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TechStock Radar
September 2019
Friday, September 13, 2019, 5:22 PM — by Rob DeFrancesco, TechStock Radar
RBC Sets Adobe Target at $320

RBC Capital starts Adobe (ADBE, $278.35) at ‘Outperform’ with a price target of $320, up from $295. Ahead of the release of FQ3 (August) earnings next week, the firm notes that its checks point to an in-line or better quarter, with a strong pipeline going into FQ4. 

The firm likes that Adobe’s business is positioned to outperform over multiple market cycles, adding that the Creative Cloud unit offers strong pricing power.

Monday, September 9, 2019, 4:40 PM — by Rob DeFrancesco, TechStock Radar
Piper Jaffray Upgrades F5 Networks

Piper Jaffray upgrades F5 Networks (FFIV, $134.73) to ‘Buy’ with a price target of $166, saying the company’s software transition is having a positive impact on cash flow, visibility and multiple expansion. The firm believes F5’s coming new products should act as a catalyst and accelerator of the transition.

Piper believes concerns about the enterprise spending cycle, competition, China and the company’s service-provider exposure are already embedded in the shares, which are down from the all-time high of $199.71 reached in September 2018.

Monday, September 9, 2019, 4:31 PM — by Rob DeFrancesco, TechStock Radar
Baird Boosts Shopify Target

Baird lifts its Shopify (SHOP, $358.67) price target to $410 from $370 based on the ongoing favorable secular e-commerce trends, a large online services market opportunity and incremental monetization opportunities.

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