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TechStock Radar
July 2019
Monday, July 22, 2019, 2:10 PM — by Rob DeFrancesco, TechStock Radar
Credit Suisse Positive on Facebook

Credit Suisse maintains its Facebook (FB, $201.73) price target of $235, saying it expects 2019 to mark the beginning of when the company’s resources/capital allocation will once again be more focused on product development versus housecleaning. The firm’s recent checks with advertisers suggest minimal deceleration for U.S. budgets.

Thursday, July 18, 2019, 6:05 PM — by Rob DeFrancesco, TechStock Radar
Jefferies Downgrades Trade Desk

Jefferies downgrades ad-tech vendor Trade Desk (TTD, $241.56) to ‘Hold’ with a price target of $250. While still a fan of the fundamental growth story, the firm says the current valuation fully reflects the bullish case for the stock, which is up five-fold since early 2018. 

While Jefferies sees connected TV and international expansion as the next key growth drivers for Trade Desk, the firm doesn’t think these initiatives will drive up estimates enough to justify a higher valuation.

For 2019, the consensus revenue estimate of $649.5 million represents growth of 36.1%. The Street-high estimate is $657 million.

The stock’s all-time high of $257.99 was reached in the middle of June.

Monday, July 15, 2019, 3:26 PM — by Rob DeFrancesco, TechStock Radar
Macquarie Sets Anaplan Target at $65

Macquarie starts Anaplan (PLAN, $57.95) at ‘Outperform’ with a price target of $65, saying the company has an ample runway for growth in the $60-billion total addressable market for spreadsheet-based planning. 

Anaplan shares today hit a new post-IPO high at $58.21.

Friday, July 12, 2019, 4:02 PM — by Rob DeFrancesco, TechStock Radar
Stephens sets Zoom Video PT at $115

Stephens starts Zoom Video (ZM, $93.30) at ‘Overweight’ with a price target of $115 based on its view that the company’s modern approach to video is driving a fundamental change in the user consumption model. 

The firm believes Zoom Video has a long growth runway for a number of reasons—including continued market share gains, new product launches, growing penetration and international expansion.

Zoom Video shares hit a post-IPO high of $107.34 on June 20.

Tuesday, July 9, 2019, 12:05 PM — by Rob DeFrancesco, TechStock Radar
OpCo Cautious on Slack Valuation

Oppenheimer believes much of the upside is already baked into the shares of Slack (WORK, $35.08) at current levels. The firm starts coverage at ‘Perform’ based on valuation. 

OpCo acknowledges Slack’s differentiated platform, expectations for share gains/TAM expansion across the enterprise collaboration market and strong land-and-expand execution that combines viral, self-service user expansion with a successful top-down enterprise sales motion. 

Monday, July 1, 2019, 3:45 PM — by Rob DeFrancesco, TechStock Radar
Goldman Gets Bullish on Anaplan

Goldman Sachs upgrades Anaplan (PLAN, $50.24) to ‘Buy’ and lifts its price target to $62 from $48, calling the company the leading enterprise planning platform vendor. 

Deal sizes are getting larger and expansions are taking place at a faster pace because of sales productivity improvements, says the firm. 

Earlier today, Anaplan shares jumped to a new post-IPO high of $53.18.

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