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TechStock Radar
E-mail: Rob@techstockprospector.com
Technorati
June 2018
Archives
 
Monday, June 18, 2018, 9:55 AM — by Rob DeFrancesco, TechStock Radar
UBS Lifts NVIDIA Target to $285

UBS raises its NVIDIA (NVDA, $263.84) price target to $285 from $266 based on the company’s positioning in AI technology associated with real-time facial recognition. 


The firm believes the facial recognition market represents a roughly $5-billion incremental TAM by 2020 for deep learning silicon.

 
Monday, June 18, 2018, 9:33 AM — by Rob DeFrancesco, TechStock Radar
BTIG Research Downgrades Rapid7

BTIG Research downgrades Rapid7 (RPD, $30.03) to ‘Neutral’ based on valuation, noting that further increases in the stock price would require the company to exceed its 2020 targets.


The firm remains positive on Rapid7’s transformation into a “comprehensive platform for security, IT analytics and security ops automated solutions,” as well as its transition to a subscription-based revenue model.


Rapid7 shares this morning are down 10% at the open.

 
Monday, June 18, 2018, 9:05 AM — by Rob DeFrancesco, TechStock Radar
June Issue of TSP Available on Kindle

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


Order the latest issue of TSP here.


Here are some of the topics covered in the June 2018 issue:

*Big money flows into tech
*How Salesforce offers a 360-degree view
*Tech Focus: Securing the cloud
*Zscaler is one to watch in cloud security
*Okta is becoming an ID management standard
*Varonis experiences an uptick in demand
*Trend Watch: The Subscription Economy
*Zuora offers an alternative to ERP software
*Competition heats up in campus networking
*New growth drivers at Arista Networks

*PayPal is benefiting from popular Venmo
*Why some smart investors like Workday
*Trend Watch: Global GDP gets digitized
*New Relic attracts larger enterprise accounts
*Apple turns to its Services unit for expansion
*A new CEO for Palo Alto Networks
*A valuation rebound at Facebook
*Marvell on track for margin expansion
*Tableau Software refines its sales execution
*Deal Report: Adaptive Insights
 
Friday, June 15, 2018, 11:28 AM — by Rob DeFrancesco, TechStock Radar
HubSpot Hits New All-Time High

Shares of HubSpot (HUBS, $136), a provider of cloud-based marketing & sales software, this morning hit a new all-time high at $136.75.


HubSpot is a holding in the Tech-Stock Prospector Small-Cap Portfolio, added in July 2016 at $42.52. The stock’s total return since then is 219.8%.

 
Friday, June 15, 2018, 10:10 AM — by Rob DeFrancesco, TechStock Radar
Citi Turns Negative on Splunk

Citi downgrades Splunk (SPLK, $114.94) to ‘Sell’ with a price target of $98, saying the company’s growth drivers are “plateauing.” The firm thinks the stock’s high valuation makes it “vulnerable.”


The firm argues Splunk is facing increasing competition as well as adoption challenges caused by a “persistently unconventional” pricing model. Citi also thinks the company’s market share in security is nearing levels where others have had challenges.


Splunk shares yesterday hit a new all-time high at $121.64. The stock ended 2017 at $82.84.

 
Thursday, June 14, 2018, 9:39 AM — by Rob DeFrancesco, TechStock Radar
JP Morgan Downgrades Oracle

JP Morgan downgrades Oracle (ORCL, $46.50) to ‘Neutral’ and lowers its price target to $53 from $55, pointing out the firm’s recent survey of 154 CIOs that showed the company receiving the largest number of indications for planned spending contraction this year. The firm notes the projected contraction for Oracle is materially more than the second-worst company.


The CIOs are indicating contraction in Oracle spending this year, putting the company in the same position as IBM (IBM), Check Point Software (CHKP) and CA (CA), says JP Morgan. 

 
Thursday, June 14, 2018, 9:32 AM — by Rob DeFrancesco, TechStock Radar
Davidson Ups Amazon PT to $2,100

DA Davidson lifts its Amazon (AMZN, $1,712) price target to $2,100 from $1,900, citing an updated model that’s projecting incremental revenue generated by the company’s private-label and advertising efforts relative to prior forecasts. The firm raises top-line growth projections by 1% for the forward years.

 
Wednesday, June 13, 2018, 9:37 AM — by Rob DeFrancesco, TechStock Radar
Chart Watch: Arista Networks

Shares of Arista Networks (ANET, $276.75) found short-term support at $268.60. There is short-term resistance at $280.60.


The 50-day moving average—now at $258.84—turned upward in early June. The 200-day moving average continues to trend higher from $238.08.

 
Wednesday, June 13, 2018, 9:28 AM — by Rob DeFrancesco, TechStock Radar
UBS: Microsoft Undervalued

UBS thinks Microsoft (MSFT, $101.54) is undervalued based on the company’s emerging cloud story and the durable on-premises legacy businesses. The firm reiterates its MSFT price target of $114.


The firm believes the strength of the Azure platform can be a key differentiator for the company.


On the game side, Microsoft content is taking center stage, as the company has acquired four game studios and formed a fifth, says UBS.

 
Tuesday, June 12, 2018, 10:02 AM — by Rob DeFrancesco, TechStock Radar
Microsoft Gaming Model in Transition

Morgan Stanley says the gaming division at Microsoft (MSFT, $101.27) is “moving from Gillette to Netflix,” meaning the model is being transformed from a “razor/razor blade” one built on the Xbox console base toward a subscription gaming service streaming from Azure to all types of devices.


The addition of five new development studios to underpin Microsoft’s first-party content particularly supports this view, according to the firm. 


Morgan Stanley maintains its MSFT price target of $130.

 
Tuesday, June 12, 2018, 9:26 AM — by Rob DeFrancesco, TechStock Radar
Citi Bullish on Intel

Citi reiterates Intel (INTC, $54.52) as its top semiconductor pick after May notebook shipments increased 26% sequentially, above normal seasonality of +15%. 


Over the past three months, the 2018 consensus EPS estimate for Intel has advanced to $3.84 from $3.55, while the 2019 consensus has risen to $4.05 from $3.80.

 
Monday, June 11, 2018, 12:32 PM — by Rob DeFrancesco, TechStock Radar
Microsoft Getting Bigger in Games

Bernstein says Microsoft (MSFT, $101.51) is increasing its investments in the the games sector, including adding five new creative teams to Microsoft Studios and making talent acquisitions to bring on more top developers.


Microsoft is making numerous small acquisitions and launching significant new game development capability, says the firm. 


Bernstein maintains its MSFT price target of $123.

 
Monday, June 11, 2018, 12:23 PM — by Rob DeFrancesco, TechStock Radar
Monness Crespi Bullish on Qualys

Monness Crespi & Hardt upgrades Qualys (QLYS, $84.50), a provider of cloud-based vulnerability management and compliance solutions, to ‘Buy’ with a price target of $94, saying the company has multiple growth drivers in the security space. The firm likes the high level of recurring revenue and cash generation at the company.

 
Friday, June 8, 2018, 1:18 PM — by Rob DeFrancesco, TechStock Radar
Chart Watch: Palo Alto Networks

Palo Alto Networks (PANW, $199.59) shares are testing the 50-day moving average at $197.16 after taking out short-term support at $199.87. The next support area is $189 to $190. The 200-day moving average continues to trend upward from $164.05.

 
Friday, June 8, 2018, 12:38 PM — by Rob DeFrancesco, TechStock Radar
Workday Acquires Rallyteam

Workday (WDAY, $124.66) is pushing further into machine learning. The company today announces the acquisition of Rallyteam, a provider of talent management and optimization solutions. The company’s mobility platform uses machine learning to help companies better understand and optimize their workforces by matching a worker’s interests and skills with relevant jobs, prospects and tasks.

 
Thursday, June 7, 2018, 9:28 AM — by Rob DeFrancesco, TechStock Radar
KeyBanc Boosts Okta Target to $65

KeyBanc raises its Okta (OKTA, $54.14) price target to $65 from $57, saying the company is flourishing because its vendor-agnostic approach meets the emerging demand for cloud-based identity.


Last night, Okta reported FQ1 (April) revenue growth of 60%.

 
Thursday, June 7, 2018, 9:21 AM — by Rob DeFrancesco, TechStock Radar
UBS Lifts CyberArk PT to $71

UBS lifts its CyberArk Software (CYBR, $64.33) price target to $71 from $64, citing better visibility into growth drivers, stabilization in the sales organization compared to a year ago, an easier-to-consume portfolio and technical advancements that have removed adoption friction.

 
Wednesday, June 6, 2018, 11:34 AM — by Rob DeFrancesco, TechStock Radar
A New High for Tableau

Tableau Software (DATA, $101.02) shares this morning hit a new 52-week high at $101.58. The 50-day moving average is accelerating upward from $88.35. The RSI stands at 75.2. The next significant resistance stands at $104.95 from November 2015.
 
Wednesday, June 6, 2018, 11:24 AM — by Rob DeFrancesco, TechStock Radar
Cornerstone Expands with IBM

Shares of Cornerstone OnDemand (CSOD, $51.88), a provider of cloud-based HCM/HR solutions, is expanding its strategic relationship with IBM.

As part of the arrangement, IBM will now directly engage with Cornerstone customers to offer talent management consulting services. IBM’s increased involvement could help drive larger software deals for Cornerstone.

Cornerstone shares today hit a new 52-week high at $51.91.

 
Tuesday, June 5, 2018, 10:35 AM — by Rob DeFrancesco, TechStock Radar
Microsoft Makes a Strategic Purchase

Piper Jaffray thinks the $7.5-billion acquisition of GitHub, a coding platform used by developers and companies, by Microsoft (MSFT, $102.15) is “extremely strategic.” 


The deal favorably positions Microsoft in the workflow for creating the next generation of applications, says the firm. Piper sees the potential for meaningful synergies across the business, particularly in the cloud unit.


The firm reiterates its MSFT price target of $115.

 
Tuesday, June 5, 2018, 10:25 AM — by Rob DeFrancesco, TechStock Radar
Jefferies Boosts Palo Alto Target

Jefferies lifts its Palo Alto Networks (PANW, $203.68) price target to $239 from $206, as it believes the company is benefiting from a product cycle that will continue for at least several more quarters.


Palo Alto is also doing what its customers are asking for by offering consolidated solutions with best-of-breed capabilities in each category, says the firm.

 
Monday, June 4, 2018, 9:37 AM — by Rob DeFrancesco, TechStock Radar
SunTrust Ups Amazon PT to $2,000

SunTrust lifts its Amazon (AMZN, $1,652) price target to $2,000 from $1,900, calling the stock one of its favorite names. 


Amazon is expanding into offline distribution, building a private label business at scale and challenging Facebook & Google as a major marketing platform, says the firm.

 
Monday, June 4, 2018, 9:23 AM — by Rob DeFrancesco, TechStock Radar
Cowen Remains Bullish on Cisco

Cowen reiterates its Cisco Systems (CSCO, $43.66) price target of $51, pointing out that management has made a case that the emergence of public clouds and the migration toward a multi-cloud world presents the company with greater opportunity than risk. 


Cisco can generate revenue opportunities from both public cloud operators and enterprises, says the firm.

 
Friday, June 1, 2018, 10:07 AM — by Rob DeFrancesco, TechStock Radar
Needham Lifts Square PT to $65

Needham raises its Square (SQ, $58.76) price target to $65 from $58, citing an open-ended growth story in payments. The firm believes the Weebly acquisition (the $365-million deal closed yesterday) provides a solid e-commerce platform to bolster Square’s omni-channel capabilities and competitive position.

 
Friday, June 1, 2018, 9:28 AM — by Rob DeFrancesco, TechStock Radar
UBS Raises Apple Target to $210

UBS raises its Apple (AAPL, $186.87) price target to $210 from $190, saying it thinks the narrative on the company is shifting. 


While the focus has been on iPhone unit sales, the firm argues investors are increasingly viewing Apple as a “consistent franchise with low single-digit hardware growth augmented by higher-margin, faster-growing services.” 

   
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