|
|
| January 2015 |
| Archives |
|
|
| |
| Friday, January 30, 2015, 5:29 PM — by Rob DeFrancesco, TechStock Radar |
| Gigamon Jumps 14% |
Gigamon (GIMO, $18.41) shares today surged 14.5% on heavy volume after the provider of networking visibility and control solutions reported Q4 EPS of 18 cents, 10 cents above the consensus estimate, on revenue of $51.3 million, easily beating the consensus of $42.9 million.
Gigamon shares have rebounded sharply from the all-time low of $9.95 reached in October.
We cover Gigamon’s turnaround in the January 2015 issue of Tech-Stock Prospector. Order the latest issue here for download to your Kindle or Kindle for iPad/iPhone reading app.
|
| |
| Friday, January 30, 2015, 12:12 PM — by Rob DeFrancesco, TechStock Radar |
| Chart Watch: NetSuite Dips |
Shares of cloud-based ERP software vendor NetSuite (N, $96.92) today are down more than 9% after the company on last night’s Q4 earnings call did not raise the 2015 revenue guidance range of $715 million to $725 million that was first offered during the Q3 call.
The consensus revenue estimate for this year is $722.9 million, with the Street-high estimate at $749.8 million.
The stock this morning dipped to $93.60, filling the gap on the price chart at $93.98 from October. The 200-day moving average stands at $91.05. The RSI is down to 30.2.
|
| |
| Friday, January 30, 2015, 11:17 AM — by Rob DeFrancesco, TechStock Radar |
| Deutsche Bank Lifts Google Target |
Deutsche Bank raises its Google (GOOGL, $532.87) price target to $625 from $615, saying some Q4 metrics point to stable growth in the core search business. Growth rates accelerated year over year for Websites revenue (ex-FX headwinds) and paid clicks.
In addition, management struck a more shareholder friendly tone around the pace of 2015 investments, stating that it plans to balance growth and spending, says the firm.
|
| |
| Friday, January 30, 2015, 10:03 AM — by Rob DeFrancesco, TechStock Radar |
| A Record High for Apple |
Apple (AAPL, $119.92) shares this morning hit a new all-time high at $120.
The forward P/E on the FY’15 (Sept.) consensus EPS estimate of $8.46 is 14.1.
Apple was added to the Tech-Stock Prospector Vulture Portfolio in May 2013 when the stock was trading at $61.68.
|
| |
| Friday, January 30, 2015, 9:08 AM — by Rob DeFrancesco, TechStock Radar |
| Stifel Hikes Netflix Target |
Stifel raises its Netflix (NFLX, $443.80) price target to $535 from $500 because it sees the company’s global expansion being completed over the next two years, a timetable that is much faster than investors had expected. The push across EMEA and Asia should bring streaming to roughly 200 countries by 2017.
|
| |
| Thursday, January 29, 2015, 5:53 PM — by Rob DeFrancesco, TechStock Radar |
| Marketo Breaks Out |
Shares of Marketo (MKTO, $35.30), a provider of cloud-based marketing automation solutions, today rose 6.1% and finally broke out of the trading range dating back to early September. Volume was above average and the highest in about six weeks.
The next important resistance levels to watch: $38.44 and $41.92 from March. The all-time high stands at $45 (from February).
|
| |
| Thursday, January 29, 2015, 1:10 PM — by Rob DeFrancesco, TechStock Radar |
| Chart Watch: Yahoo |
Yahoo (YHOO, $42.99) shares today are off 7.4%, nearly tracking the 9.4% drop in Alibaba (BABA, $89.15). The RSI has moved into oversold territory at 28.8. There is support at the 200-day moving average, which is trending upward from $40.91.
|
| |
| Thursday, January 29, 2015, 11:07 AM — by Rob DeFrancesco, TechStock Radar |
| Chart Watch: Splunk Below Recent Support |
Shares of Splunk (SPLK, $52.04) yesterday closed below the 200-day moving average of $54.23. The December low of $53.54 has also been taken out. The next support stands at $49.61 from October.
|
| |
| Thursday, January 29, 2015, 10:05 AM — by Rob DeFrancesco, TechStock Radar |
| Baird Boosts Facebook Target to $93 |
RW Baird boosts its Facebook (FB, $75.55) price target to $93 from $80 based on positive user growth, engagement trends and monetization efforts. The firm believes Facebook’s infrastructure investments are prudent at this point.
|
| |
| Thursday, January 29, 2015, 9:01 AM — by Rob DeFrancesco, TechStock Radar |
| Stifel Ups Facebook Target to $97 |
Stifel raises its Facebook (FB, $76.24) price target to $97 from $94 following the release of above-consensus Q4 results.
EPS of 54 cents beat the consensus estimate by six cents and revenue rose 49% to $3.85 billion, topping the consensus of $3.77 billion.
For 2015, Stifel looks for Facebook to benefit from increased rollout and advertiser adoption of video ads, as well as a ramp in Atlas and the Facebook Audience Network.
|
| |
| Wednesday, January 28, 2015, 4:51 PM — by Rob DeFrancesco, TechStock Radar |
| Facebook Q4 Mobile DAUs +34% |
Facebook (FB, $74.36 after hours, -2.4%) reports Q4 EPS of 54 cents, topping the consensus estimate by six cents, on revenue of $3.85 billion (+49% y/y), above the consensus of $3.77 billion.
Ad revenue rose 53% to $3.59 billion. Mobile ad revenue accounted for 69% of total ad revenue, up from 53% in the year-ago period.
Facebook now has 890 million daily active users (DAUs), +18% year over year. Mobile DAUs advanced 34% to 745 million.
|
| |
| Wednesday, January 28, 2015, 3:31 PM — by Rob DeFrancesco, TechStock Radar |
| Box Drops |
Shares of Box (BOX, $19.80) today are down 7% and have hit a new post-IPO low of $19.60.
The company went public last Friday at $14. The high of $24.73 was reached on the first day.
The stock is now trading below its opening price of $20.20.
For more on Box, see TechStock Radar--January 23, 2015.
|
| |
| Wednesday, January 28, 2015, 12:25 PM — by Rob DeFrancesco, TechStock Radar |
| Cantor Lifts Apple Target to $160 |
Cantor Fitzgerald lifts its Apple (AAPL, $117.17) price target to $160 from $143, raising its fiscal 2015 (Sept.) EPS estimate to $8.68 from $7.72.
The firm notes that Apple last night announced a more definitive April launch date for the Watch.
|
| |
| Wednesday, January 28, 2015, 11:09 AM — by Rob DeFrancesco, TechStock Radar |
| Sterne Agee Ups EA Target |
Sterne Agee raises its Electronic Arts (EA, $53.15) price target to $58 from $54. The firm believes EA still has room for operating margin expansion, saying 30% is achievable over the next three years (up from ~24% now and ~10% two years ago) because of the continued shift to digital (a benefit to gross margin), R&D costs remaining flattish and better marketing efficiencies (as games become live services in which customers are always engaged).
|
| |
| Wednesday, January 28, 2015, 10:14 AM — by Rob DeFrancesco, TechStock Radar |
| Electronic Arts Jumps 11% |
Stifel raises its Electronic Arts (EA, $53.85) price target to $59 from $53, saying game momentum on the next-gen consoles is strong, as nearly 60% of console revenue in the latest quarter was sourced from PS4 and Xbox One.
This morning, EA shares are up more than 11% and are trading at levels not seen since the spring of 2008.
EA was added to the Tech-Stock Prospector Vulture Portfolio when it was trading at $26.71.
|
| |
| Wednesday, January 28, 2015, 9:02 AM — by Rob DeFrancesco, TechStock Radar |
| Wall Street Hikes Apple Targets |
Here is a sampling of the revised Apple (AAPL, $117.90 pre market, +7.9%) price targets:
*Cantor to $160 from $143
*Barclays to $150 from $140
*Susquehanna to $145 from $135
*Evercore to $140 from $135
*JP Morgan to $140 from $112
*Bernstein to $135 from $122
*Goldman to $130 from $124
*BMO Capital to $130 from $123
*Jefferies to $124 from $120
|
| |
| Tuesday, January 27, 2015, 7:29 PM — by Rob DeFrancesco, TechStock Radar |
| Apple Delivers Huge iPhone Quarter |
Apple (AAPL, $115.41 after hours, +5.7%) delivered stunningly strong iPhone sales for the December quarter of 74.46 million units, well above the Wall Street estimate of 66.2 million units.
In fiscal Q1, revenue rose 29.5% to $74.6 billion, vs. the consensus of $67.7 billion. EPS of $3.06 beat the consensus by 46 cents.
Gross margin of 39.9% came in above the high end of the guidance range of 37.5% to 38.5%.
|
| |
| Tuesday, January 27, 2015, 7:15 PM — by Rob DeFrancesco, TechStock Radar |
| Yahoo Announces Spin-Off |
Yahoo (YHOO, $51.44 after hours, +7.1%) shares responded favorably after hours to the company’s announcement that it would spin off its 15% stake in Alibaba (BABA), worth around $40 billion, into a newly formed separate entity.
Following the distribution, Yahoo itself would be made up of the core business and the Yahoo Japan stake (35.5%).
The new company will assume no debt. Yahoo will retain its cash.
The transaction is expected to be completed in Q4 after the expiration of Yahoo’s one-year lock-up agreement on its Alibaba shares.
|
| |
| Tuesday, January 27, 2015, 3:32 PM — by Rob DeFrancesco, TechStock Radar |
| Eyes on Yahoo |
When Yahoo (YHOO, $47.74) reports Q4 results after the close, the main focus will be on the company’s plans for its Asian assets (it owns 15% of Alibaba and 35% of Yahoo Japan).
One idea is to split Yahoo into two in a tax-efficient manner, with one piece representing the core business and the other containing the Asian holdings. Activist investor Starboard Value is pushing for this outcome.
|
| |
| Tuesday, January 27, 2015, 12:12 PM — by Rob DeFrancesco, TechStock Radar |
| Morgan Stanley Bullish on Salesforce |
Morgan Stanley calls Salesforce (CRM, $57.72) a top software idea, saying the company is well positioned for positive secular trends across the cloud, IoTs and mobile.
The firm looks for sustainable top-line growth in the mid-20% range to open up a path to operating margin at 30%. Morgan Stanley maintains its price target of $80.
For more on Salesforce, see TechStock Radar--January 26, 2015.
|
| |
| Tuesday, January 27, 2015, 10:04 AM — by Rob DeFrancesco, TechStock Radar |
| Goldman Remains Negative on Microsoft |
Goldman Sachs reiterates its ‘Sell’ rating on Microsoft (MSFT, $42.54) and reduces its price target by $1 to $38 because the firm continues to see EPS pressure going forward.
Goldman views the streamlining of the company’s operations and subsequent cost reductions as bold (yet necessary) steps that will serve to offset the impact of Microsoft’s model shift.
However, the firm sees five major challenges for FY’15:
1-Negative estimate revisions
2-Gross margin pressure due to mix shift
3-Headwinds as ASPs and mix of PCs change
4-Likely pricing changes for Windows 10
5-Tough comps in commercial licensing
|
| |
| Tuesday, January 27, 2015, 9:04 AM — by Rob DeFrancesco, TechStock Radar |
| Nomura Downgrades Microsoft |
Nomura Securities downgrades Microsoft (MSFT, $42.99 pre market, -8.5%) to ‘Neutral’ with a price target of $50 (down from $56), reflecting less optimism about the pace of earnings growth during the transition of the business to the cloud.
After a 16-month period of multiple expansion for the shares, Nomura believes it’s time to move to the sidelines.
Underlying trends in Windows and Office suggest a more challenging balancing act ahead (at least through fiscal 2016), likely exacerbated by tougher comps for the next two to three quarters that had benefited from the PC refresh cycle associated with the end of support for Windows XP, according to the firm.
|
| |
| Tuesday, January 27, 2015, 9:01 AM — by Rob DeFrancesco, TechStock Radar |
| Citi Cuts Microsoft to 'Sell' |
Citi cuts Microsoft (MSFT, $43.05 pre market, -8.4%) to ‘Sell’ with a price target of $38 (down from $50), saying it is now evident that the Windows XP expiration provided a greater-than-expected boost to fiscal 2014 results, making for tough comps this fiscal year, according to the firm.
Earnings headwinds make it tough to support the stock price above $45 (~$3 EPS at 15x multiple), says Citi.
|
| |
| Monday, January 26, 2015, 5:10 PM — by Rob DeFrancesco, TechStock Radar |
| Microsoft Delivers Strong Cloud Growth |
In fiscal Q2 (Dec.), Microsoft (MSFT, $46.67) delivered cloud revenue growth of 114% year over year. Commercial cloud revenue (made up of Azure, Office 365 and Dynamics CRM Online) is now on an annualized run rate of $5 billion, up from $4.4 billion at the end of fiscal 2014.
|
| |
| Monday, January 26, 2015, 3:11 PM — by Rob DeFrancesco, TechStock Radar |
| RBC Capital Bullish on ServiceNow into Q4 Results |
RBC Capital is positive on ServiceNow (NOW, $67.86) going into the release of Q4 numbers after the close on Wednesday, saying the company is poised to deliver beat-and-raise results.
The consensus estimates for the December quarter: EPS of two cents on revenue of $193.7 million.
The firm expects ServiceNow to continue to expand its use cases beyond the core IT service management segment. RBC Capital keeps its price target at $80.
For more on ServiceNow, see TechStock Radar--January 23, 2015.
|
| |
| Monday, January 26, 2015, 11:03 AM — by Rob DeFrancesco, TechStock Radar |
| Piper Jaffray Looks Ahead on Apple |
Piper Jaffray raises its Apple (AAPL, $114.20) iPhone sales estimate for the December quarter to 65 million units from 61 million units.
But investor focus has already turned to the March quarter. The firm points out that during the past two years the average sequential decline in iPhone unit sales from the December quarter to the March quarter was 18%.
If that holds for this year, it would imply 53.3 million iPhones for the March quarter, or 56.8 million with additional expected channel fill, according to Piper Jaffray. Many Wall Street estimates for the current quarter are still down around 51 million units.
Piper Jaffray maintains its Apple price target of $135.
|
| |
| Monday, January 26, 2015, 10:03 AM — by Rob DeFrancesco, TechStock Radar |
| JMP: Differing Views on Fortinet & Qualys |
JMP Securities says its Fortinet (FTNT, $32.33) Q4 checks came back very positive.
But the firm downgrades Qualys (QLYS, $38.70), a provider of cloud-based enterprise security solutions, to ‘Market Perform’ because of valuation.
|
| |
| Monday, January 26, 2015, 9:04 AM — by Rob DeFrancesco, TechStock Radar |
| Cowen Bullish on Salesforce |
Cowen starts Salesforce (CRM, $58.62) at ‘Outperform’ with a price target of $73 based on the company’s ability to expand its cloud share of enterprise IT budgets. The firm looks for fiscal 2016 and fiscal 2017 billings growth of 20%.
|
| |
| Friday, January 23, 2015, 4:58 PM — by Rob DeFrancesco, TechStock Radar |
| Box IPO Surges 65% |
Box (BOX, $23.23), a provider of enterprise cloud storage and collaboration solutions, last night priced its IPO at $14.
The shares today opened for trading at $20.20, hit an intraday high of $24.73 and closed with a gain of nearly 66%.
Box serves 48% of the Fortune 500 and 22% of the Global 2000. There are 32 million registered users.
Revenue in fiscal 2014 (Jan.) rose 111% to $124.19 million. For the nine months ended October, revenue was up 80% to $153.8 million.
There are 116.44 million shares outstanding after the offering. The market cap stands at $2.7 billion.
|
| |
| Friday, January 23, 2015, 3:14 PM — by Rob DeFrancesco, TechStock Radar |
| Zillow Jumps 9% |
Shares of Zillow (Z, $107.31) today are surging more than 9% in heavy trading following speculation that regulators would soon approve the acquisition of Trulia (TRLA, $47.16). Shares of Trulia today are up 11.2%.
For more on the Zillow/Trulia deal, check out the January 2015 issue of Tech-Stock Prospector. Order the latest issue here for download to your Kindle or Kindle for iPad/iPhone reading app.
|
| |
| Friday, January 23, 2015, 12:02 PM — by Rob DeFrancesco, TechStock Radar |
| Chart Watch: Marketo |
Shares of Marketo (MKTO, $33.78), a provider of cloud-based marketing automation solutions, have traded sideways since September.
The stock has rebounded from its December low of $28.66 and is back near the high end of the range.
There is resistance at $34.45 from December, with key resistance at $34.71 from October.
|
| |
| Friday, January 23, 2015, 10:10 AM — by Rob DeFrancesco, TechStock Radar |
| BMO Capital Positive on ServiceNow |
BMO Capital starts coverage of ServiceNow (NOW, $68.62) at ‘Outperform’ with a price target of $77 because it is positive on the company’s outlook as a category leader in IT service management and cautiously optimistic when it comes to the incremental growth prospects in other areas--including enterprise service management and IT operations management.
The firm believes ServiceNow’s service model is applicable across a number of underserved use cases, resulting in an expanding addressable market.
|
| |
| Friday, January 23, 2015, 9:14 AM — by Rob DeFrancesco, TechStock Radar |
| Cowen Bullish on Workday |
Cowen starts Workday (WDAY, $81.40) at ‘Outperform’ with a price target of $99 based on the enterprise cloud-software provider’s long-term growth outlook and ability to continue to take market share from legacy vendors.
|
| |
| Thursday, January 22, 2015, 3:02 PM — by Rob DeFrancesco, TechStock Radar |
| Electronic Arts Nears Long-Term Resistance |
Shares of Electronic Arts (EA, $49.20) today hit a new multi-year high at $49.27. The next resistance levels to watch: $50.10 from May 2008 and $54.81 from the prior month.
There is stronger resistance at $61.62 from September 2007, and generally heavy resistance in the low-$60s going all the way back to the summer and fall of 2005.
|
| |
| Thursday, January 22, 2015, 11:16 AM — by Rob DeFrancesco, TechStock Radar |
| Google Rebounds |
The Google (GOOGL, $530.17) price chart is starting to look more encouraging after the stock’s two recent rebounds from below the $500 level.
The shares today crossed above the 50-day moving average at $529.97. There is short-term resistance at $538.40 and closer to $544.
|
| |
| Thursday, January 22, 2015, 10:05 AM — by Rob DeFrancesco, TechStock Radar |
| Piper Jaffray Boosts Cisco Target |
Piper Jaffray raises its Cisco Systems (CSCO, $27.33) price target to $33 from $26 following a positive 2015 survey of CIOs indicating increased budgets for switching, routing, WLANs and security. The firm believes Cisco is well positioned to benefit from this planned spending boost.
|
| |
| Thursday, January 22, 2015, 9:06 AM — by Rob DeFrancesco, TechStock Radar |
| Pivotal Research Bullish on Netflix |
Pivotal Research starts coverage of Netflix (NFLX, $409.28) at ‘Buy’ with a price target of $550, saying the company’s increasing size, scale and ability to create substantial quantities of original programming are key differentiators and drivers of future profitability.
The firm says Netflix may have already won the global OTT battle. Pivotal projects Netflix will hit roughly 129 million worldwide paying streaming subs by 2021, vs. 55 million at the end of 2014. The 2021 EPS forecast is ~$35.
|
| |
| Wednesday, January 21, 2015, 11:06 AM — by Rob DeFrancesco, TechStock Radar |
| Credit Suisse Sets $30 PT for Paycom |
Credit Suisse starts Paycom Software (PAYC, $24.05), a provider of payroll/HCM solutions delivered via the cloud, at ‘Outperform’ with a price target of $30.
The firm sees the following significant competitive advantages for the company:
1-Comprehensive SaaS-based HCM suite
2-Single database architecture
3-Real-time, actionable analytics
Credit Suisse says Paycom delivers a simple and uniform user experience, while at the same time eliminating data integrity issues associated with the maintenance of multiple databases.
|
| |
| Wednesday, January 21, 2015, 10:01 AM — by Rob DeFrancesco, TechStock Radar |
| Workday to Germany |
Germany is the next new territory for Workday (WDAY, $80.15), giving the cloud-software company a direct presence in key competitor SAP’s core geography.
The company’s services partners (including Accenture, Deloitte, PwC, H-P and IBM) have already established Workday deployment practices in Germany.
Workday now has seven regional offices across Europe.
|
| |
| Wednesday, January 21, 2015, 9:02 AM — by Rob DeFrancesco, TechStock Radar |
| Netflix Jumps on Strong Subscriber Adds |
Shares of Netflix (NFLX, $415.50 pre market, +19.1%) this morning are surging 19% in pre-market trading following last night’s strong Q4 report: EPS of 72 cents topped the consensus estimate by 28 cents on revenue growth of 26%.
Domestic subs on the streaming video service rose 1.9 million, while 2.43 million streaming subs were added on the international side.
|
| |
| Tuesday, January 20, 2015, 1:49 PM — by Rob DeFrancesco, TechStock Radar |
| Orbitz Pops on Buyout Speculation |
Shares of Orbitz (OWW, $10.23) this afternoon have jumped more than 11% on speculation that the online travel company is exploring a sale.
Orbitz is shopping itself to private equity and strategic buyers, according to Bloomberg.
|
| |
| Tuesday, January 20, 2015, 10:13 AM — by Rob DeFrancesco, TechStock Radar |
| Chart Watch: Alibaba |
Shares of Alibaba (BABA, $98.79) are trying to stabilize after hitting a low of $95.52 on Friday, a drop of 20% from the post-IPO high of $120 from the middle of November.
The 50-day moving average has started to trend downward from $107.55.
|
| |
| Tuesday, January 20, 2015, 9:05 AM — by Rob DeFrancesco, TechStock Radar |
| Stephens Boosts Palo Alto Networks Target |
Stephens raises its Palo Alto Networks (PANW, $125.01) price target to $165 from $130 based on the growth potential for the new Traps endpoint protection offering.
|
| |
| Friday, January 16, 2015, 3:14 PM — by Rob DeFrancesco, TechStock Radar |
| Chart Watch: Electronic Arts |
After gaining 105% last year, shares of videogame software giant Electronic Arts (EA, $47.67) so far in 2015 are holding up relatively well, managing to stay above the 50-day moving average at $45.06.
There is short-term resistance at $48.25 and support at $45.21.
|
| |
| Friday, January 16, 2015, 11:07 AM — by Rob DeFrancesco, TechStock Radar |
| RBC Capital Upgrades TubeMogul |
RBC Capital upgrades TubeMogul (TUBE, $16.37), provider of a digital video ad platform, to ‘Outperform’ with a price target of $21 following the recent sharp pullback.
From the post-IPO high of $23.83 on December 24, TubeMogul shares dropped 34% to yesterday’s low of $15.65. The stock traded as low as $10.53 as recently as early October.
The firm calls TubeMogul a best-in-class video demand-side platform.
|
| |
| Friday, January 16, 2015, 10:03 AM — by Rob DeFrancesco, TechStock Radar |
| Northland Ups Cisco Target to $32 |
Northland Capital raises its Cisco Systems (CSCO, $27.35) price target to $32 from $28, saying it has rising comfort with the company’s near-term and long-term positioning. For 2015, the firm expects upward earnings revisions and valuation expansion.
|
| |
| Friday, January 16, 2015, 9:03 AM — by Rob DeFrancesco, TechStock Radar |
| Cowen Upgrades Netflix |
Cowen upgrades Netflix (NFLX, $323.76) to ‘Outperform’ with a price target of $382 (up from $360) based on improving user metrics (a survey of 1,000 people in the U.S. revealed rising time spent, tenure and pricing power) and accelerating original content in 2015.
|
| |
| Thursday, January 15, 2015, 3:46 PM — by Rob DeFrancesco, TechStock Radar |
| Can Yelp Hold Key Support Levels? |
Shares of Yelp (YELP, $50.08) today are down 4% (on lower-than-normal volume).
For now, the 52-week low of $49.11 from May and the December low of $49.17 are holding.
If these lows were to fail, there is support at $46.96 from August 2013. Also from August 2013, there is a gap on the price chart that would be filled at $42.50.
|
| |
| Thursday, January 15, 2015, 12:05 PM — by Rob DeFrancesco, TechStock Radar |
| Dougherty Ups Palo Alto Networks Target |
Dougherty & Co. raises its Palo Alto Networks (PANW, $123.42) price target to $150 from $130 based on the company’s ability to continue to drive share gains in IT security thanks to its leading technology.
The firm points to better-than-expected activity levels for the new Traps offering covering endpoint protection, saying it uncovered multiple proof of concept opportunities across the retail and financial services verticals. In addition, Traps is driving new customer engagements, according to Dougherty.
|
| |
| Thursday, January 15, 2015, 11:20 AM — by Rob DeFrancesco, TechStock Radar |
| Chart Watch: Apple |
Apple (AAPL,
$107.77) shares since the November high have put in a series of lower
highs (the last one at $113.25 from last week), not the most encouraging sign.
The stock is now
back below its 50-day moving average, which is in the process of
leveling out at $112.12. There is short-term support at $104.63. The
200-day moving average is rising from $97.56.
|
| |
| Thursday, January 15, 2015, 9:02 AM — by Rob DeFrancesco, TechStock Radar |
| Mizuho Downgrades Apple |
Mizuho Securities downgrades Apple (AAPL, $109.80) to ‘Hold’ with a price target of $115 because it sees the shares now at a balanced risk/reward level.
The firm is concerned about iPhone sales growth in the back half of the calendar year and sees the potential for disappointment in Apple Watch sales.
|
| |
| Wednesday, January 14, 2015, 12:16 PM — by Rob DeFrancesco, TechStock Radar |
| Stifel Upgrades Netflix |
Stifel upgrades Netflix (NFLX, $323.13) to ‘Buy’ with a price target of $380, saying it believes the shares in the low-$300 range provide a compelling risk/reward balance given the strong content cycle, reset expectations following a few quarters of lower-than-expected subscriber net adds and recent/upcoming international launches.
Stifel sees downside risk to the $290-$300 level.
|
| |
| Wednesday, January 14, 2015, 10:03 AM — by Rob DeFrancesco, TechStock Radar |
| Credit Suisse Ups Facebook Target to $102 |
Credit Suisse raises its Facebook (FB, $76.82) price target to $102 from $88 after rolling forward to 2015 estimates and including a contribution from the new mobile ad network.
The firm expects Facebook to drive revenue growth without a material lift in ad loads and believes Wall Street models are too conservative, underestimating the long-term monetization potential of upcoming products.
|
| |
| Wednesday, January 14, 2015, 9:02 AM — by Rob DeFrancesco, TechStock Radar |
| OpCo Lifts Facebook Target |
OpCo raises its Facebook (FB,$76.45) price target to $100 from $88 based on expectations for a strong Q4, driven by improved engagement and strong monetization.
|
| |
| Tuesday, January 13, 2015, 4:27 PM — by Rob DeFrancesco, TechStock Radar |
| GoPro Drops 12% on Competitive Threat |
Shares of GoPro (GPRO, $49.87) today fell more than 12% in heavy trading (2.2x average daily volume) on concerns about Apple (AAPL, $110.22) receiving a patent for a remote-controlled camera.
No one wants to face new competition from the behemoth that is Apple.
Dougherty & Co. envisions a scenario where the Apple Watch would be deployed as a remote control for users wanting to record from their iPhones or iPads.
In the October 2014 issue of Tech-Stock Prospector (TSP #152), we said GoPro shares were expensive (and likely to fall) when they were trading at just over the $90 level. Today’s low was $48.23.
|
| |
| Tuesday, January 13, 2015, 3:25 PM — by Rob DeFrancesco, TechStock Radar |
| Summit Bullish on Proofpoint |
Summit Research starts Proofpoint (PFPT, $49.84), a provider of cybersecurity solutions, at ‘Buy’ with a price target of $58 based on the company’s strong competitive position in the targeted attack segment.
For 2015, the consensus revenue estimate of $242 million indicates growth of nearly 26%.
Proofpoint is expected to have delivered 2014 revenue of $192.2 million (growth of 39.4%). The company reports Q4 results on January 29.
|
| |
| Tuesday, January 13, 2015, 12:03 PM — by Rob DeFrancesco, TechStock Radar |
| Canaccord Ups iPhone Sales Estimate |
Canaccord Genuity raises its Apple (AAPL, $111.62) iPhone sales estimate for the December quarter to 68 million units from 65 million units following a survey of the U.S. wireless market.
The firm says it research indicates the iPhone 6 and 6 Plus over the last month were by far the top selling smartphones at all four Tier-1 U.S. carriers.
Canaccord maintains its price target of $135.
|
| |
| Tuesday, January 13, 2015, 11:17 AM — by Rob DeFrancesco, TechStock Radar |
| Pacific Crest Downgrades H-P |
Pacific Crest downgrades Hewlett-Packard (HPQ, $40.61) to ‘Sector Perform’ based on valuation and increasing competitive risks from hyper-convergence and new data stores.
|
| |
| Tuesday, January 13, 2015, 10:09 AM — by Rob DeFrancesco, TechStock Radar |
| RBC Capital Bullish on HomeAway |
RBC Capital starts HomeAway (AWAY, $27.30) at ‘Outperform’ with a price target of $35, saying the company remains a leader in the fragmented online travel category. The firm sees HomeAway as a plausible takeover candidate.
The risk/reward balance for the stock has improved following the recent pullback, says RBC Capital.
For more on HomeAway, see TechStock Radar--Nov. 10, 2014.
|
| |
| Tuesday, January 13, 2015, 9:26 AM — by Rob DeFrancesco, TechStock Radar |
| Credit Suisse Upgrades Apple |
Credit Suisse upgrades Apple (AAPL, $109.25) to ‘Outperform’ with a price target of $130 (up from $110) based on a solid and sustainable iPhone volume base, gross margin improvement, an expanding capital return program and EPS momentum.
|
| |
| Monday, January 12, 2015, 3:07 PM — by Rob DeFrancesco, TechStock Radar |
| Cowen Names LinkedIn a Top Pick |
Cowen names LinkedIn (LNKD, $222.29) a top 2015 Internet Pick and raises its price target to $260 from $253, with the positive stance based mainly on improved user engagement and future growth associated with the new Sales Navigator product.
|
| |
| Monday, January 12, 2015, 11:01 AM — by Rob DeFrancesco, TechStock Radar |
| SanDisk Slides on Trimmed Outlook |
Shares of SanDisk (SNDK, $85.38), a provider of flash storage solutions, this morning are down more than 12% after the company issued a negative Q4 pre-announcement: revenue is expected to come in at $1.73 billion, below the consensus estimate of $1.83 billion (previous guidance was $1.8 billion to $1.85 billion).
The firm blames weaker-than-expected sales of retail and iNAND (embedded) products. Gross margin is expected to be ~45%, below the previous guidance range of 47% to 49%.
|
| |
| Monday, January 12, 2015, 10:09 AM — by Rob DeFrancesco, TechStock Radar |
| OTR Global Turns Positive on VMware |
OTR Global upgrades VMware (VMW, $81.32) to ‘Positive’ after checks show increased enterprise license agreement (ELA) activity in Q4.
|
| |
| Monday, January 12, 2015, 9:04 AM — by Rob DeFrancesco, TechStock Radar |
| Cowen: Facebook a 2015 Top Pick |
Cowen names Facebook (FB, $77.74) a Top 2015 Internet Pick and raises its price target to $91 from $86, saying the company is best positioned to benefit from the key growth segments: social, video and mobile.
The firm sees Facebook’s scale and ad targeting capabilities as core advantages, helping drive worldwide digital ad share to around 17% by 2019 from 8% last year, yielding a revenue CAGR of 28% for this period.
|
| |
| Friday, January 9, 2015, 12:02 PM — by Rob DeFrancesco, TechStock Radar |
| Chart Watch: Nimble Storage |
Shares of Nimble Storage (NMBL, $28.46) today are rallying 4.7% on active volume, pushing off of this week’s low of $25.55 and through the 200-day moving average at $27.41.
Also, the 50-day moving average at $27.44 has crossed above the 200-day average.
There is short-term resistance at $30.
|
| |
| Friday, January 9, 2015, 10:02 AM — by Rob DeFrancesco, TechStock Radar |
| Yelp Snags Upgrade at BofA/Merrill |
BofA/Merrill upgrades Yelp (YELP, $56.20) to ‘Buy’ with a price target of $70 (down from $82 previously), saying the valuation is now more compelling after the stock last year suffered multiple compression.
The firm looks for 2015/2016 revenue growth and margin expansion at Yelp, which it calls a local category leader, boasting a healthy position on mobile, enviable engagement trends and strong viral attributes.
Yelp shares this morning are up 4.4%.
|
| |
| Friday, January 9, 2015, 9:07 AM — by Rob DeFrancesco, TechStock Radar |
| Box Moves Closer to IPO |
Cloud storage provider Box (BOX) finally set its IPO price range at $11 to $13 a share. The deal is expected to be priced later this month.
There will be 119.47 million shares outstanding after the offering. At the high end of the range, Box would be valued at $1.55 billion.
For the nine months ended October, Box’s revenue rose 80% to $153.8 million.
|
| |
| Thursday, January 8, 2015, 3:08 PM — by Rob DeFrancesco, TechStock Radar |
| Rocket Fuel Gets Some Investor Attention |
Shares of ad-tech firm Rocket Fuel (FUEL, $16.07) today are advancing 2.9% after London-based M&G Investment Management discloses an ownership stake of 10.6%. The money manager holds 4.38 million shares.
|
| |
| Thursday, January 8, 2015, 11:33 AM — by Rob DeFrancesco, TechStock Radar |
| UBS Turns Cautious on SAP |
UBS downgrades software giant SAP (SAP, $66.18) to ‘Neutral’ following a Q4 customer survey indicating weaker than expected demand. The firm looks for SAP shares to be range bound ahead of sustainable margin expansion.
|
| |
| Thursday, January 8, 2015, 10:27 AM — by Rob DeFrancesco, TechStock Radar |
| Traders Bid Up Marvell |
Marvell Technology (MRVL, $15.81) shares this morning are seeing follow-on buying, gaining 5.1% and pushing through short-term resistance. The next upside level to watch is $16.09.
|
| |
| Thursday, January 8, 2015, 9:11 AM — by Rob DeFrancesco, TechStock Radar |
| Stifel Downgrades TripAdvisor |
Stifel downgrades TripAdvisor (TRIP, $70.84) to ‘Hold’ based on a lack of near-term catalysts, delays in launching partnerships associated with the Instant Booking feature and increased marketing spending.
|
| |
| Wednesday, January 7, 2015, 4:05 PM — by Rob DeFrancesco, TechStock Radar |
| Chart Watch: Marvell |
Shares of chipmaker Marvell Technology (MRVL, $15.04) today rose 1.45% on heavy volume (1.6x average daily volume), continuing to push off of the 200-day moving average at $14.18.
There is short-term resistance from December at $15.28. After that, there is resistance at $16.09 from early June.
The 50-day moving average of $13.96 is on the rise and approaching an upside crossover of the 200-day moving average.
|
| |
| Wednesday, January 7, 2015, 11:28 AM — by Rob DeFrancesco, TechStock Radar |
| Juniper Pops on Takeover Chatter |
Chatter about Juniper Networks (JNPR, $22.33) being an M&A target (potentially for IBM) this morning has the stock up 2%. There is active volume in the February 2015 $23, $24 and $25 calls.
|
| |
| Wednesday, January 7, 2015, 10:23 AM — by Rob DeFrancesco, TechStock Radar |
| Netflix a Top 2015 Pick at Morgan Stanley |
Morgan Stanley names Netflix (NFLX, $326.16) a top pick for 2015 with a price target of $425.
With expectations reset, the firm believes Netflix shares now offer a compelling valuation. Morgan Stanley sees the company benefiting from set-top integration and more original programming.
|
| |
| Wednesday, January 7, 2015, 9:11 AM — by Rob DeFrancesco, TechStock Radar |
| FireEye a Top Security Pick at BofA/Merrill |
BofA/Merrill names FireEye (FEYE, $29.78) a top security pick for 2015 with a price target of $44. In a robust security spending environment, the firm looks for FireEye to deliver above-industry revenue and billings growth. Cash burn is expected to slow in 2015 and 2016, leading to positive free cash flow in 2017.
|
| |
| Tuesday, January 6, 2015, 4:30 PM — by Rob DeFrancesco, TechStock Radar |
| Chart Watch: Splunk |
Shares of Splunk (SPLK, $55.78) today dipped to $53.78, but were able to hold the December 16 low of $53.54. The stock finished the session off 1.8% on active volume, but rebounded enough to close above the 200-day moving average, which is trending downward from $55.17. Splunk remains below the 50-day moving average at $62.94.
|
| |
| Tuesday, January 6, 2015, 11:18 AM — by Rob DeFrancesco, TechStock Radar |
| Barclays Downgrades NetSuite |
Barclays cuts NetSuite (N, $103.99) a provider of cloud-based ERP solutions, to ‘Equal Weight’ based on valuation. The firm remains positive on the company’s fundamentals, but calls the risk/reward balance for the stock less compelling at these levels.
|
| |
| Tuesday, January 6, 2015, 10:15 AM — by Rob DeFrancesco, TechStock Radar |
| RBC Capital Bullish on Palo Alto Networks |
RBC Capital initiates coverage of Palo Alto Networks (PANW, $123.61) at ‘Outperform’ with a price target of $145, saying the company remains well positioned to benefit from the growing emphasis on next-gen security solutions after all of the recent well-publicized breaches.
The firm looks for Palo Alto Networks to continue to displace legacy competitors and successfully cross-sell into its customer base.
|
| |
| Tuesday, January 6, 2015, 9:03 AM — by Rob DeFrancesco, TechStock Radar |
| Verizon Looking at AOL? |
Verizon Communications (VZ) has approached AOL (AOL, $46.47 pre market, +3.8%) about a possible acquisition or joint venture, according to Bloomberg.
Verizon is said to be mainly interested in AOL’s programmatic ad technology. No formal proposal has been made to AOL, according to the report.
|
| |
| Monday, January 5, 2015, 3:07 PM — by Rob DeFrancesco, TechStock Radar |
| Chart Watch: Zillow |
Shares of Zillow (Z, $96.57) today are getting hit, falling nearly 7% on active volume. The stock is approaching the November 6 low of $94.23. The RSI is on the decline from 30.8. The 200-day moving average is trading sideways from $117.51.
|
| |
| Monday, January 5, 2015, 10:21 AM — by Rob DeFrancesco, TechStock Radar |
| Global Equities Bullish on Apple Watch |
Global Equities raises its Apple (AAPL, $107.77) price target to $150 from $142 based on a bullish outlook for the upcoming Watch.
For calendar 2015, the firm is forecasting Apple Watch unit sales of 40 million to 42 million, with 8 million to 10 million units expected to be sold in the full-debut June quarter.
Global Equities looks for strong demand for the Watch to come from the huge installed base of iPhone users.
|
| |
| Monday, January 5, 2015, 9:05 AM — by Rob DeFrancesco, TechStock Radar |
| Mizuho Positive on Salesforce |
Mizuho initiates coverage of Salesforce (CRM, $59.24) at ‘Buy’ with a price target of $70 because it expects the cloud-software leader to continue to consolidate its position in the enterprise applications space. The firm points out that Salesforce now boasts a large installed base of customers likely to adopt the company’s newer solutions more quickly.
|
| |
| Friday, January 2, 2015, 3:14 PM — by Rob DeFrancesco, TechStock Radar |
| New Relic Shows Strength |
Over the past several sessions, shares of New Relic (NEWR, $36.01), a provider of cloud-based software analytics solutions, have rebounded from the post-IPO low of $30. On Monday, the stock reached a new post-IPO high of $37.
Last month, the company went public at $23 and opened for trading at $30.16.
For more on New Relic, see TechStock Radar--Dec. 12, 2014.
|
| |
| Friday, January 2, 2015, 11:02 AM — by Rob DeFrancesco, TechStock Radar |
| Qorvo Debuts |
Today is the first session of trading for shares of Qorvo (QRVO, $68.31), the company created out of the merger of two wireless chipmakers: RF Micro Devices and TriQuint Semiconductor. Former shareholders of these two companies each own about half of Qorvo.
|
| |
| Friday, January 2, 2015, 9:15 AM — by Rob DeFrancesco, TechStock Radar |
| Chart Watch: VMware |
While shares of VMware (VMW, $82.52) have rallied off the December low of $75.85, they remain well below the 52-week high of $112.89.
There is resistance at the 50-day moving average of $83.66, then $85.27 (December) and $89 (November). The 200-day moving average is trending downward from $93.93.
|
