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PLAN

Anaplan

$23.95

-0.77 (-3.11%)

, ORCL

Oracle

$49.02

0.2 (0.41%)

07:29
11/06/18
11/06
07:29
11/06/18
07:29

Anaplan initiated with an Outperform at JMP Securities

JMP Securities analyst Patrick Walravens initiated Anaplan (PLAN) with an Outperform rating and $29 price target, stating that he believes it is well-positioned to increase its share of the worldwide performance management and analytic applications software market from about 1% today to about 3% in 2022. He sees the company being able to take share from Excel-based solutions, homegrown products, and incumbents such as Oracle (ORCL), IBM (IBM), and SAP (SAP), Walravens added.

PLAN

Anaplan

$23.95

-0.77 (-3.11%)

ORCL

Oracle

$49.02

0.2 (0.41%)

IBM

IBM

$120.05

4.36 (3.77%)

SAP

SAP

$107.72

0.21 (0.20%)

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PLAN Anaplan
$23.95

-0.77 (-3.11%)

11/06/18
PIPR
11/06/18
INITIATION
Target $28
PIPR
Overweight
Anaplan initiated with an Overweight at Piper Jaffray
Piper Jaffray analyst Alex Zukin started Anaplan with an Overweight rating and $28 price target. The analyst believes a combination of market leadership, a large total addressable market and favorable competitive dynamics can drive sustained 30%-plus revenue growth, with the potential for acceleration if the company's sales force productivity continues to improve.
11/06/18
GSCO
11/06/18
INITIATION
Target $25
GSCO
Neutral
Anaplan initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Heather Bellini started Anaplan with a Neutral rating and $25 price target. The analyst sees limited upside to current valuation levels.
11/06/18
NEED
11/06/18
INITIATION
Target $30
NEED
Buy
Anaplan initiated with a Buy at Needham
Needham analyst Scott Berg initiated Anaplan with a Buy rating and a price target of $30, saying the stock is a "compelling hyper-growth story" in a segment where customers are looking to migrate to a Cloud model. The analyst notes that the company's "Hyperblock modeling engine" is a "differentiated technology that supports a wide range of use cases" in the enterprise and should allow Anaplan to "capture a disproportionate share of a large total addressable market". Berg adds the Anaplan's management has accelerated its investments in support of his expected "best-in-class growth over the next several years".
11/06/18
KEYB
11/06/18
INITIATION
KEYB
Sector Weight
Anaplan initiated with a Sector Weight at KeyBanc
KeyBanc analyst Brent Bracelin started Anaplan with a Sector Weight on valuation. Demand drivers for cloud planning software are robust entering 2019 based on the pace of digital disruption and economic volatility, which have created mounting pressure on business leaders to accelerate the decision-making process, he notes. The analyst believes Anaplan has emerged as the leader in cloud planning software with a $231M run-rate last quarter, growing 40.8% year over year.
ORCL Oracle
$49.02

0.2 (0.41%)

10/29/18
STFL
10/29/18
DOWNGRADE
Target $190
STFL
Hold
Stifel downgrades Red Hat to Hold, but sees potential for competing bid
Stifel analyst Brad Reback downgraded Red Hat (RHT) to Hold from Buy after IBM (IBM) announced an agreement to acquire the company for $190 per share. Stating that he is not aware of any M&A talks, Reback added that he would not be surprised if a hyperscale cloud vendor such as Google (GOOGL), Amazon (AMZN), Microsoft (MSFT) or Oracle (ORCL) to make a competing bid given Red Hat's strategic position within on-premise datacenters. Reback raised his price target on Red Hat shares from $160 to the announced deal price of $190.
10/26/18
NOMU
10/26/18
NO CHANGE
Target $53
NOMU
Buy
Oracle price target lowered to $53 from $58 at Nomura Instinet
Nomura Instinet analyst Christopher Eberle lowered his price target for Oracle to $53 and keeps a Buy rating on the shares following the company's Open World convention and analyst day. The analyst says that while he appreciates the use of case performance scenarios highlighted by management throughout the week, the investment community has grown frustrated with the "sizable disconnect between management's sanguine commentary and another year of little to zero top-line growth."
10/23/18
NEED
10/23/18
INITIATION
NEED
Hold
Oracle initiated with a Hold at Needham
As reported earlier, Needham analyst Jack Andrews initiated Oracle with a Hold rating as part of his broader infrastructure software research note. The analyst notes that he is positive on the company's "potential and resources to become a significant force in next generation cloud computing environments," but prefers to await a "more consistent record of quarterly financial results meeting guidance" before taking a more constructive stance.
10/23/18
NEED
10/23/18
INITIATION
NEED
Buy
Red Hat, Pivotal Software, ServiceNow initiated with a Buy at Needham
As reported earlier, Needham analyst Jack Andrews initiated Red Hat (RHT), Pivotal Software (PVTL), and ServiceNow (NOW) with Buy ratings as part of his broader research note on select cloud-driven infrastructure software companies. The analyst notes that he expects new proprietary applications to generate rapid growth of cloud-based workloads, making the "platform as a service", or PaaS, market "one of the fastest growing segments in the technology stack". Andrews also points out that in addition to allowing "enterprises to run machine learning and deep learning algorithms in order to glean insights on how to improve customer experiences", a unique characteristic of infrastructure software companies is their pricing model driven by "per compute" or "consumption basis". The analyst contends that this makes them an attractive investment as "an infrastructure software vendor can maintain a long tail of growth within an enterprise by continuing to add licenses". Andrews assigns Red Hat a price target of $183, Pivotal Software a target of $25, and ServiceNow a price target of $224.
IBM IBM
$120.05

4.36 (3.77%)

10/30/18
UBSW
10/30/18
NO CHANGE
Target $150
UBSW
Buy
IBM price target lowered to $150 from $180 at UBS
UBS analyst John Roy lowered his price target on IBM (IBM) to $150 from $180 following its announced deal to buy Red Hat (RHT). The analyst likes the deal and expects investors will see it as a step in the right direction with investors sentiment improving and the company showing it is not afraid to make changes. Roy reiterated his Buy rating on IBM shares.
11/05/18
NEED
11/05/18
DOWNGRADE
NEED
Hold
Red Hat downgraded to Hold from Buy at Needham
Needham analyst Jack Andrews downgraded Red Hat (RHT) to Hold and removed his prior $183 price target after the company's announced acquisition by IBM (IBM). With both boards having approved the deal, the analyst expects the purchase to close in the second half of 2019, adding that the remaining upside for the stock to the $190 per share deal price is insufficient to continue with his Buy rating.
11/05/18
KEYB
11/05/18
DOWNGRADE
KEYB
Sector Weight
Red Hat downgraded to Sector Weight from Overweight at KeyBanc
KeyBanc analyst Alex Kurtz downgraded Red Hat (RHT) to Sector Weight from Overweight after IBM (IBM) announced an acquisition offer for $190 per share. The analyst sees minimal upside to the takeout price of $190, or about $34B in enterprise value, for a transaction that will close in 2H19 and sees minimal potential for another strategic acquirer making a second, larger offer.
10/30/18
SBSH
10/30/18
DOWNGRADE
Target $190
SBSH
Neutral
Red Hat downgraded to Neutral from Buy at Citi
Citi analyst Walter Pritchard downgraded Red Hat (RHT) to Neutral while raising his price target for the shares to $190 to reflect IBM's proposed buyout. The analyst does not foresee a likely topping bid.
SAP SAP
$107.72

0.21 (0.20%)

10/11/18
DBAB
10/11/18
NO CHANGE
DBAB
SAP named a new catalysts long at Deutsche Bank
Deutsche Bank named SAP a new catalyst long following the selloff in shares saying the underlying demand environment remains supportive based on industry checks.
10/17/18
BERN
10/17/18
UPGRADE
BERN
Outperform
Workday upgraded to Outperform on long-term growth at Bernstein
As previously reported, Bernstein analyst Mark Moerdler upgraded Workday (WDAY) to Outperform from Market Perform. After looking into the ERP market in his recent multi-part ERP Primer series, the analyst has determined that even if the ERP market moves reasonably slowly to the Cloud, it is large enough and the fact there are only a few vendors with a competitive SaaS solution should allow Workday to continue to gain share. In fact, Moerdler believes that the market is large enough that even if Workday does not take customers from Oracle (ORCL) or SAP (SAP), it can still grow its subscription revenue with a 24%-36% 5-year CAGR through 2022.
10/22/18
UBSW
10/22/18
UPGRADE
UBSW
Buy
SAP upgraded to Buy from Neutral at UBS
UBS analyst Michael Briest upgraded SAP to Buy and raised his price target for the shares to EUR 110 from EUR 108 following last week's Q3 results. The company deserves credit for sustaining 6%-10% underlying sales growth over the past 12 quarters, with "impressive" cloud growth at scale, Briest tells investors in a research note titled "Reality checked. Upgrade to Buy." Further, the analyst sees signs that SAP's cash flow will improve in 2019 as spending growth moderates.
10/22/18
10/22/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Intel (INTC) upgraded to Buy from Neutral at Nomura Instinet with analyst Romit Shah saying he believes Intel is a buy at current share levels. 2. AT&T (T) upgraded to Buy from Neutral at Tigress Financial with analyst Ivan Feinseth saying the upcoming launch of its high-speed 5G wireless communication network and the integration of Time Warner's content "creates a significant investment opportunity." 3. M&T Bank (MTB) upgraded to Overweight from Neutral at Piper Jaffray with analyst Kevin Barker saying this quarter, M&T's deposit base remained steady, its loan/deposit ratio declined and management felt confident the ratio would remain in the 95%-100% range for the foreseeable future. 4. Chipotle (CMG) upgraded to Outperform from Sector Perform at RBC Capital with analyst David Palmer saying while Q3 earnings may be "lackluster," he expects comps to improve from 4% to 6% through the second half of FY19 and raises his FY20 EPS vie to $16.30 from $15.86 on implied 3-turn multiple increase to 31-times forward earnings. 5. SAP (SAP) upgraded to Buy from Neutral at UBS with analyst Michael Briest saying the company deserves credit for sustaining 6%-10% underlying sales growth over the past 12 quarters, with "impressive" cloud growth at scale. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

DDAIF

Daimler AG

$0.00

(0.00%)

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BTI

British American Tobacco

$37.04

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AIBRF

AIB Group

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AAPL

Apple

$192.23

-1.925 (-0.99%)

, LITE

Lumentum

$38.95

1.445 (3.85%)

05:42
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$192.23

-1.925 (-0.99%)

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$38.95

1.445 (3.85%)

QRVO

Qorvo

$63.68

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AMZN

Amazon.com

$1,631.68

-5.02 (-0.31%)

05:38
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05:38
Periodicals
Amazon decided to split HQ2 in two in September, WSJ reports »

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RMED

Ra Medical Systems

$8.16

-0.455 (-5.28%)

05:33
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REGN

Regeneron

$342.12

-4.45 (-1.28%)

05:30
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PAAS

Pan American Silver

$14.13

-0.14 (-0.98%)

, TAHO

Tahoe Resources

$2.20

-0.055 (-2.44%)

05:28
11/14/18
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05:28
Hot Stocks
Pan American Silver to acquire Tahoe Resources for $3.40 per share »

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PAAS

Pan American Silver

$14.13

-0.14 (-0.98%)

TAHO

Tahoe Resources

$2.20

-0.055 (-2.44%)

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BHVN

Biohaven Pharmaceutical

$36.88

0.46 (1.26%)

05:20
11/14/18
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05:20
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05:20
Earnings
Breaking Earnings news story on Biohaven Pharmaceutical »

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BRKR

Bruker

$32.65

-0.21 (-0.64%)

05:19
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Hot Stocks
Bruker agrees to acquire Alicona Imaging GmbH, terms not disclosed »

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ESLT

Elbit Systems

$120.29

-1.45 (-1.19%)

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Elbit Systems awarded $167M contract from Asia-Pacific country »

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FTI

TechnipFMC

$23.53

-1.24 (-5.01%)

, CVX

Chevron

$115.35

-2.12 (-1.80%)

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CVX

Chevron

$115.35

-2.12 (-1.80%)

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General news
Oil prices erased losses »

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SERV

ServiceMaster

$43.03

0.545 (1.28%)

05:14
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SPGI

S&P Global

$180.07

-2.08 (-1.14%)

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RENN

Renren

$1.53

0.08 (5.52%)

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MCO

Moody's

$148.05

-2.03 (-1.35%)

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K

Kellogg

$63.48

-0.81 (-1.26%)

05:08
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05:08
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Kellogg rating change  »

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WYGPY

WorleyParsons

$0.00

(0.00%)

05:05
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SURRY

Sun Art Retail Group

$0.00

(0.00%)

05:02
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05:02
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CTT

CatchMark Timber

$9.14

0.045 (0.49%)

04:59
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FLXN

Flexion

$16.40

0.17 (1.05%)

04:55
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Flexion management to meet with RBC Capital »

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CRL

Charles River

$131.47

-2.125 (-1.59%)

, CRVS

Corvus Pharmaceuticals

$7.24

-0.28 (-3.72%)

04:55
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European Organization for Research & Treatment of Cancer to hold symposium »

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CRL

Charles River

$131.47

-2.125 (-1.59%)

CRVS

Corvus Pharmaceuticals

$7.24

-0.28 (-3.72%)

XCUR

Exicure

$0.00

(0.00%)

ZYME

Zymeworks

$13.04

-0.2 (-1.51%)

ARWR

Arrowhead

$12.48

-0.35 (-2.73%)

ALRN

Aileron Therapeutics

$2.21

0.33 (17.55%)

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BBT

BB&T

$51.07

0.53 (1.05%)

04:55
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04:55
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04:55
Conference/Events
BB&T to hold investor day »

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