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SAP

SAP

$108.33

0.72 (0.67%)

, XM

Qualtrics

$0.00

(0.00%)

18:29
11/11/18
11/11
18:29
11/11/18
18:29

SAP to acquire Qualtrics International for $8B in cash

SAP (SAP) and Qualtrics International (XM) announced they have entered into a definitive agreement under which SAP SE intends to acquire Qualtrics, the global pioneer of the experience management software category that enables organizations to thrive in today's experience economy. Qualtrics' XM Platform collects feedback and data across the four vital areas of a business - customers, employees, product and brand - that are essential in a world where companies succeed or fail based on the experiences they deliver. Under the terms of the agreement, SAP will acquire all outstanding shares of Qualtrics for $8B in cash. SAP has secured financing in the amount of EUR$7B to cover purchase price and acquisition-related costs. The purchase price includes unvested employee incentive compensation and cash on the balance sheet at close. Subject to customary closing conditions and attainment of regulatory clearances, the acquisition is expected to close in the first half of 2019. The Boards of Directors of SAP and Qualtrics have approved the transaction. Qualtrics' shareholders have also approved the transaction. Qualtrics expects full-year 2018 revenue to exceed $400Mand projects a forward growth rate of greater than 40%, not including potential synergies of being part of SAP. Following the closing of the transaction, Qualtrics is expected to maintain its leadership, personnel, branding and culture, operating as an entity within SAP's Cloud Business Group. Ryan Smith will continue to lead Qualtrics, and Qualtrics is expected to continue to maintain dual headquarters in Provo, Utah, and Seattle, Washington.

SAP

SAP

$108.33

0.72 (0.67%)

XM

Qualtrics

$0.00

(0.00%)

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SAP SAP
$108.33

0.72 (0.67%)

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.
11/06/18
JMPS
11/06/18
INITIATION
Target $29
JMPS
Outperform
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.
XM Qualtrics
$0.00

(0.00%)

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TECH

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$163.24

1.16 (0.72%)

, A

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ATVI

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, EA

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EA, Activision struggling to survive a Fortnite World, Barron's says »

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AIMT

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$0.00

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PHM

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Z

Zillow

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0.35 (1.04%)

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RDFN

Redfin

$18.49

0.48 (2.67%)

DDAIF

Daimler AG

$0.00

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FCAU

Fiat Chrysler

$16.78

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F

Ford

$8.59

0.23 (2.75%)

GM

General Motors

$38.63

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MGA

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ASLN

Aslan Pharmaceuticals

$3.55

(0.00%)

, FPRX

Five Prime

$11.20

0.53 (4.97%)

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American Society of Clinical Oncology to hold a symposium »

ASCO GI 2019 Symposium…

ASLN

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$3.55

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FPRX

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KURA

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ZLAB

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$25.98

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TCCO

Technical Comm Corp

$2.61

-0.19 (-6.79%)

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Technical Comm Corp reports notice of failure to satisfy Nasdaq rule »

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SNAP

Snap

$6.19

0.455 (7.93%)

17:38
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Snap exec fired due to undisclosed relationship with consultant, Cheddar says »

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SSW

Seaspan

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0.16 (1.78%)

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TXT

Textron

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Textron subsidiary awarded $439.56M government contract modification »

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TAC

TransAlta

$4.91

0.04 (0.82%)

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Mangrove Partners reports 9.4% passive stake in TransAlta »

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TDS

Telephone and Data

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0.42 (1.17%)

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Telephone and Data's Meyers sells 80,465 common shares »

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GWPH

GW Pharmaceuticals

$137.24

2.59 (1.92%)

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FCSC

Fibrocell Science

$2.03

0.03 (1.50%)

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ENLC

EnLink Midstream

$11.75

0.4 (3.52%)

, ENLK

EnLink Midstream Partners

$13.58

0.51 (3.90%)

16:49
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EnLink Midstream Partners to hold a special shareholder meeting »

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ENLC

EnLink Midstream

$11.75

0.4 (3.52%)

ENLK

EnLink Midstream Partners

$13.58

0.51 (3.90%)

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FDX

FedEx

$176.97

3.72 (2.15%)

16:49
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ENLK

EnLink Midstream Partners

$13.58

0.51 (3.90%)

, ENLC

EnLink Midstream

$11.75

0.4 (3.52%)

16:48
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Conference/Events
EnLink Midstream Companies to hold a special shareholder meeting »

Special Shareholder…

ENLK

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$13.58

0.51 (3.90%)

ENLC

EnLink Midstream

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0.4 (3.52%)

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MKL

Markel

$1,067.03

13.52 (1.28%)

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NILSY

Norilsk Nickel

$0.00

(0.00%)

16:35
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16:35
Downgrade
Norilsk Nickel rating change at Goldman Sachs »

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JNJ

Johnson & Johnson

$130.65

1.54 (1.19%)

, ABBV

AbbVie

$89.51

2.28 (2.61%)

16:33
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ABBV

AbbVie

$89.51

2.28 (2.61%)

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FOMX

Foamix

$3.70

-0.14 (-3.65%)

16:32
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Conference/Events
Foamix to host research and development day »

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