|
|
| October 2014 |
| Archives |
|
|
| |
| Friday, October 31, 2014, 2:09 PM — by Rob DeFrancesco, TechStock Radar |
| MKM Partners Still Positive on Twitter |
MKM Partners remains bullish on Twitter (TWTR, $41.62), saying Q4 guidance looks conservative.
The firm calls out Twitter as having the best revenue growth and margin expansion potential among the Internet names. The 2015 consensus revenue growth estimate is 67.3%.
Twitter shares recovered from yesterday’s dip to $39.94, but today are underperforming, trading in the red.
|
| |
| Friday, October 31, 2014, 10:20 AM — by Rob DeFrancesco, TechStock Radar |
| Electronic Arts Hits Multi-Year High |
Shares of Electronic Arts (EA, $41.01) this morning are up nearly 3% and have hit a new multi-year high at $41.18.
The next significant resistance--from September 2008--is around $50, with more minor resistance at $45.10.
|
| |
| Friday, October 31, 2014, 9:24 AM — by Rob DeFrancesco, TechStock Radar |
| RBC Capital Lifts LinkedIn Target |
RBC Capital lifts its LinkedIn (LNKD, $202.90) price target to $245 from $235 following the release of strong Q3 results.
The firm says LinkedIn showed consistent revenue growth across all three units, solid overall user & engagement growth, a big jump in the number of enterprise customers (+2,200 net adds, vs. 1,700 in the year-ago quarter) and pricing power via a future price increase for Talent Solutions.
|
| |
| Thursday, October 30, 2014, 5:03 PM — by Rob DeFrancesco, TechStock Radar |
| LinkedIn Q3 Results Beat Expectations |
LinkedIn (LNKD, $202.90) reports Q3 EPS of 52 cents, beating the consensus estimate by five cents.
Revenue rose 45% to $568 million, above the consensus of $557.5 million and the high end of the guidance range of $543 million to $547 million.
Revenue growth by segment:
*Talent Solutions revenue +45%
*Marketing Solutions revenue +45%
*Premium Subscription revenue +43%
For Q4, LinkedIn sees EPS of 49 cents (the consensus is 52 cents) on revenue of $600 million to $605 million (the consensus is $611.5 million).
|
| |
| Thursday, October 30, 2014, 10:55 AM — by Rob DeFrancesco, TechStock Radar |
| Akamai +3% on Strong Q3 Numbers |
Shares of Akamai Technologies (AKAM, $58.28) this morning are up more than 3% following last night’s strong Q3 earnings report: EPS of 62 cents beat the consensus estimate by three cents (excluding a one-time benefit of two cents) and revenue rose 26% to $498 million, above the consensus estimate of $490.8 million.
The company’s Media Delivery unit saw revenue growth of 22%; video delivery, social media and gaming were the big traffic drivers in the latest the quarter.
For Q4, Akamai sees EPS of 61 cents to 66 cents (the consensus is 62 cents) on revenue of $515 million to $535 million (the consensus is $531.5 million).
|
| |
| Thursday, October 30, 2014, 9:01 AM — by Rob DeFrancesco, TechStock Radar |
| Chart Watch: Yelp |
Shares of Yelp (YELP, $56.68) yesterday took out the recent low, indicating there could be more downside pressure. The RSI stands at 33.6. The 50-day moving average has turned downward from $73.03. There is short-term support around $52.50.
|
| |
| Wednesday, October 29, 2014, 3:34 PM — by Rob DeFrancesco, TechStock Radar |
| SunTrust Bullish on Alibaba |
SunTrust starts coverage of Alibaba (BABA, $98.84) at ‘Buy’ and sets a year-end 2015 price target of $120, calling the company “one of the rare and valuable global Internet platforms with a powerful ecosystem.”
The firm’s top reasons why it likes Alibaba:
1-Large and under-penetrated addressable market in China
2-Dominant position in C2C and B2B Chinese e-commerce
3-The #1 B2C Chinese e-commerce platform
4-Substantial international opportunity
5-Significant economic interest in the Alipay payments platform
6-A $10-billion investment portfolio in other companies
7-Strong financial profile
8-Attractive valuation
|
| |
| Wednesday, October 29, 2014, 12:08 PM — by Rob DeFrancesco, TechStock Radar |
| Canaccord Ups Ultimate Target |
Canaccord raises its price target on Ultimate Software (ULTI, $141.97), a provider of cloud-based HCM solutions, to $175 from $155 following last night’s Q3 report.
The firm views Ultimate as one of the high-quality names in cloud software.
In Q3, the company came in with EPS of 50 cents, one cent above the consensus estimate, on revenue of $127.4 million (+26% y/y), slightly above the consensus of $127.1 million.
For 2015, Ultimate’s preliminary outlook calls for revenue growth of 22%, recurring revenue growth of 23% and operating margin “in excess of” 20%.
|
| |
| Wednesday, October 29, 2014, 11:25 AM — by Rob DeFrancesco, TechStock Radar |
| Deutsche Bank Maintains Facebook Target |
Deutsche Bank is all for today’s Facebook (FB, $75.96) sell-off, calling it “appropriate” given the reduced growth expectations and higher expenses. But the firm remains positive for the long term and advises adding to positions on weakness over the short term. Deutsche Bank maintains its 'Buy' rating and price target of $90.
|
| |
| Wednesday, October 29, 2014, 10:35 AM — by Rob DeFrancesco, TechStock Radar |
| Apple Estimates Still on the Rise |
Apple (AAPL, $107.05) shares continue to advance (this morning hitting a new all-time high at $107.23) along with earnings estimates.
The fiscal 2015 (Sept.) consensus EPS estimate is now up to $7.65, vs. $7.32 a week ago, $7.20 a month ago and $7.05 two months ago. The Street-high estimate is $8.37.
|
| |
| Wednesday, October 29, 2014, 9:05 AM — by Rob DeFrancesco, TechStock Radar |
| Piper Jaffray Remains Positive on Facebook |
Piper Jaffray remains positive on Facebook (FB, $76.05 pre market, -5.8%) despite the reduced Q4 revenue growth guidance (+40% to +47%) and increased expense outlook for 2015 (it will be “a significant investment year”).
The firm maintains its price target of $82, saying it continues to see multiple growth catalysts--including video, Atlas, Audience Network, WhatsApp and Instagram.
|
| |
| Tuesday, October 28, 2014, 4:29 PM — by Rob DeFrancesco, TechStock Radar |
| Facebook Tops Q3 Estimates |
Facebook (FB, $80.77) reports Q3 EPS of 43 cents, three cents above the consensus estimate, on revenue of $3.2 billion (+58.9% year over year), vs. the consensus of $3.11 billion.
Ad revenue rose 64% to $2.96 billion. Mobile ad revenue accounted for 66% of total ad revenue, up from 49% in the year-ago period.
The company now has 864 million DAUs, up 19% from the year-ago level. Mobile DAUs rose 39% to 703 million.
MAUs were up 14% to 1.35 billion, with mobile MAUs advancing 29% to 1.12 billion.
|
| |
| Tuesday, October 28, 2014, 10:03 AM — by Rob DeFrancesco, TechStock Radar |
| BofA/Merrill Turns Cautious on Twitter |
BofA/Merrill downgrades Twitter (TWTR, $42.19) to ‘Neutral’ and cuts its price target to $50 from $60 based on the reduced Q4 ad growth outlook. The firm also notes that Twitter’s guidance implies limited Q4 growth in MAUs. Looking out over the longer term, BofA/Merrill now has less confidence in the expected ramp in MAUs.
|
| |
| Tuesday, October 28, 2014, 9:05 AM — by Rob DeFrancesco, TechStock Radar |
| Nomura Downgrades Twitter |
Nomura Securities downgrades Twitter (TWTR, $42.61 pre market, -12.2%) to ‘Neutral’ and lowers its price target to $45 from $55 based on a reduced year-end forecast for MAUs.
The firm expects a tempered forward growth outlook to weigh on the shares over the near term. While Nomura retains a constructive view on monetization and margins, the firm recommends moving to the sidelines for now.
|
| |
| Tuesday, October 28, 2014, 9:03 AM — by Rob DeFrancesco, TechStock Radar |
| Goldman Remains Positive on Twitter |
Goldman Sachs lowers its Twitter (TWTR, $42.48 pre market, -12.5%) price target to $60 from $63, but maintains its ‘Buy’ rating, saying it continues to believe the company is still in the early stages of a very long growth cycle.
Twitter needs more time to build out its presence, which involves investing in products and technology to grow the platform, says the firm.
|
| |
| Monday, October 27, 2014, 4:27 PM — by Rob DeFrancesco, TechStock Radar |
| Twitter Reports Q3 Results |
Twitter (TWTR, $48.56) reports Q3 EPS of one cent, in line with the consensus estimate, on revenue of $361.3 million (+114% y/y), above the consensus of $351.35 million.
Average monthly active users (MAUs) rose 23% to 284 million. Mobile users represented ~80% of total MAUs.
Ad revenue of $320 million advanced 109%, with mobile ad revenue accounting for 85% of total ad revenue.
For Q4, Twitter expects revenue of $440 million to $450 million, vs. the consensus of $448.2 million.
|
| |
| Monday, October 27, 2014, 11:01 AM — by Rob DeFrancesco, TechStock Radar |
| Jefferies Starts Alibaba at 'Buy' |
Jefferies starts coverage of Alibaba (BABA, $98.05) at ‘Buy’ with a price target of $118 based on the company’s growth potential in the Chinese e-commerce market. For its target, the firm uses a CY 2016 P/E of 32.5.
Alibaba today has an 80% share of the market, while e-commerce in China only accounts for about 8% of total consumption, indicating plenty of room for expansion.
|
| |
| Monday, October 27, 2014, 9:05 AM — by Rob DeFrancesco, TechStock Radar |
| GoPro Shares Under Pressure |
On Friday, shares of GoPro (GPRO, $71.91) fell 9.1% after OpCo started coverage at ‘Sell’ with a price target of $45 based on valuation, increasing competition in the high-def videocamera segment and an outlook showing moderating revenue growth.
GoPro shares are down 27% from the post-IPO high of $98.47 reached on October 7.
For our take on GoPro, see the October 2014 issue of Tech-Stock Prospector. Order the latest issue here for download to your Kindle or Kindle for iPad/iPhone reading app.
|
| |
| Monday, October 27, 2014, 9:03 AM — by Rob DeFrancesco, TechStock Radar |
| BMO Capital Bullish on Alibaba |
BMO Capital initiates coverage of Alibaba (BABA, $95.76) at ‘Outperform’ with a price target of $110, saying the company is benefiting from numerous secular growth trends.
The firm expects Alibaba over the next several years to further penetrate the rapidly growing Chinese e-commerce market as well as expand into new geographies and verticals.
BMO Capital is also bullish on Alibaba’s growing mobile user base and increased mobile monetization rates.
|
| |
| Friday, October 24, 2014, 3:01 PM — by Rob DeFrancesco, TechStock Radar |
| Chart Watch: Tableau |
Shares of Tableau Software (DATA, $78.29) today are up more than 4%, and earlier pushed through the September high of $78.42, reaching an intraday high of $78.55. The RSI is rising from 64.2.
The 50-day moving average at $68.99 is approaching the 200-day moving average at $70.66 for a potential upside crossover.
|
| |
| Friday, October 24, 2014, 10:52 AM — by Rob DeFrancesco, TechStock Radar |
| NetSuite +11% on Strong Q3 Report |
Shares of NetSuite (N, $103.40), a provider of cloud-based ERP solutions, today are up 11% after the company last night reported Q3 EPS of 11 cents, seven cents above the consensus estimate, on revenue of $143.7 million (+34% year over year), vs. the consensus of $141 million.
For Q4, NetSuite sees EPS of eight cents to 10 cents (the consensus is 10 cents) on revenue of $154 million to $156 million, above the consensus estimate of $152.3 million.
|
| |
| Friday, October 24, 2014, 9:05 AM — by Rob DeFrancesco, TechStock Radar |
| Barclays Positive on Alibaba |
Barclays starts coverage of Alibaba (BABA, $94.45) at ‘Overweight’ with a price target of $107, saying the stock is attractive considering the company’s dominant market share position as well as its sustainable marketplace model and e-commerce ecosystem.
The firm says Alibaba’s ecosystem is unique in that the marketplaces are interconnected, which helps drive traffic growth between them and leads to improved cross-selling opportunities.
For the 2015-2017 period, Barclays expects an earnings CAGR of 38%.
The price target is based on a P/E of 35 applied to the firm’s fiscal 2016 (March) EPS estimate of $3.06.
For more on Alibaba’s growth outlook, see the October 2014 issue of Tech-Stock Prospector. Order the latest issue here for download to your Kindle or Kindle for iPad/iPhone reading app.
|
| |
| Thursday, October 23, 2014, 4:54 PM — by Rob DeFrancesco, TechStock Radar |
| 2 Momentum Names Hit New All-Time Highs |
Shares of Facebook (FB, $80.04) today rose 2.1% and hit a new all-time high at $80.63.
In IT security, Palo Alto Networks (PANW, $107.45) shares were up 4.7% and hit a new all-time high at $108.21.
|
| |
| Thursday, October 23, 2014, 10:35 AM — by Rob DeFrancesco, TechStock Radar |
| Citi Still Bullish on Yelp |
Citi calls the sharp pullback in Yelp (YELP, $58.47) shares an “enhanced” buying opportunity. The firm remains bullish on Yelp over the long term, but reduces its price target to $78 from $87 based on a “slightly slower” growth outlook.
|
| |
| Thursday, October 23, 2014, 10:30 AM — by Rob DeFrancesco, TechStock Radar |
| Stifel Downgrades Yelp |
Stifel downgrades Yelp (YELP, $58.08) to ‘Hold’ based on weaker-than-expected growth in the number of local business accounts and a more modest top-line growth assumption for 2015.
Yelp shares this morning are down more than 17% on heavy volume.
|
| |
| Thursday, October 23, 2014, 9:09 AM — by Rob DeFrancesco, TechStock Radar |
| Yelp Shares Stung by Q4 Guidance |
Yelp (YELP, $61.84 pre market, -11.9%) shares are getting hit hard in pre-market trading after the company’s Q4 revenue guidance of $107 million to $108 million fell short of the consensus estimate of $111 million.
In Q3, revenue rose 67% to $102.5 million, above the consensus of $98.9 million. The number of active local business accounts advanced 51% to 86,200, coming in a bit shy of some Wall Street forecasts.
For 2014, the company looks for revenue of $375 million to $376 million (up from previous guidance of $372 million to $375 million), vs. the consensus of $375.1 million.
|
| |
| Wednesday, October 22, 2014, 5:56 PM — by Rob DeFrancesco, TechStock Radar |
| ServiceNow Q3 Revenue +61%, Sees Strong Q4 |
ServiceNow (NOW, $58.07), a provider of cloud-based enterprise operations management solutions, reports Q3 EPS of three cents, two cents above the consensus estimate, on revenue of $178.7 million (+61% year over year), vs. the consensus of $174.4 million (guidance was $173 million to $175 million).
Billings rose 58% to $200.7 million.
For Q4, the company expects revenue of $192 million to $194 million, above the consensus of $191.4 million.
|
| |
| Wednesday, October 22, 2014, 11:21 AM — by Rob DeFrancesco, TechStock Radar |
| Apple Estimates on the Rise |
Following the big fiscal Q4 report from Apple (AAPL, $103.55), the fiscal 2015 (Sept.) consensus EPS estimate took a big jump, to $7.62 from $7.31 last week. The Street-high EPS estimate is now $8.37.
|
| |
| Wednesday, October 22, 2014, 9:15 AM — by Rob DeFrancesco, TechStock Radar |
| Brean Capital Cautious on Yelp |
Brean Capital starts Yelp (YELP, $71.28) at ‘Hold’ based on valuation, saying the stock trades a premium to its peers and that much of the positive growth story is already priced in.
The firm is bullish on the Yelp Platform initiative, but believes it will be some time before this offering has any meaningful impact on revenue and earnings.
|
| |
| Tuesday, October 21, 2014, 4:22 PM — by Rob DeFrancesco, TechStock Radar |
| Buyers Return to Apple |
Shares of Apple (AAPL, $102.47) today gained 2.7% on heavy volume.
Now back above the 50-day moving average of $100.07, the stock is once again at the high end of its recent trading range. The all-time high stands at $103.74.
Traders are watching the upside momentum of the fiscal 2015 (Sept.) consensus EPS estimate, which has reached $7.33, vs. $7.16 in the middle of September.
|
| |
| Tuesday, October 21, 2014, 11:01 AM — by Rob DeFrancesco, TechStock Radar |
| Barclays Boosts Apple Target |
Barclays raises its Apple (AAPL, $102.04) price target to $120 from $116, saying it expects the iPhone 6 to drive earnings acceleration over the next several quarters.
|
| |
| Tuesday, October 21, 2014, 9:05 AM — by Rob DeFrancesco, TechStock Radar |
| OpCo Ups Palo Alto Networks Target |
OpCo lifts its Palo Alto Networks (PANW, $100.88) price target to $115 from $100 based on the company’s growing customer base and market share gains across the IT security sector.
The firm says Palo Alto’s high-end appliances and new endpoint protection offering are expanding the company’s TAM.
For more on Palo Alto’s growth story, see the October 2014 issue of Tech-Stock Prospector. Order the latest issue here for download to your Kindle or Kindle for iPad/iPhone reading app.
|
| |
| Monday, October 20, 2014, 4:18 PM — by Rob DeFrancesco, TechStock Radar |
| OpCo Bullish on TripAdvisor Following Pullback |
OpCo starts coverage of TripAdvisor (TRIP, $83.54) at ‘Outperform’ with a price target of $99 based on a combination of growth and valuation.
The 2014 consensus EPS estimate of $2.12 indicates growth of 26%, while the 2015 consensus of $2.78 represents a growth acceleration to 31%.
TripAdvisor shares are down 25% from the all-time high of $111.24 reached on June 30.
From the August pivot high at $105.22, the stock dropped 28% to the October 15 low of $75.34.
|
| |
| Monday, October 20, 2014, 12:01 PM — by Rob DeFrancesco, TechStock Radar |
| Chart Watch: Apple |
After last week’s dip to $95.18, Apple (AAPL, $99.34) shares today are rebounding 1.7% ahead of the release of fiscal Q4 (Sept.) results after the close. The 50-day moving average at $99.93 is an important short-term level to watch.
|
| |
| Monday, October 20, 2014, 9:02 AM — by Rob DeFrancesco, TechStock Radar |
| Wunderlich Upbeat on Yelp |
Wunderlich remains positive on Yelp (YELP, $67.09) into this week’s Q3 earnings report on Wednesday. The firm, which maintains its price target of $105, believes Yelp is one of the best-positioned plays when it comes to taking market share in the local-ad segment.
Going forward, Wunderlich expects an acceleration in Yelp’s profitability, a metric investors should find attractive. The Q3 consensus estimates: EPS of three cents on revenue of $99 million.
|
| |
| Friday, October 17, 2014, 11:02 AM — by Rob DeFrancesco, TechStock Radar |
| A Quick Rebound for NetSuite |
After falling below the 50-day moving average of $86.85 earlier this week, shares of NetSuite (N, $91.44) have quickly rebounded back above the 200-day moving average at $90.37. The RSI is rising from 57.8.
|
| |
| Friday, October 17, 2014, 9:04 AM — by Rob DeFrancesco, TechStock Radar |
| Canaccord Bullish on Salesforce |
Canaccord reiterates its Salesforce (CRM, $53.87) price target of $65, saying the company offers a combination of promising growth at an attractive valuation.
However, D.A. Davidson this week reduced its target to $60 from $62 because it believes the positives related to the Salesforce growth story are already reflected in the current valuation.
Without the help of an acquisition-related tailwind, revenue growth for fiscal 2016 (Jan.) is expected to decelerate to 24.1% from 31.8% in FY’15.
|
| |
| Thursday, October 16, 2014, 5:01 PM — by Rob DeFrancesco, TechStock Radar |
| Brean Capital Bullish on Alibaba |
Brean Capital starts coverage of Alibaba (BABA, $88.85) at ‘Buy’ with a price target of $110 based on the company’s growth potential in the Chinese e-commerce market.
After hitting a new post-IPO low of $82.81 yesterday, the stock today rebounded 3.8%.
|
| |
| Thursday, October 16, 2014, 11:44 AM — by Rob DeFrancesco, TechStock Radar |
| Chart Watch: Imperva |
After jumping 12.7% yesterday, shares of Imperva (IMPV, $30.08), a provider of datacenter security solutions, today are up 1.6%. The stock has retaken its 50-day moving average of $29.14.
|
| |
| Thursday, October 16, 2014, 10:02 AM — by Rob DeFrancesco, TechStock Radar |
| Salesforce Targets $20 Billion in Annual Revenue |
Salesforce (CRM, $52.25) yesterday said it has an ambitious long-term goal to reach $20 billion in annual revenue, vs. $5.37 billion expected for fiscal 2015 (Jan.).
In order to get to that target, the company will expand into new product segments, focus on key verticals (including healthcare and financial services) and broaden its reach across international sales territories.
|
| |
| Thursday, October 16, 2014, 9:02 AM — by Rob DeFrancesco, TechStock Radar |
| JP Morgan Upgrades FireEye |
JP Morgan upgrades FireEye (FEYE, $26.80) to ‘Overweight’ with a price target of $54, saying Wall Street’s expectations have come in even though the company continues to show solid growth in the security sector.
|
| |
| Wednesday, October 15, 2014, 11:03 AM — by Rob DeFrancesco, TechStock Radar |
| Netflix Dips on HBO Go Standalone News |
Shares of Netflix (NFLX, $430.59) are down 4% after Time Warner announces HBO Go next year will launch as a standalone (cable-free) service in the U.S.
|
| |
| Wednesday, October 15, 2014, 9:05 AM — by Rob DeFrancesco, TechStock Radar |
| Deutsche Bank Remains Upbeat on Facebook |
Deutsche Bank maintains its Facebook (FB, $73.59) price target of $90 and recommends buying on weakness, as its checks indicate Q3 results will be solid. The firm also remains bullish on Facebook’s 2015 revenue opportunities.
|
| |
| Tuesday, October 14, 2014, 4:12 PM — by Rob DeFrancesco, TechStock Radar |
| Intel Q3 Results Above Expectations |
Intel (INTC, $32.14) reports Q3 EPS of 66 cents, one cent above the consensus estimate, on revenue of $14.55 billion, vs. the consensus of $14.45 billion. Gross margin came in at 65%, up from 64.5% in Q2.
Revenue by key segment:
*PC Client Group: $9.2 billion +9% y/y
*Datacenter Group: $3.7 billion +16%
*Internet of Things Group: $530 million +14%
Q4 revenue guidance: $14.2 billion to $15.2 billion, vs. the consensus of $14.49 billion.
|
| |
| Tuesday, October 14, 2014, 11:03 AM — by Rob DeFrancesco, TechStock Radar |
| UBS & BofA/Merrill Positive on Alibaba |
UBS starts coverage of Alibaba (BABA, $84.73) at ‘Buy’ with a price target of $100 and BofA/Merrill initiates at ‘Buy’ with a target of $112.
The company went public last month at $68 a share and opened for trading at $92.70. This morning, the stock hit a new post-IPO low at $83.22.
For more on Alibaba, see the October 2014 issue of Tech-Stock Prospector. Order the latest issue here for download to your Kindle or Kindle for iPad/iPhone reading app.
|
| |
| Tuesday, October 14, 2014, 10:08 AM — by Rob DeFrancesco, TechStock Radar |
| Credit Suisse Positive on F5 Networks |
Credit Suisse initiates F5 Networks (FFIV, $108.51) at ‘Outperform’ with a price target of $140, saying the company is uniquely positioned in the datacenter to benefit from both enterprise and consumer applications growth.
|
| |
| Tuesday, October 14, 2014, 9:02 AM — by Rob DeFrancesco, TechStock Radar |
| Monness Crespi Raises Apple Target |
Monness Crespi & Hardt raises its Apple (AAPL, $99.81) price target to $115 from $100 based on strong iPhone sales and a higher ASP.
The firm is positive on Apple’s move into the larger-screen handset market, payments and wearable technology.
|
| |
| Monday, October 13, 2014, 4:30 PM — by Rob DeFrancesco, TechStock Radar |
| BTIG Upgrades Netflix |
BTIG Research upgrades Netflix (NFLX, $438.58) to ‘Buy’ with a price target of $600 based on valuation and international streaming subscriber growth.
The firm is forecasting that Netflix’s worldwide streaming subscriber count will reach 100 million by 2017, up from an estimate of 59 million at the end of this year.
|
| |
| Monday, October 13, 2014, 3:18 PM — by Rob DeFrancesco, TechStock Radar |
| Janus Boosts Stake in ChannelAdvisor |
Janus Capital boosted its stake in ChannelAdvisor (ECOM, $13.14)--a provider of cloud-based solutions used by retailers to manage and optimize sales across online channels--to 10.5%.
The stock is down sharply from its 52-week high of $49.90.
Janus now owns 2.58 million shares, up from 839,586 shares held at the end of Q2. As of the June quarter, Fidelity was the #1 holder, with 3.46 million shares.
|
| |
| Monday, October 13, 2014, 11:04 AM — by Rob DeFrancesco, TechStock Radar |
| Bernstein Positive on Microsoft Cloud Unit |
Bernstein Research remains positive on the growth prospects for the cloud business at Microsoft (MSFT, $44.23).
For fiscal Q1 (Sept.), the firm expects accelerated demand for the company’s cloud products. Bernstein reiterates its price target of $56.
|
| |
| Monday, October 13, 2014, 9:01 AM — by Rob DeFrancesco, TechStock Radar |
| William Blair Remains Upbeat on F5 |
William Blair expects F5 Networks (FFIV, $107.11) to report strong fiscal Q4 (Sept.) results and provide a positive outlook.
The FQ4 consensus estimates: EPS of $1.48 on revenue of $460.6 million.
The firm sees the recent pullback in the stock (caused by concerns about other networking vendors issuing negative pre-announcements) as a buying opportunity.
|
| |
| Friday, October 10, 2014, 5:35 PM — by Rob DeFrancesco, TechStock Radar |
| 6 Stocks to Watch During This Pullback |
The Nasdaq closed the week at 4,276, below its 200-day moving average of 4,300.
As this pullback continues, there are six stocks that we’re keeping a close eye on as potential additions to the portfolios.
Tech-Stock Prospector subscribers should see today’s Rob’s Journal for the list of names.
|
| |
| Friday, October 10, 2014, 5:20 PM — by Rob DeFrancesco, TechStock Radar |
| Viewing GoPro as a Media Company |
Is GoPro (GPRO, $85.05) just a provider of portable videocamera hardware or a budding media company?
Right now, it’s the ultimate (and highly volatile) story stock with a market cap of nearly $11 billion.
For more on the GoPro story, see the October 2014 issue of Tech-Stock Prospector. Order the latest issue here for download to your Kindle or Kindle for iPad/iPhone reading app.
|
| |
| Friday, October 10, 2014, 10:01 AM — by Rob DeFrancesco, TechStock Radar |
| Evercore Lifts Twitter Target |
Evercore Partners raises its Twitter (TWTR, $54.65) price target to $65 from $55, saying its revenue and margin estimates for 2015 and 2016 remain more than 30% above the Street, leaving room for multiple expansion.
The firm remains positive on Twitter’s ability to deliver better results for marketers via the company's innovative ad formats and improved targeting capabilities.
For more on Twitter’s growth outlook, see the October 2014 issue of Tech-Stock Prospector. Order the latest issue here for download to your Kindle or Kindle for iPad/iPhone reading app.
|
| |
| Friday, October 10, 2014, 9:01 AM — by Rob DeFrancesco, TechStock Radar |
| Mixed Views on Symantec |
JMP Securities raises its Symantec (SYMC, $23.44) price target to $30 from $27, putting a per-share value of $22 on the security business and $8 on the information management unit. The firm believes operational complexity at the company has been a hindrance in terms of keeping up with technological changes.
Pacific Crest isn’t so positive on the split-up, saying product development is needed to create value at Symantec, not just a financial maneuver.
|
| |
| Thursday, October 9, 2014, 4:14 PM — by Rob DeFrancesco, TechStock Radar |
| Symantec Announces Split-Up |
Symantec (SYMC, $23.44) will split into two publicly traded companies, with one focused on security (fiscal 2014 revenue of $4.2 billion) and the other on information management (fiscal 2014 revenue of $2.5 billion).
The spinoff of the information management unit (made up of backup & recovery, archiving, eDiscovery, storage management and information availability solutions) is expected to be completed by the end of December 2015. The stock distribution ratio for current Symantec shareholders will be determined at some point in the future.
|
| |
| Thursday, October 9, 2014, 12:46 PM — by Rob DeFrancesco, TechStock Radar |
| Can FireEye Bounce Back? |
Shares of cybersecurity solutions vendors FireEye (FEYE, $27.08), down sharply from the 52-week high of $97.25, are trying to stabilize around current levels.
The market cap of $4.03 billion is 9.4 times the 2014 consensus revenue estimate of $428.5 million and 6.4 times the 2015 consensus of $629.2 million.
For more on FireEye, download the October 2014 issue of Tech-Stock Prospector to your Kindle or Kindle for iPad/iPhone reading app.
|
| |
| Thursday, October 9, 2014, 11:01 AM — by Rob DeFrancesco, TechStock Radar |
| MKM Partners Bullish on NetSuite |
MKM Partners starts coverage of NetSuite (N, $91.98) at ‘Buy’ with a price target of $105, saying the company is a leader in the cloud-based ERP software market and a major beneficiary of the secular shift away from on-premise applications.
The firm is bullish on NetSuite because the company is bringing on larger customers, expanding to additional industry verticals and moving into related SaaS applications.
|
| |
| Thursday, October 9, 2014, 9:02 AM — by Rob DeFrancesco, TechStock Radar |
| OpCo Upgrades Apple |
Oppenheimer upgrades Apple (AAPL, $100.80) to ‘Outperform’ with a price target of $115 based on increased estimates thanks to the successful iPhone 6/6 Plus product launch.
The firm expects the company’s latest handset cycle to be strong well into next year, leading to market share gains.
|
| |
| Wednesday, October 8, 2014, 11:29 AM — by Rob DeFrancesco, TechStock Radar |
| Yelp Trying to Hold Support |
Shares of Yelp (YELP, $67.25) for now are holding above short-term support around the $66 level and the August 1 low of $64.70. The RSI is down to 31.1. The stock is off 22% from the September 3 high of $86.88.
|
| |
| Wednesday, October 8, 2014, 10:33 AM — by Rob DeFrancesco, TechStock Radar |
| Canaccord Lifts Splunk Target |
Canaccord Genuity raises its Splunk (SPLK, $57.19) price target to $68 from $60 because it believes continued use-case expansion will drive capacity build-out and revenue growth beyond current expectations.
|
| |
| Wednesday, October 8, 2014, 9:02 AM — by Rob DeFrancesco, TechStock Radar |
| Symantec to Split Up? |
Symantec (SYMC, $23.19) is in the advanced planning stage to split up into two units covering security and storage, according to Bloomberg.
For our latest analysis on Symantec, Tech-Stock Prospector should see the October 2014 issue.
|
| |
| Tuesday, October 7, 2014, 4:28 PM — by Rob DeFrancesco, TechStock Radar |
| Piper Jaffray Downgrades GoPro |
Piper Jaffray downgrades GoPro (GPRO, $93.73) to ‘Neutral’ based on valuation. The stock is above the firm’s price target of $90.
Piper Jaffray remains positive on the company’s longer-term growth story, but recommends waiting for a better entry level.
Earlier in the session, GoPro shares hit a new post-IPO high of $98.47. The company went public in June at $24.
|
| |
| Tuesday, October 7, 2014, 11:14 AM — by Rob DeFrancesco, TechStock Radar |
| Susquehanna Boosts Apple Target |
Susquehanna raises its Apple (AAPL, $99.64) price target to $120 from $115 based on a higher handset production forecast, a better sales mix of higher-priced versions of the iPhone 6 and increased blended ASPs.
|
| |
| Tuesday, October 7, 2014, 10:01 AM — by Rob DeFrancesco, TechStock Radar |
| Bernstein Remains Positive on Juniper |
Bernstein thinks Juniper Networks (JNPR, $21.45) shares are at a good entry point, down 25% from the January high of $28.75. The firm’s price target is $30.
Bernstein believes the stock has upside potential on solid execution, with new management and activist investors driving cost cutting and improving capital returns.
|
| |
| Tuesday, October 7, 2014, 9:04 AM — by Rob DeFrancesco, TechStock Radar |
| BofA/Merrill Sets Apple Price Target at $120 |
BofA/Merrill restarts coverage of Apple (AAPL, $99.62) at ‘Buy’ with a price target of $120 based on the strong iPhone upgrade cycle (taking into consideration ~110 million phones older than two years) and gross margin expansion driven by higher handset ASPs.
Looking out over the longer term (two to three years), the firm sees Apple Pay and Apple Watch adding $10/share and $5/share in value, respectively.
For fiscal 2015 (Sept.), BofA/Merrill’s EPS estimate of $7.86 is well above the consensus of $7.28.
|
| |
| Monday, October 6, 2014, 4:42 PM — by Rob DeFrancesco, TechStock Radar |
| Hewlett-Packard +4% on Split-Up News |
Shares of Hewlett-Packard (HPQ, $36.87) today gained 4.7% following the split-up news.
Overall, Wall Street does not appear all that excited by the planned separation, with some analysts questioning the motivation behind the move and the level of expected synergies.
There could be modest upside for the shares going forward. Then again, perhaps this is all too little too late for reigniting interest in the legacy tech name.
Morgan Stanley reiterated its price target of $40, while Cantor Fitzgerald went to $39 from $34.50. Bernstein Research has a sum-of-the-parts valuation of $37 to $45 ($16-$19 for HP and $21 to $26 for H-P Enterprise).
|
| |
| Monday, October 6, 2014, 11:54 AM — by Rob DeFrancesco, TechStock Radar |
| Morgan Stanley Upgrades Splunk |
Morgan Stanley upgrades Splunk (SPLK, $59.98) to ‘Overweight’ with a price target of $66, saying the company is a Big Data pure play showing several positive metrics:
1-FQ2 billings growth acceleration even with Splunk Cloud price cut of 33%
2-Improving operating margin
3-Sales capacity increase of around 40% for FY’15 should help drive future growth (as of the July quarter, 60% of Splunk’s 266 sales reps had been on the job for 12 months or more)
|
| |
| Monday, October 6, 2014, 10:02 AM — by Rob DeFrancesco, TechStock Radar |
| JMP Ups GoPro Target |
JMP Securities boosts its GoPro (GPRO, $89.89) price target to $105 from $60 following positive checks that show high consumer demand for the new HERO4 Black camera, which is priced at $499. The firm says retailers are already running out of stock.
|
| |
| Monday, October 6, 2014, 9:07 AM — by Rob DeFrancesco, TechStock Radar |
| Hewlett-Packard to Split Up |
Hewlett-Packard (HPQ, $35.20) will split into two public companies:
*HP--PCs and printers
*Hewlett-Packard Enterprise--Infrastructure, software & services
Current shareholders will own shares in both companies. The separation is expected to be completed by the end of fiscal 2015 (October).
Hewlett-Packard management says it remains active on the M&A hunt ahead of the split.
|
| |
| Friday, October 3, 2014, 3:15 PM — by Rob DeFrancesco, TechStock Radar |
| Yahoo to Invest in Snapchat? |
Yahoo (YHOO, $41.10) has held talks to invest in mobile-messaging app Snapchat at a valuation of $10 billion, reports The WSJ.
Depending on the size of the potential investment (it may not be that large), this could be quite a snub of activist investor Starboard Value, which does not believe Yahoo “should be pursuing acquisitions of companies at high multiples of revenue as it has done repeatedly in the past.”
|
| |
| Friday, October 3, 2014, 11:43 AM — by Rob DeFrancesco, TechStock Radar |
| Read Tech-Stock Prospector on Kindle |
Download the September 2014 issue of Tech-Stock Prospector
to your Kindle or Kindle for iPad/iPhone reading app.
Order the latest issue of TSP for Kindle here.
Here are some of the topics covered in the September 2014
issue:
*What’s ahead for Facebook
in 2015
*Worldwide smartphone adoption driving mobile messaging
growth
*Our latest growth & valuation analysis on Apple
*Mobileye a
leader in the automotive technology megatrend
*Security Watch: Imperva
names a new CEO as it improves execution
*Fortinet gaining
ground in enterprise security, closing more big deals
*Palo Alto Networks
moving into new growth sectors of IT security
*Nimble Storage expands
its product portfolio to win larger accounts
*Small-Cap Watch: Gigamon
shows early signs of improvement
*Ciena lands a
major infrastructure contract with AT&T
*Cloud Watch: Workday
expands its enterprise ecosystem
*Cloud software gaining traction in HR/human capital
management
*Aruba Networks
sees growth acceleration from WiFi upgrade cycle
*Authentication a key requirement in enterprise wireless
networks
*Big Data Watch: Splunk
rapidly building its customer base
*Why some smart money managers like Veeva Systems now
*Akamai Technologies
on a competitive upswing in content delivery
*YouTube delivers video advertising growth for Google
*Positive metrics in cloud-software sector could drive more
acquisitions
*Deal Report: Cloud-software vendor Concur Technologies up for sale?
|
| |
| Friday, October 3, 2014, 10:17 AM — by Rob DeFrancesco, TechStock Radar |
| Palo Alto Networks Hits New All-Time High |
Shares of Palo Alto Networks (PANW, $104.81) today are up more than 6% and earlier hit a new all-time high at $106.23.
Volume is extremely heavy at 1.78 million shares traded already this morning.
|
| |
| Friday, October 3, 2014, 9:02 AM — by Rob DeFrancesco, TechStock Radar |
| Northland Downgrades FireEye |
Northland Capital downgrades FireEye (FEYE, $29.59) to ‘Underperform’ with a price target of $25 (down from $34) on increased competition in the cybersecurity space, concerns about revenue visibility and valuation.
In Q4, FireEye’s big Mandiant acquisition has its one-year anniversary, so the company’s headline revenue growth rate will drop from a highly elevated level.
|
| |
| Thursday, October 2, 2014, 12:55 PM — by Rob DeFrancesco, TechStock Radar |
| B Riley Positive on Rubicon Project |
B.Riley initiates coverage of ad-tech specialist Rubicon Project (RUBI, $10.90) at ‘Buy’ with a price target of $15, saying the company is well positioned to benefit from secular growth in programmatic advertising.
Rubicon’s cloud-based platform automates sales of digital ads for more than 700 publishers and applications.
The company went public in April at $15.
|
| |
| Thursday, October 2, 2014, 10:52 AM — by Rob DeFrancesco, TechStock Radar |
| JP Morgan Upgrades Twitter |
JP Morgan upgrades Twitter (TWTR, $50.66) to ‘Overweight’ with a price target of $64 based on the following reasons:
1-Increased engagement thanks to improved onboarding efforts and richer media content
2-Increased confidence in mobile monetization
3-Greater margin expansion opportunity on improved monetization related to the rollout of self-serve advertising
|
| |
| Thursday, October 2, 2014, 9:01 AM — by Rob DeFrancesco, TechStock Radar |
| Citi Ups Apple Target |
Citi boosts its Apple (AAPL, $99.18) price target to $120 from $110 based on positive pricing trends for the iPhone 6.
Consumers are purchasing more expensive versions of the 6 and 6 Plus (and the 6 Plus already starts at a higher price point), a positive driver for sales, margins and earnings.
|
| |
| Wednesday, October 1, 2014, 5:02 PM — by Rob DeFrancesco, TechStock Radar |
| FireEye Approaches Support |
Shares of cybersecurity solutions vendor FireEye (FEYE, $28.76) today fell 5.8% on heavy volume. The RSI is trending downward from 36.1. The stock is approaching key short-term support at $27.06 from August 22. The 52-week low stands at $25.58.
|
| |
| Wednesday, October 1, 2014, 11:02 AM — by Rob DeFrancesco, TechStock Radar |
| Alibaba Hits New Post-IPO Low |
Shares of Alibaba (BABA, $86.41) this morning hit a new post-IPO low of $86.04. The stock is off 13% from its first-day high of $99.70.
|
| |
| Wednesday, October 1, 2014, 10:18 AM — by Rob DeFrancesco, TechStock Radar |
| Chart Watch: Yelp |
After recently falling below both the 50-day and 200-day moving averages, shares of Yelp (YELP, $66.79) are approaching short-term support at the August low of $64.70.
Yelp shares are now off 23% from the September high of $86.88.
|
| |
| Wednesday, October 1, 2014, 9:10 AM — by Rob DeFrancesco, TechStock Radar |
| JMP Remains Positive on Zillow |
JMP Securities believes the recent pullback in Zillow (Z, $115.99) shares has been overdone. The stock is down nearly 30% from its July 28 high of $164.90. The firm maintains its Zillow price target of $155.
JMP believes the News Corp purchase of Move (MOVE, $20.96) announced yesterday should help alleviate concerns about regulatory scrutiny of the Trulia (TRLA, $48.90) acquisition by Zillow.
|
