivers Beat-&-Raise
(ANET, $100.17), a provider of cloud networking solutions, reports Q4 EPS of $1.04, 22 cents above the consensus estimate of 82 cents, on revenue of $328 million (+34% y/y/), topping the consensus of $315.2 million. Arista Networks
For Q1, the company’s revenue guidance range of $320 million to $330 million is considerably above the consensus of $304.8 million.
by Rob DeFrancesco, Thursday, February 16, 2017, 10:05 AM — TechStock Radar
Cisco's M&A Machine
UBS says management commentary from (CSCO, $33.67) suggests more M&A on the way. The company last night said it’s not ruling out any size deal. Also, M&A is not dependent on cash repatriation, according to CEO Chuck Robbins. Cisco has net cash of $36 billion. Cisco Systems
by Rob DeFrancesco, Thursday, February 16, 2017, 9:05 AM — TechStock Radar
Snap Sets IPO Range
(SNAP) set its IPO price range at $14 to $16 a share. At the high end, the valuation would be about $22.2 billion. Snap
For more on Snap, see the February 2017 issue of . Tech-Stock Prospector
by Rob DeFrancesco, Wednesday, February 15, 2017, 1:10 PM — TechStock Radar
Chart Watch: Salesforce
(CRM, $81.89) shares are trying to get through short-term resistance just over the $82 level. There’s additional resistance around $83.10 from July. Salesforce
The 50-day moving average is advancing from $74.66, on a path to cross over the 200-day moving average at $76.58.
by Rob DeFrancesco, Wednesday, February 15, 2017, 9:10 AM — TechStock Radar
Q4 Earnings Season Scoreboard
It has been a good Q4 earnings season so far when it comes to the bottom line. With 75% of the S&P 500 companies reporting, 75% have beaten the EPS consensus and 51% have beaten the revenue consensus, according to Schwab.
by Rob DeFrancesco, Tuesday, February 14, 2017, 4:10 PM — TechStock Radar
Apple Hits New All-Time High
(AAPL, $135.01) shares today hit a new all-time high at $135.09. Apple
Apple is a long-term holding in the Vulture Portfolio, added at $61.68 in May 2013. Tech-Stock Prospector
by Rob DeFrancesco, Tuesday, February 14, 2017, 12:39 PM — TechStock Radar
Chart Watch: Atlassian
Shares of (TEAM, $28.88) are sitting just below resistance at $29.40 from November after recovering from the December low of $23.80. The RSI is strong at 72.8. Atlassian
The 200-day moving average has a slight upward bias from $27.07, while the 50-day moving average—now at $26.29—has turned upward.
by Rob DeFrancesco, Tuesday, February 14, 2017, 9:05 AM — TechStock Radar
Stifel Bullish on CyberArk
Stifel starts (CYBR, $52.87) at ‘Buy’ with a price target of $62, calling the company the clear leader in the emerging market for privileged account security, a subsegment of the broader identity & access management (IAM) market. CyberArk Software
The firm says CyberArk is unique among security vendors because its solutions—unlike those that concentrate on threat prevention and mitigation—are focused on limiting the capacity for bad human actors (internal employees or external) to gain control of mission-critical resources.
Stifel sees CyberArk as a key enabler of the push toward IT security becoming more of a “least privilege/zero-trust” type of model.
by Rob DeFrancesco, Monday, February 13, 2017, 4:25 PM — TechStock Radar
A Record Close for Apple Shares
(AAPL, $133.29) shares today had a record high closing price, taking out the previous record of $133 from February 23, 2015. A new 52-week high was set at $133.82. Apple
The all-time high remains at $134.54 from April 2015.
Apple is a long-term holding in the Vulture Portfolio, added at $61.68 in May 2013. Tech-Stock Prospector
by Rob DeFrancesco, Monday, February 13, 2017, 11:15 AM — TechStock Radar
Chart Watch: Rapid7
Shares of security solutions vendor (RPD, $14.87) are up sharply for the second day in a row following the release of the company’s strong Q4 report (revenue +37%) last week. Rapid7
The stock this morning is rising 5.1% on top of Friday’s 12.6% gain. Now back above the 200-day moving average of $13.91, RPD shares may attempt a test of October resistance at $15.95.
A move above ~$15.30 would break the downtrend line from the 52-week high of $19.29 reached in August.
by Rob DeFrancesco, Monday, February 13, 2017, 9:02 AM — TechStock Radar
Goldman Ups Apple PT to $150
Goldman Sachs raises its (AAPL, $132.12) price target to $150 from $133 based on increased confidence about its outlook for the upcoming iPhone 8 demand cycle later this year. Apple
The firm believes the inclusion of 3D sensing functionality is increasingly likely in the next iPhone. The technology would enable augmented reality (AR), representing a “significant step-up in innovation” for the 10-year anniversary smartphone, says Goldman.
by Rob DeFrancesco, Friday, February 10, 2017, 4:02 PM — TechStock Radar
Chart Watch: ServiceNow
Shares of (NOW, $92.48) have returned to the high end of their recent range following a dip to the $88 level at the end of January. ServiceNow
The RSI is up to 72.5. After an extended period of sideways action, the 50-day moving average (at $82.26) is trending upward once again.
There’s short-term resistance at $92.98 (the all-time high was reached on January 26). Today’s intraday high was $92.82.
by Rob DeFrancesco, Friday, February 10, 2017, 11:27 AM — TechStock Radar
Piper Jaffray Remains Bullish on CyberArk
Piper Jaffray thinks 2017 operating margin guidance from (CYBR, $52.28) is likely conservative. That view is based on how operating margin played out in 2016. The firm raises its price target to $63 from $60. CyberArk Software
by Rob DeFrancesco, Friday, February 10, 2017, 9:05 AM — TechStock Radar
Canaccord Lifts NVIDIA PT to $130
Canaccord raises its (NVDA, $116.38) price target to $130 from $120 based on the thesis that new trends in deep learning, virtual/augmented reality and autonomous driving will catalyze new market growth over the longer term. NVIDIA
by Rob DeFrancesco, Thursday, February 09, 2017, 5:14 PM — TechStock Radar
Zendesk Shares Jump 15%
(ZEN, $28.32) today finished with a gain of 15.4% on heavy volume of 6.1 million shares, 5x average daily volume. The intraday high was $29.53. Zendesk
The provider of a cloud-based customer service platform last night issued bullish 2017 revenue guidance.
So far in 2017, Zendesk shares have advanced 33.5%. Zendesk is a holding in the Small-Cap Portfolio. Tech-Stock Prospector
by Rob DeFrancesco, Thursday, February 09, 2017, 12:01 PM — TechStock Radar
Chart Watch: Palo Alto Networks
(PANW, $155.18) shares continue to show solid upside momentum, with the RSI at 75.4. The stock is working to close the gap on the price chart at $158.32 from November. Palo Alto Networks
The 50-day moving average has turned upward from $135.59, while the 200-day moving average is trading sideways from $139.38.
by Rob DeFrancesco, Thursday, February 09, 2017, 9:03 AM — TechStock Radar
UBS Boosts Zendesk Target
UBS believes (ZEN, $24.53) is an undervalued growth story in the SaaS space. The company is expanding its product portfolio in the customer service segment and showing further enterprise success. Zendesk
Good progress is being made toward achieving the 2020 revenue goal of $1 billion, says the firm. UBS raises its price target to $36 from $33.
by Rob DeFrancesco, Wednesday, February 08, 2017, 4:33 PM — TechStock Radar
Zendesk Guides 2017 Above Consensus
(ZEN, $24.53) reports Q4 revenue growth of 41% and offers an optimistic outlook for 2017. Zendesk
In Q4, the top line came in at $88.6 million, above the consensus estimate of $87.3 million.
The company’s revenue guidance range for the year of $415 million to $425 million (growth of 35% at the midpoint) is above the consensus estimate of $410.3 million.
by Rob DeFrancesco, Wednesday, February 08, 2017, 11:04 AM — TechStock Radar
Canaccord Bullish on Twilio
Canaccord says (TWLO, $30.99) remains its favorite mid-cap growth pick, citing solid operating and financial metrics, including the potential for improving margins over the long run. The firm raises its price target to $40 from $35. Twilio
by Rob DeFrancesco, Wednesday, February 08, 2017, 9:09 AM — TechStock Radar
BofA/Merrill Adds Facebook to Focus List
BofA/Merrill adds (FB, $131.84) to its U.S. 1 List with a price target of $165, citing solid user and usage fundamentals. The firm sees the potential for earnings upside this year thanks to strong usage growth and favorable ad pricing trends. Facebook
by Rob DeFrancesco, Tuesday, February 07, 2017, 6:06 PM — TechStock Radar
Akamai Cloud Security Helps Power Growth
(AKAM, $71.12) reports Q4 EPS of 72 cents, four cents above the consensus estimate, on revenue of $616 million (+6% y/y), beating the consensus of $604.8 million. Akamai Technologies
Excluding the six Internet Platform customers (representing less than 10% of total revenue, vs. 16% in the year-ago period), Q4 revenue rose 14%.
Akamai’s Performance & Security unit (59% of total revenue) saw Q4 growth of 17%, with the Cloud Security segment expanding 41% to $102 million. The cloud security business is now on an annual revenue run rate of $400 million+.
For Q1, Akamai sees EPS of 66 cents to 69 cents (the consensus is 67 cents) on revenue of $596 million to $610 million, vs. the consensus of $602.9 million.
by Rob DeFrancesco, Tuesday, February 07, 2017, 10:26 AM — TechStock Radar
Chart Watch: Splunk
(SPLK, $61.14) shares have pushed through short-term resistance at $60.88. The RSI is up to 68. The next upside level to watch is $62.90 from November. Splunk
The 200-day moving average is trending upward from $57.29.
by Rob DeFrancesco, Tuesday, February 07, 2017, 9:03 AM — TechStock Radar
Canaccord Lifts Apple Target to $154
Canaccord Genuity raises its (AAPL, $130.29) price target to $154 from $142, saying it expects the impressive installed base to drive strong iPhone replacement sales in the next cycle. Apple
The firm believes Apple in 2017 will extend its leading share of the premium-tier smartphone market.
by Rob DeFrancesco, Monday, February 06, 2017, 3:01 PM — TechStock Radar
Chart Watch: CyberArk
After declining 20% from the November high of $56.25 to the December 22 low of $44.77, (CYBR, $54.07) shares have rebounded nearly 21%. The 200-day moving average is trending upward from $49.32. CyberArk Software
CyberArk reports Q4 results on Thursday.
by Rob DeFrancesco, Monday, February 06, 2017, 11:18 AM — TechStock Radar
Chart Watch: Tableau
If (DATA, $55.49) shares can close above Friday’s high of $57.30, that could set up a potential test of September resistance at $59.70. After Friday’s big jump, the stock is above its 200-day moving of $50.42. Tableau Software
by Rob DeFrancesco, Friday, February 03, 2017, 4:33 PM — TechStock Radar
Chart Watch: Marvell
Shares of chipmaker (MRVL, $15.72) today gained 2.1% on heavy volume and hit a new 52-week high at $15.76. So far this year, the stock is up 13.3%. Marvell Technology
The next key upside level to watch is resistance at $16.78 from February 2015.
by Rob DeFrancesco, Friday, February 03, 2017, 12:21 PM — TechStock Radar
Chart Watch: Twilio
After a period of consolidation in the upper $20s, (TWLO, $30.68) shares are attempting to advance out of the recent base, pushing above the 50-day moving average at $30.14. There is short-term resistance at $30.84. Twilio
by Rob DeFrancesco, Friday, February 03, 2017, 9:06 AM — TechStock Radar
JMP Boosts Tableau Software Target
JMP Securities boosts its (DATA, $48.21) price target to $65 from $58, calling out accelerating license growth as the main driver of the Q4 beat. The firm believes enterprise momentum is continuing to build. Business analytics is one of the largest areas of spending in enterprise IT, says JMP. Tableau Software
by Rob DeFrancesco, Thursday, February 02, 2017, 5:40 PM — TechStock Radar
Chart Watch: Salesforce
(CRM, $80.13) shares today reclaimed the $80 level on a closing basis, gaining 1.9% on heavy volume. The RSI is strong at 74.1. The 50-day moving average is now trending upward from $73.22. There is resistance at the November high of $80.37. Salesforce
by Rob DeFrancesco, Thursday, February 02, 2017, 2:42 PM — TechStock Radar
RBC Capital Ups NVIDIA Target
RBC Capital boosts its (NVDA, $115.26) price target to $124 from $115, saying total datacenter revenue growth this year could come in closer to 100%, well above the consensus estimate of +40%. NVIDIA
by Rob DeFrancesco, Thursday, February 02, 2017, 11:22 AM — TechStock Radar
A New High for Facebook
(FB, $133.45) shares this morning traded to a new all-time high at $134.73. Facebook
Facebook is a holding in the Vulture Portfolio, added in March 2014 at $59.35. Tech-Stock Prospector
by Rob DeFrancesco, Thursday, February 02, 2017, 9:05 AM — TechStock Radar
Stifel Lifts Facebook PT to $165
Stifel raises its (FB, $133.23) price target to $165 from $155 following a Q4 revenue & EPS beat. The firm says Facebook’s ad business maintained its impressive momentum, growing 53% despite a difficult comp. Facebook
Stifel expects continued growth in the core business along with ramping contributions from video ads, Instagram and messaging (Messenger & WhatsApp) to fuel above-market ad revenue growth for the next several years.
by Rob DeFrancesco, Wednesday, February 01, 2017, 4:17 PM — TechStock Radar
Apple Shares +6%, Hit New 52-Week High
(AAPL, $128.79) shares today closed up more than 6% on heavy volume. A new 52-week high was reached at $130.49. Apple
Apple is a long-term holding in the Vulture Portfolio, added in May 2013 at $61.68. Tech-Stock Prospector
by Rob DeFrancesco, Wednesday, February 01, 2017, 11:10 AM — TechStock Radar
Needham Reiterates AAPL PT of $150
Needham calls out excellent FQ1 (Dec.) results from (AAPL, $128.29), citing outstanding unit sales, higher iPhone ASPs and solid Services revenue growth. The firm maintains its price target of $150, saying it continues to view Apple’s ecosystem as a primary competitive advantage. Apple
by Rob DeFrancesco, Wednesday, February 01, 2017, 9:05 AM — TechStock Radar
Credit Suisse Remains Bullish on Apple
Credit Suisse reiterates its (AAPL, $121.35) price target of $150, saying its bullish thesis is intact after FQ1 (Dec.) results showed a return to growth for the iPhone and another strong performance from the Services business. The firm continues to look forward to the iPhone 8 super cycle. Apple