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CRM

Salesforce

$154.57

1.595 (1.04%)

, AKAM

Akamai

$74.91

0.5 (0.67%)

12:12
08/29/18
08/29
12:12
08/29/18
12:12

Fly Intel: What to watch in Salesforce earnings report

Salesforce (CRM) is scheduled to report results of its second fiscal quarter after the market close on Wednesday, August 29, with a conference call scheduled for 5:00 pm ET. What to watch for: 1. GUIDANCE: Along with its first quarter earnings in May, Salesforce raised its fiscal year 2019 revenue view to $13.075B-$13.125B from $12.66B-$12.71B and its FY19 adjusted EPS view to $2.29-$2.31 from $2.25-$2.27. Consensus, which stood at $12.75B and $2.13 for revenue and earnings at that time, has edged up to $13.13B and $2.32, respectively. 2. PARTNERSHIPS: In May, Akamai (AKAM) announced the release of the Akamai Connector for Salesforce Commerce Cloud. The integration of the Akamai Connector with Salesforce Commerce Cloud allows organizations to take advantage of Akamai's web performance solutions. Salesforce customers can leverage the Akamai Connector to achieve end-to-end performance and reliability, with the added benefit of the security protections inherent in Akamai's globally distributed cloud delivery platform. 3. ACQUISITIONS: In May, Salesforce announced that it had completed its acquisition of MuleSoft after announcing in March a definitive agreement under which it would acquire the company for an enterprise value of approximately $6.5B. Salesforce said, "With MuleSoft, Salesforce will accelerate customers' digital transformations, enabling them to unlock data across legacy systems, cloud apps and devices to make smarter, faster decisions and create highly differentiated, connected experiences for their customers." In July, Salesforce announced it had signed a definitive agreement to acquire Datorama, which chief analytics officer Bob Stutz called "the leading cloud-based, AI-powered marketing intelligence and analytics platform for enterprises, agencies and publishers." In a blog post, he said, "Datorama enables more than 3,000 leading global agencies and brands...to optimize marketing campaigns, automate reporting and make data-driven decisions faster. Salesforce's acquisition of Datorama will enhance the power of Marketing Cloud with expanded data integration and intelligence, enabling marketers to unlock insights across all of their marketing channels and data sources. With one unified view of data and insights, companies can make smarter decisions across the entire customer journey and optimize engagement at scale," Stutz said. 4. CO-CEO APPOINTMENT: In August, Salesforce announced that the company's board promoted Keith Block to co-CEO. Block, who remains a member of the board, most recently served as the company's chief operating officer since February 2016. In their respective roles as co-CEOs, Marc Benioff, who continues as chairman of the board, leads Salesforce's vision and innovation in areas including technology, marketing, stakeholder engagement and culture and Block leads the company's growth strategy, execution and operations.

CRM

Salesforce

$154.57

1.595 (1.04%)

AKAM

Akamai

$74.91

0.5 (0.67%)

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CRM Salesforce
$154.57

1.595 (1.04%)

08/21/18
COWN
08/21/18
NO CHANGE
Target $165
COWN
Outperform
Salesforce price target raised to $165 from $155 at Cowen
Cowen analyst J. Derrick Wood raised his price target on Salesforce to $165 from $155 ahead of Q2 results. The analyst said channel checks indicate a solid beat and raise set-up, citing a re-acceleration in Sales and Service Cloud, growing Einstein adoption, and lower competition. Wood reiterated his Outperform rating on Salesforce shares.
08/22/18
JEFF
08/22/18
NO CHANGE
Target $168
JEFF
Buy
Salesforce price target raised to $168 from $155 at Jefferies
Jefferies analyst John DiFucci raised his price target for Salesforce to $168 ahead of the company's Q2 results. The analyst expects Salesforce meet or exceed consensus Q2 billings growth of 22%. Enterprise checks reflect strong results, particularly in Europe and across verticals, and a "healthy" second half of 2018 pipeline, DiFucci tells investors in a pre-earnings research note. The analyst keeps a Buy rating on the shares.
08/22/18
WEDB
08/22/18
NO CHANGE
Target $160
WEDB
Outperform
Salesforce price target raised to $160 from $150 at Wedbush
Wedbush analyst Steve Koenig raised his price target for Salesforce to $160 from $150 as his checks point to a strong demand environment and sustained momentum for Salesforce. While the analyst does not have evidence to suggest a repeat of the Q1 large deal performance, his checks anecdotally point to large deals closed in major verticals, and more in the pipeline. Koenig expects Salesforce's Q2 numbers will be strong, although the run-up in the shares year to date and over the last 90 days may create a more difficult setup. The analyst reiterates an Outperform rating on the shares.
08/22/18
RBCM
08/22/18
NO CHANGE
Target $155
RBCM
Outperform
Salesforce price target raised to $155 from $146 at RBC Capital
RBC Capital analyst Ross MacMillan raised his price target on Salesforce to $155 and kept his Outperform rating, saying his checks suggest continued "strong demand, success in multi-cloud deals at enterprise customers and pricing power". The analyst notes that the set-up on the stock is also "attractive" considering the implied organic constant-currency billings growth of around 15%. MacMillan adds that Salesforce has a historical pattern of beating Q2 consensus by about 5%, though this year's results may be skewed by the adoption of ASC606 standard.
AKAM Akamai
$74.91

0.5 (0.67%)

08/01/18
MKMP
08/01/18
NO CHANGE
Target $91
MKMP
Buy
Akamai pullback a buying opportunity, says MKM Partners
MKM Partners analyst Rob Sanderson kept his Buy rating and $91 price target on Akamai after its Q2 results, saying the pullback in the stock price from lower Q3 outlook may be a buying opportunity. Sanderson notes that the company's investment story remains intact with a lengthy opportunity for continued growth, also pointing to its operating expense efficiency, traction of new products, positive traffic trends, and stock buyback program.
08/13/18
FBCO
08/13/18
DOWNGRADE
FBCO
Neutral
Akamai downgraded to Neutral from Outperform at Credit Suisse
08/13/18
FBCO
08/13/18
DOWNGRADE
Target $84
FBCO
Neutral
Credit Suisse downgrades Akamai to Neutral after 29% rally
Credit Suisse analyst Brad Zelnick downgraded Akamai Technologies to Neutral from Outperform and lowered his price target for the shares to $84 from $88. The shares closed Friday down $2.18 to $74.66. With the stock up 29% since Elliott Management's disclosure of a stake on December 15, 2017, many of the catalysts have played out, Zelnick tells investors in a research note. The analyst views the stock's risk/reward as "increasingly balanced" at current levels. Further, he thinks "forthcoming headwinds may overshadow longer-term upside potential and challenge investors' confidence near term." Zelnick sees near-term headwinds coming from difficult comparisons in 2019 and continued momentum among asset-light competitors like Fastly and Cloudflare.
08/13/18
08/13/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Rite Aid (RAD) downgraded to Market Perform from Outperform at Cowen with analyst Charles Rhyee saying shares of Ride Aid adequately reflect its outlook, following the termination of the company's merger with Albertsons. 2. Akamai (AKAM) downgraded to Neutral from Outperform at Credit Suisse with analyst Brad Zelnick saying with the stock up 29% since Elliott Management's disclosure of a stake on December 15, 2017, many of the catalysts have played out. 3. Alnylam (ALNY) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Terence Flynn saying the lack of cardio data in the approved U.S. label for Onpattro is disappointing and could represent a disadvantage versus Pfizer's (PFE) competitor drug Tafamadis. 4. Goodyear Tire (GT) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Armintas Sinkevicius saying he remains "constructive" on the long-term growth for global miles traveled, but believes this will not affect the stock for the next 12 months due to the overhang from estimate achievability. 5. Dish (DISH) downgraded to Sell from Neutral at MoffettNathanson with analyst Craig Moffett saying while the reported Q2 business conditions in the core satellite TV business were "genuinely better" amid reduced churn and slower subscriber losses, the Spectrum segment -- which holds "all" of the company's equity value -- is worse. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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CarMax

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$75.95

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Intelsat

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