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EB

Eventbrite

$28.16

-0.82 (-2.83%)

, SVMK

SurveyMonkey

$12.46

1.135 (10.02%)

14:42
11/14/18
11/14
14:42
11/14/18
14:42

Tiger Global takes stake in Eventbrite, exits GDS Holdings in Q3

Chase Coleman's Tiger Global disclosed in an SEC filing its holdings as of September 30, 2018. Tiger's eight new buys during the third quarter included Eventbrite (EB), SVMK (SVMK), Apple (AAPL), Zendesk (ZEN), and Twilio (TWLO). Tiger exited one position during the quarter, GDS Holdings (GDS). Tiger increased its stake in 13 holdings, including by size of previous position, Alibaba (BABA), Adobe (ADBE), ServiceNow (NOW), MongoDB (MDB), and Sea Ltd (SE). Tiger reduced its stake in eight holdings, including by size of previous position, Twitter (TWTR), Facebook (FB), Despegar.com (DESP), TransDigm (TDG), and MercadoLibre (MELI). Tiger's top holdings as of September 30, 2018, in order of size, were Amazon (AMZN), Spotify (SPOT), Microsoft (MSFT), JD.com (JD), and Booking Holdings (BKNG).

EB

Eventbrite

$28.16

-0.82 (-2.83%)

SVMK

SurveyMonkey

$12.46

1.135 (10.02%)

AAPL

Apple

$187.24

-4.99 (-2.60%)

ZEN

Zendesk

$53.05

0.49 (0.93%)

TWLO

Twilio

$82.93

-2.14 (-2.52%)

GDS

GDS Holdings

$28.68

2.99 (11.64%)

BABA

Alibaba

$149.72

2.89 (1.97%)

ADBE

Adobe

$235.01

-3.84 (-1.61%)

NOW

ServiceNow

$168.37

-0.225 (-0.13%)

MDB

MongoDB

$72.75

3.37 (4.86%)

SE

Sea Limited

$12.30

-0.15 (-1.20%)

TWTR

Twitter

$32.96

0.47 (1.45%)

FB

Facebook

$143.38

1.19 (0.84%)

DESP

Despegar.com

$16.07

-0.14 (-0.86%)

TDG

TransDigm

$340.65

-4.89 (-1.42%)

MELI

MercadoLibre

$337.42

9.36 (2.85%)

AMZN

Amazon.com

$1,610.00

-21.68 (-1.33%)

SPOT

Spotify

$133.07

1.38 (1.05%)

MSFT

Microsoft

$105.44

-1.03 (-0.97%)

JD

JD.com

$22.70

0.32 (1.43%)

BKNG

Booking Holdings

$1,900.00

-9.82 (-0.51%)

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EB Eventbrite
$28.16

-0.82 (-2.83%)

10/15/18
RHCO
10/15/18
INITIATION
Target $30
RHCO
Hold
Eventbrite initiated with a Hold at SunTrust
SunTrust analyst Youssef Squali initiated Eventbrite with a Hold rating and a price target of $30, saying the company stands to benefit from "growing preferences for live experiences among younger audiences, migration of event creation, ticket processing and promotion to online from offline". The analyst estimates the company's current "serviceable addressable market" at $3.4B and its total addressable market at about $14B, but also notes its valuation of 45.5-times enterprise value to expected FY19 EBITDA capturing its positive prospects.
10/15/18
JPMS
10/15/18
INITIATION
Target $31
JPMS
Neutral
Eventbrite initiated with a Neutral at JPMorgan
JPMorgan analyst Doug Anmuth started Eventbrite with a Neutral rating and $31 price target. The analyst expects the company's organic growth to "remain solid" at 20% but views the current valuation as fair.
10/15/18
10/15/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. CalAmp (CAMP) initiated with a Hold at Jefferies. 2. Eventbrite (EB) initiated with an Outperform at RBC Capital, a Buy at Stifel, a Hold at SunTrust, as well as a Neutral at JPMorgan and Goldman Sachs. 3. X Financial (XYF) initiated with an Equal Weight at Morgan Stanley and a Hold at Deutsche Bank. 4. Bank7 (BSVN) initiated with an Outperform at Keefe Bruyette and an Overweight at Stephens. 5. Elanco (ELAN) initiated with an Outperform at Cowen, an Overweight at JPMorgan, an Equal Weight at Morgan Stanley, as well as a Neutral at Credit Suisse, BofA/Merrill, Goldman Sachs. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/15/18
RBCM
10/15/18
INITIATION
Target $37
RBCM
Outperform
Eventbrite initiated with an Outperform at RBC Capital
RBC Capital analyst Mark Mahaney initiated Eventbrite with an Outperform rating and a price target of $37. The analyst cites the company's position to address a "very large and fragmented total market opportunity with powerful secular tailwinds" and believes that it can leverage its efficient business model to drive margin expansion. Mahaney further notes that Eventbrite's enterprise value to expected FY20 sales multiple of about 5-times is "reasonably valued".
SVMK SurveyMonkey
$12.46

1.135 (10.02%)

10/22/18
FBCO
10/22/18
INITIATION
Target $13
FBCO
Neutral
SurveyMonkey initiated with a Neutral at Credit Suisse
Credit Suisse analyst Stephen Ju started SurveyMonkey with a Neutral rating and $13 price target. Given SurveyMonkey's core proposition is to help businesses gather external and internal data to make more informed strategic decisions, the analyst believes it remains a valuable and critical asset. Furthermore, following its investments in 2017 to upgrade its product suite for enterprise consumption, Ju believes it is at only the initial stages of a harvest cycle. That said, with the stock currently trading within 10% of his target price, the analyst is on the sidelines waiting for a more favorable entry point.
10/22/18
RHCO
10/22/18
INITIATION
Target $16
RHCO
Buy
SurveyMonkey initiated with a Buy at SunTrust
SunTrust analyst Youssef Squali initiated SurveyMonkey (SVMK) with a Buy rating and a price target of $16, saying the company is "effectively leveraging its brand, 'freemium' product, large registered user base and infrastructure to sustainably grow revenues double digits". The analyst expects the company to gain market share in the intelligence business while also citing the visibility of its cash flows from its subscription-based business model. Squali sees further opportunity for growth for SurveyMonkey coming from its enterprise upsell initiative and partnership with Salesforce (CRM).
11/13/18
WELS
11/13/18
INITIATION
Target $13
WELS
Market Perform
SurveyMonkey initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Ivy Cong started SurveyMonkey with a Market Perform rating and $13 price target. As an established category leader from an efficient self-serve revenue model to a growth story driven by expanding enterprise sales, SurveyMonkey makes for a compelling investment case, he contends. However, the analyst believes that these factors are adequately priced into the current share price, especially considering the company's below-average revenue growth versus SaaS peers.
10/22/18
10/22/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Domino's Pizza (DPZ) initiated with a Neutral at UBS. 2. Arco Platform (ARCE) initiated with an Overweight at Morgan Stanley, an Outperform at Itau BBA, and a Buy at Goldman Sachs. 3. Arvinas (ARVN) initiated with a Neutral at Goldman Sachs and an Overweight at Piper Jaffray. 4. Ra Medical Systems (RMED) initiated with a Buy at SunTrust as well as an Overweight at Cantor Fitzgerald and Piper Jaffray. 5. SurveyMonkey (SVMK) initiated with a Buy at SunTrust and BofA/Merrill, an Overweight at JPMorgan, and a Neutral at Credit Suisse and UBS. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
AAPL Apple
$187.24

-4.99 (-2.60%)

11/14/18
11/14/18
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. Apple (AAPL) downgraded to Neutral from Buy at Guggenheim with analyst Robert Cihra saying the average selling price of the iPhone has increased a "dramatic" $220, or 40%, over the past 10 years, reflecting its "growing value to both consumer and business markets." 2. Kellogg (K) downgraded to Neutral from Overweight at JPMorgan with analyst Ken Goldman saying that while nothing at the company's investor day "necessarily disappointed" him, he also did not gain "much comfort that the bottom-line turnaround would be swift." 3. Apollo Global (APO) and Carlyle Group (CG) were downgraded to Equal Weight from Overweight at Morgan Stanley. 4. Conagra Brands (CAG) downgraded to Underperform from Market Perform at Bernstein with analyst Alexia Howard saying the frozen category has experienced positive growth over the past year, largely led by new product innovation from Conagra and Pinnacle Foods, but this now seems to be running out of steam. 5. Tenneco (TEN) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Armintas Sinkevicius citing its elevated leverage and limited free cash flow conversion in what he views as an increasingly uncertain environment for auto suppliers. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/14/18
LOOP
11/14/18
NO CHANGE
Target $85
LOOP
Buy
Qorvo price target lowered to $85 from $90 at Loop Capital
Loop Capital analyst Cody Acree lowered his price target on Qorvo (QRVO) to $85 after its reduced Q3 guidance, saying the "softer unit volumes" sold by Apple (AAPL) were "undoubtedly the primary unnamed specific cause". The analyst is keeping his Buy rating on the shares however, stating that the "tier-1 smartphone unit weakness is becoming a common theme" that is generating lesser impact with each news release as evidenced by Qorvo's shares trading flat yesterday. Acree adds that investors should start to "pick their spots for 2019" amid the smartphone industry's start of migration to 5G and believes that Qorvo is "well positioned to continue to gain share at the leading tier-1 handset OEMs".
11/14/18
ADAM
11/14/18
NO CHANGE
Target $83
ADAM
Buy
Qorvo price target lowered to $83 from $90 at Canaccord
Canaccord analyst T. Michael Walkley lowered his price target on Qorvo (QRVO) to $83 from $90 after the company lowered its guidance, as several Apple (AAPL) suppliers have done. He expects Qorvo to continue focusing on developing integrated solutions to drive dollar content growth faster than the slow growing smartphone market and anticipates improving growth trends as 5G ramps long-term. Walkley reiterated his Buy rating on Qorvo shares.
11/14/18
DADA
11/14/18
NO CHANGE
Target $72
DADA
Neutral
Qorvo price target lowered to $72 from $81 at DA Davidson
DA Davidson analyst Thomas Diffely lowered his price target on Qorvo (QRVO) to $72 and kept his Neutral rating after the company cut its Q3 earnings guidance to reflect the expectations of a weaker high-end smartphone demand. The analyst believes that the "softer than expected" launch of the new iPhones by Apple (AAPL) has " triggered a rapid change in order flow over the past couple of weeks" and anticipates similar announcements from other Apple suppliers to track reduced guidance by Qorvo and Lumentum (LITE).
ZEN Zendesk
$53.05

0.49 (0.93%)

11/08/18
JEFF
11/08/18
NO CHANGE
Target $82
JEFF
Buy
Zendesk one of the most attractive mid-cap growth stocks, says Jefferies
After hosting investor meetings with management, Jefferies analyst Samad Samana says he views Zendesk as one of the most attractive mid-cap growth stocks. He reiterates a Buy rating on the shares with an $82 price target. The stock has been weak along with the rest of software recently, but its fundamental outlook remains positive, Samana tells investors in a research note. He believes the "clearest benefit" of the bundled Zendesk Suite pricing is that it allows the company to better monetize its non-Support products more quickly.
10/08/18
DBAB
10/08/18
INITIATION
DBAB
Buy
Zendesk initiated with a Buy at Deutsche Bank
Deutsche Bank analyst Michael Turrin initiated Zendesk with a Buy rating and $85 price target, and called the stock a top SMID-Cap pick.
10/10/18
KEYB
10/10/18
NO CHANGE
KEYB
Shopify, Salesforce should be bought on October pullback, says KeyBanc
KeyBanc analyst Brent Bracelin notes that the 55 largest SaaS stocks had an incredible run through the end of Q3, as the group benefited from robust secular tailwinds and multiple expansion with forward EV/S levels increasing by two full turns above the five-year average. That said, the "Big Chill" has quickly set in during the first nine days of October as the group is down 11% this month and 21% from the highs, on average, he adds. The analyst has identified eight high-quality SaaS stocks that he would buy on the October pullback based on attractive risk-reward and growth profiles looking out into 2020, namely Shopify (SHOP), Salesforce (CRM), Twilio (TWLO), Wix.com (WIX), Zendesk (ZEN), BlackLine (BL), Avalara (AVLR), and Mindbody (MB).
10/15/18
PIPR
10/15/18
NO CHANGE
Target $72.5
PIPR
Overweight
Zendesk pullback a buying opportunity ahead of results, says Piper Jaffray
Piper Jaffray analyst Alex Zukin views the 13% pullback in shares of Zendesk this month as a buying opportunity ahead of the company's Q3 results on October 30. The analyst sees "no shift in fundamentals" and continues to view Zendesk as one of the best positioned companies to catalyze the digital transformation of customer experience. Channel checks suggest another healthy enterprise quarter, with increasing confidence as the company continues to execute on a "robust" second half of 2018 pipeline, Zukin tells investors in a research note. He reiterates an Overweight rating on the shares with a $72.50 price target.
TWLO Twilio
$82.93

-2.14 (-2.52%)

11/12/18
WBLR
11/12/18
NO CHANGE
WBLR
Outperform
William Blair still sees value in owning shares of Twilio
After taking a fresh look at Twilio's valuation following last week's post-earnings rally, William Blair analyst Bhavan Suri believes "there is still value in owning the stock." While the 35% rally on earnings "was probably a bit overdone," consensus expectations for 2019 and 2020 could prove conservative, Suri tells investors in a research note titled "Dreaming the Dream." The analyst says that if he were to assume Twilio can grow revenues 40% in 2019 and 30% in 2020, he would consider a cumulative growth rate of roughly 80% over the next two years. Applying an enterprise value of 10 times this forward revenue estimate, Suri says he would be able to justify a stock price of roughly $110. The analyst remains positive on Twilio's long-term fundamentals and thinks that "accumulating shares on any significant rationalization of the recent move makes sense." He keeps an Outperform rating on the name.
11/12/18
OPCO
11/12/18
NO CHANGE
Target $110
OPCO
Outperform
Twilio price target raised to $110 form $90 at Oppenheimer
Oppenheimer analyst Ittai Kidron raised his price target for Twilio to $110 from $90 following another "exceptional" earnings report. The analyst believes consensus expectations still underestimate top-line growth potential, and sees at least $60M-$80M/$160M-$180M of upside to FY19/20 consensus factoring in a decline in net dollar expansion rate from the mid-140% range in FY18 to the mid-130%/120% range in FY19/20, respectively. Kidron reiterates an Outperform rating on the shares.
11/07/18
ADAM
11/07/18
NO CHANGE
Target $90
ADAM
Buy
Twilio price target raised to $90 from $80 at Canaccord
Canaccord analyst Richard Davis raised his price target on Twilio to $90 from $80 following Q3 results he called "solid." Davis reiterated his Buy rating on Twilio shares, citing the company's significant leverage, revenue growth potential, and solid momentum.
11/07/18
JPMS
11/07/18
NO CHANGE
Target $84
JPMS
Overweight
Twilio price target raised to $84 from $75 at JPMorgan
JPMorgan analyst Mark Murphy raised his price target for Twilio to $84 saying the company last night reported an "outstanding" quarter with accelerating sales growth. Revenue growth accelerated for the third consecutive quarter to 68% year-over-year growth, Murphy tells investors in a post-earnings research note. The analyst says the quarter strengthens his conviction in Twilio as a top SMID-Cap pick. He keeps an Overweight rating on the name.
GDS GDS Holdings
$28.68

2.99 (11.64%)

09/18/18
RHCO
09/18/18
INITIATION
Target $46
RHCO
Buy
GDS Holdings initiated with a Buy at SunTrust
SunTrust analyst Greg Miller initated GDS Holdings with a Buy rating and a price target of $46 as part of his broader research coverage launch into Data Centers. The analyst contends that the company is a "pure-play Chinese data center company" with "appropriate risk tolerance exposure to the fastest-growing data center market in the world". Miller notes that GDS is a market share leader in China, "quickly becoming the provider of choice to China's major cloud and internet companies". The analyst believes that the company will outgrow its peers and produce "strong" operating leverage and free cash flows.
09/10/18
09/10/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. NMI Holdings (NMIH) initiated with an Overweight at Barclays. 2. Aridis Pharmaceuticals (ARDS) initiated with an Outperform at Northland, an Overweight at Cantor Fitzgerald, and a Buy at Laidlaw. 3. Central Garden & Pet (CENT) initiated with a Buy at BofA/Merrill. 4. GDS Holdings (GDS) initiated with an Outperform at Cowen. 5. Overstock.com (OSTK) assumed with a Buy at Maxim. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/10/18
COWN
09/10/18
INITIATION
Target $45
COWN
Outperform
GDS Holdings initiated with an Outperform at Cowen
Cowen analyst Colby Synesael initiated GDS Holdings with an Outperform rating citing its strong relationships with the hyper-scale/cloud companies in China that he estimates will help drive a 40% CAGR through 2022. He expects profitability to grow meaningfully with its growing scale. Synesael has a $45 price target on GDS Holdings shares.
09/20/18
BREN
09/20/18
INITIATION
Target $16
BREN
Sell
GDS Holdings initiated with a Sell at Berenberg
Berenberg analyst Nate Crossett started GDS Holdings with a Sell rating and $16 price target.
BABA Alibaba
$149.72

2.89 (1.97%)

11/12/18
LEHM
11/12/18
NO CHANGE
Target $195
LEHM
Overweight
Alibaba Singles' Day hits high-end of estimates, says Barclays
Barclays analyst Gregory Zhao says Alibaba's total gross merchandise volume of CNY 213.5B from the Singles' Day promotion, up 27% year-over-year, hit the high-end of his estimates. The performance came in ahead of buy-side expectations, which the analyst thinks were around low- to mid-20s. The "solid" result reaffirms the strong demand from Chinese consumers and also demonstrates Alibaba ecosystem's "strong power in the organization of such a large-scale social production," Zhao tells investors in a research note. He reiterates an Overweight rating on the shares with a $195 price target.
11/12/18
OPCO
11/12/18
NO CHANGE
OPCO
Outperform
Alibaba Singles Day growth deceleration suggests weaker macro environment, says Oppenheimer
Oppenheimer analyst Jason Helfstein notes that Alibaba's (BABA) 2018 Singles Day annual growth dropped to +27% year over year versus +39% in 2017, which he believes suggests a weaker macro environment in China, on top of the law of large numbers. The analyst also highlights that Starbucks (SBUX) participated in Double 11 for the first time. Overall, Helfstein continues to see Alibaba's ecosystem evolving with new elements, namely New Retail, Local Services and Travel. Going forward, he expects GMV growth will become more reliant on the cooperation and synergies between different channels and services. The analyst has an Outperform rating on Alibaba's shares.
11/12/18
RHCO
11/12/18
NO CHANGE
Target $180
RHCO
Buy
Alibaba's Singles Day GMV growth was 'impressive', says SunTrust
SunTrust analyst Youssef Squali kept his Buy rating and $180 price target on Alibaba after its Singles Day result of $30.8B in gross merchandise value, highlighted by the "continued healthy consumption and rising middle class in and around China" as well as the "pervasiveness" of its ecosystem. The analyst notes that the 27% GMV increase was particularly impressive amid concerns of the macro headwinds and also points to a 40% increase in consumers who made purchases from international brands as well as the 23% increase in the delivery orders from Alibaba's Cainiao logistics network.
11/13/18
MKMP
11/13/18
NO CHANGE
Target $245
MKMP
Buy
Alibaba price target lowered to $245 from $270 at MKM Partners
MKM Partners analyst Rob Sanderson lowered his price target on Alibaba to $245, saying the bulk of his revision comes from the "lower profit from the core commerce segment as management postpones monetization efforts and braces for a possible economic slow-down". The analyst also points to the perceived "desperation" of the Chinese central bank in setting a 30% target for private enterprise loans as part of the banking system's total lending. Longer term, Sanderson keeps his Buy rating on Alibaba based on his confidence that the slowing economy will create separation for market leaders and that the company's recent execution appears to be better than in the last slowdown.
ADBE Adobe
$235.01

-3.84 (-1.61%)

10/16/18
ADAM
10/16/18
NO CHANGE
Target $290
ADAM
Buy
Canaccord says 'stick with a winner' after Adobe's favorable guidance
Noting that investors were nervous during yesterday's session as they worried that Adobe's weakness meant that "somebody knows something" negative was about to come, Canaccord analyst Richard Davis said that it turned out instead that Adobe announced "several compelling upgrades" and issued guidance that was as good or better than consensus. In a note entitled "When things go well, you stick with a winner," Davis said that he has raised his estimates slightly following Adobe's update and strongly believes the stock should be in a large cap growth portfolio. He keeps a Buy rating and $290 price target on Adobe shares.
10/18/18
WEDB
10/18/18
INITIATION
WEDB
Neutral
Adobe initiated with a Neutral at Wedbush
10/19/18
WEDB
10/19/18
INITIATION
Target $270
WEDB
Neutral
Adobe initiated with a Neutral at Wedbush
Wedbush analyst Daniel Ives initiated Adobe Systems with a Neutral rating and $270 price target, telling investors in a research note that while he is very positive on the company's market opportunity over the next few years and believe ARPU expansion and more price increases could be on the horizon and represent positive growth catalysts, in the near term he feels that the risk/reward on shares at current levels is relatively balanced.
10/16/18
PIPR
10/16/18
NO CHANGE
Target $310
PIPR
Overweight
Adobe remains a top pick at Piper Jaffray
Piper Jaffray analyst Alex Zukin says Adobe Systems remains one of his firm's top picks following the company's analyst day and fiscal 2019 guidance. The company is in "full growth mode" with its fiscal 2019 sales outlook exceeding consensus across the board, Zukin tells investors in a research note titled "They Guide High, Stock Stays Fly." The analyst reiterates an Overweight rating on the shares with a $310 price target.
NOW ServiceNow
$168.37

-0.225 (-0.13%)

10/22/18
NEED
10/22/18
INITIATION
Target $224
NEED
Buy
ServiceNow initiated with a Buy at Needham
Needham analyst Jack Andrews initiated ServiceNow with a Buy and $224 price target.
10/25/18
JEFF
10/25/18
NO CHANGE
Target $234
JEFF
Buy
ServiceNow Q3 'strong,' guidance looks conservative, says Jefferies
Jefferies analyst Samad Samana says ServiceNow beat Q3 expectations "across the board due to strong federal deal activity and healthy bookings." The company's Q3 subscription revenue and billings guidance was slightly below consensus, but would have been roughly in-line if not for deal timing, Samana tells investors in a research note. He views the quarter as "strong" and the guidance as "likely conservative." The analyst trimmed his price target for ServiceNow to $234 from $240 but continues to view the stock as a top pick with a Buy rating.
10/29/18
JPMS
10/29/18
NO CHANGE
JPMS
JPMorgan lists potential Software takeover targets after Red Hat deal
The volume of acquisitions in Software appears to be picking up with over 70 transactions announced year-to-date including last night's Red Hat (RHT) takeover by IBM (IBM), JPMorgan analyst Sterling Auty tells investors in a research note. The analyst puts the deals announced this year into three buckets: strategic, where the acquirer looks to gain a strong foothold in a new segment, vertical acquiring companies, and valuation, with acquirers going after assets with discounted valuations. Auty sees number of companies fitting those same characteristics across his coverage universe. In the strategic category, the analyst sees Okta (OKTA), Palo Alto Networks (PANW), ServiceNow (NOW), RingCentral (RNG), Aspen Technology (AZPN) and DocuSign (DOCU) as potential acquisition targets. In the vertical industry exposure category, Auty lists Guidewire (GWRE), Veeva (VEEV), Medidata (MDSO), Ellie Mae (ELLI) and Q2 Holdings (QTWO) as potential targets. And in the attractive valuation bucket, the analyst sees FireEye (FEYE), Carbon Black (CBLK), Secureworks (SCWX), Akamai (AKAM) and LogMeln (LOGM) as potential candidates to get acquired.
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.
MDB MongoDB
$72.75

3.37 (4.86%)

10/02/18
NOMU
10/02/18
DOWNGRADE
Target $63
NOMU
Reduce
Nomura downgrades MongoDB to Reduce on 'extreme valuation'
Nomura Instinet Christopher Eberle downgraded MongoDB (MDB) to Reduce from Neutral while raising his price target for the shares to $63 from $43. The stock closed yesterday at $78.86. The company's current market value reflects "extreme valuation," Eberle tells investors in a research note. MongoDB has a "compelling" multi-year, if not multi-decade, opportunity, but it faces "intense competition and deep-pocketed incumbency that won't die easily," the analyst contends. He points out that in the last year alone, Microsoft's (MSFT) Cosmos DB grew from zero to $100M revenue. Eberle believes the current market price of MongoDB assumes no risks.
10/16/18
OPCO
10/16/18
INITIATION
Target $80
OPCO
Outperform
MongoDB initiated with an Outperform at Oppenheimer
Oppenheimer analyst Ittai Kidron started MongoDB with an Outperform rating and $80 price target. The analyst sees the company taking advantage of secular themes emphasizing the importance of new database architectures and gaining share in a "large and growing" dynamic database market. MongoDB can sustain above current consensus growth for the foreseeable future, Kidron tells investors in a research note.
10/17/18
10/17/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Ulta Beauty (ULTA) initiated with a Buy at Argus. 2. Principal Financial (PFG) initiated with a Hold at Deutsche Bank. 3. MongoDB (MDB) initiated with an Outperform at Oppenheimer. 4. Simply Good Foods (SMPl) initiated with a Buy at Buckingham. 5. AzurRx BioPharma (AZRX) initiated with an Outperform at Oppenheimer. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/02/18
DADA
10/02/18
INITIATION
Target $80
DADA
Neutral
MongoDB initiated with a Neutral at DA Davidson
DA Davidson analyst Rishi Jaluria initiated MongoDB with a Neutral rating and a price target of $80. The analyst notes that he is positive on the company's "strong value proposition, rapid growth, and unique model". However, Jaluria also sees MongoDB valuation as "fair" at 15-times enterprise value to expected FY19 revenues and after a 166% year-to-date run-up would rather wait for a pullback to get more constructive on the name.
SE Sea Limited
$12.30

-0.15 (-1.20%)

12/01/17
MSCO
12/01/17
UPGRADE
MSCO
Overweight
Sea Limited upgraded to Overweight from Equal Weight at Morgan Stanley
06/21/18
PIPR
06/21/18
NO CHANGE
Target $18
PIPR
Overweight
Sea Limited's Free Fire becoming surprise hit, says Piper Jaffray
Piper Jaffray analyst Michael Olson notes that Sea Limited's Garena segment has historically licensed 100% of content from third parties, but last year developed Free Fire internally. The title has become a surprise hit in several markets, he contends, adding that he is seeing Free Fire among the top 10 games in more than 10 countries. While the analyst does not anticipate Free Fire driving material revenue in Q2, he believes the game could be a source of 2H18 upside. Olson reiterates an Outperform rating and $18 price target on the shares.
02/21/18
PIPR
02/21/18
NO CHANGE
PIPR
Piper Jaffray expects solid Q4 from Sea Limited
Piper Jaffray analyst Michael Olson believes the combination of gross domestic product growth and internet connectivity growth, coupled with the secular rising tide in Sea Limited's core verticals will catalyze strong growth in the near-term and material profitability in the longer-term. Olsen maintained an Overweight rating and $18 price target on shares.
02/28/18
STFL
02/28/18
NO CHANGE
STFL
Sea Limited poised for market share growth in 2018, says Stifel
Stifel analyst Scott Devitt called Sea Limited's Q4 results "solid" and believes the company is ready for continued market share gains in 2018 that "should enable significant strides in monetization over time." Devitt reiterated a Buy rating and $19 PT on Sea Limited shares.
TWTR Twitter
$32.96

0.47 (1.45%)

10/26/18
10/26/18
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. Tractor Supply (TSCO) upgraded to Outperform from Sector Perform at RBC Capital, to Outperform from Neutral at Wedbush, and to Neutral from Underperform at BofA/Merrill. 2. Twitter (TWTR) upgraded to Outperform from Perform at Oppenheimer with analyst Jason Helfstein saying he believes within the scope of Social Media, Twitter shares offer reasonable value with reduced execution risk. 3. First Solar (FSLR) upgraded to Market Perform from Underperform at JMP Securities with analyst Joseph Osha citing valuation following the stock's 35% decline since the end of May. 4. GrubHub (GRUB) upgraded to Conviction Buy from Buy at Goldman Sachs, to Buy from Neutral at DA Davidson, and to Buy from Hold at Stifel. 5. Six Flags (SIX) upgraded to Neutral from Underperform at Macquarie with analyst Matthew Brooks saying he believes negative catalysts have passed and valuation is more balanced. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/26/18
OPCO
10/26/18
UPGRADE
Target $37
OPCO
Outperform
Twitter upgraded to Outperform from Perform at Oppenheimer
Oppenheimer analyst Jason Helfstein upgraded Twitter to Outperform from Perform, telling investors in a research note that he believes within the scope of Social Media, Twitter shares offer reasonable value with reduced execution risk. Helfstein is optimistic that ad pricing has stabilized and expenses should grow slower than revenue in 2019. He has a $37 price target on the shares.
10/26/18
OPCO
10/26/18
UPGRADE
OPCO
Outperform
Twitter upgraded to Outperform from Perform at Oppenheimer
10/26/18
UBSW
10/26/18
NO CHANGE
Target $44
UBSW
Buy
Twitter successfully climbing 'wall of worry,' says UBS
UBS analyst Eric Sheridan said Twitter's Q3 report showed very strong ad revenue trends with material quarter-over-quarter ad business growth, stable trends off a strong base in Japan, and continued progress in video. The analyst said the company climbed almost every "wall of worry" of investors concerns and he believes they can outperform over the next 12 months. Sheridan reiterated his Buy rating and $44 price target on Twitter shares.
FB Facebook
$143.38

1.19 (0.84%)

11/13/18
OPCO
11/13/18
NO CHANGE
Target $16
OPCO
Outperform
EverQuote price target lowered to $16 from $23 at Oppenheimer
Oppenheimer analyst Jason Helfstein lowered his price target for EverQuote (EVER) to $16 from $23 after management lowered 2018 VMM guidance 5% on less effective traffic conversion from creative advertisement fatigue, adjusting to new Facebook (FB) ad policies, and pushing higher volumes to providers in lower seasonal period. The analyst reiterates an Outperform rating on EverQuote on favorable risk/reward for long-term opportunity to penetrate $9B insurance advertising market.
10/31/18
BMOC
10/31/18
NO CHANGE
Target $175
BMOC
Market Perform
Facebook price target lowered to $175 from $190 at BMO Capital
BMO Capital analyst Daniel Salmon lowered his price target on Facebook to $175 and kept his Market Perform rating after its Q3 results and outlook, saying the company's 2019 expense growth guidance also lowers his FY19 EPS view to $7.53 from $8.25. The analyst notes however that the acceleration of Facebook's Stories feature could support a "more positive view" as he awaits more data points and channel check findings.
11/08/18
DADA
11/08/18
NO CHANGE
Target $42
DADA
Buy
Applied Optoelectronics price target raised to $42 from $36 at DA Davidson
DA Davidson analyst Mark Kelleher raised his price target on Applied Optoelectronics (AAOI) to $42 and kept his Buy rating after its Q3 results, saying that despite the earnings shortfall, the company remains among the "leading providers of optical networking technology to the datacenter and cable TV markets". The analyst notes that the company had already negatively preannounced Q3 on sales impact from the issue found with a small percentage of its 25G lasers, but that issue had been resolved and shipments to the impacted customer - Facebook (FB) - have resumed.
11/13/18
ADAM
11/13/18
NO CHANGE
Target $18
ADAM
Buy
EverQuote price target lowered to $18 from $23 at Canaccord
Canaccord analyst Michael Graham lowered his price target on EverQuote (EVER) to $18 from $23 following in line Q3 results. The company said quote requests declined from the revamp of its ad units in the face of policy changes at Facebook (FB) along with the crowding out from political ads. Management said they see the same circumstances affecting business so far in Q4. Graham maintained his Buy rating on EverQuote shares.
DESP Despegar.com
$16.07

-0.14 (-0.86%)

03/09/18
KEYB
03/09/18
NO CHANGE
Target $40
KEYB
Overweight
KeyBanc calls Despegar.com 'undiscovered,' sees upside to $40 per share
Despegar has just started with margin-expanding package growth, which is not well-appreciated by investors, Keybanc analyst Brad Erickson tells investors in a post-earnings research note titled "Known by Some as Despacito, Despegar Remains Undiscovered." He believes the company continues to solidify its position as the leading online travel agency in Latin America. Execution throughout 2018 should produce "persistent upside to estimates and the stock," Erickson argues. He sees upside to $40 per share and is a buyer of the stock with an Overweight rating.
06/26/18
KEYB
06/26/18
NO CHANGE
Target $30
KEYB
Overweight
Despegar.com price target lowered to $30 from $40 at KeyBanc
KeyBanc analyst Brad Erickson lowered his price target for Despegar.com to $30 from $40 as his meeting with CFO Mike Doyle confirmed a confluence of headwinds facing the company in the near-term. Nonetheless, the analyst continues to believe Despegar.com is a name to own for a best-in-class category-leader with secular growth in an underpenetrated market. He reiterates an Overweight rating on the shares.
08/17/18
IBBA
08/17/18
DOWNGRADE
IBBA
Underperform
Despegar.com downgraded to Underperform from Market Perform at Itau BBA
08/17/18
MSCO
08/17/18
NO CHANGE
Target $22
MSCO
Equal Weight
Despegar.com price target lowered to $22 from $24 at Morgan Stanley
Morgan Stanley analyst Brian Nowak lowered his price target on Despegar.com shares to $22 from $24 as he contends the company's Q2 results highlight the challenges of sustaining profitable growth in the volatile LATAM online travel space. Citing his view that higher investments are likely required to drive faster top-line growth, he reduced his FY18 and FY19 EBITDA estimates by 3% and 7%, respectively, and keeps an Equal Weight rating on the shares.
TDG TransDigm
$340.65

-4.89 (-1.42%)

10/11/18
BARD
10/11/18
DOWNGRADE
Target $365
BARD
Neutral
TransDigm downgraded to Neutral after 'fixer-up' Esterline deal at Baird
As reported previously, Baird analyst Peter Arment downgraded TransDigm (TDG) to Neutral from Outperform. The analyst said the Esterline (ESL) deal is a shift in the company's strategy in buying a "fixer-up asset" with significantly below average returns that will take time to improve. He believes it will be an overhang on the stock near-term. Arment maintained his $365 price target on TransDigm shares.
10/11/18
10/11/18
UPGRADE
Target $122.5

Neutral
Esterline upgraded to Neutral on TransDigm pending acquisition at Credit Suisse
As previously reported, Credit Suisse analyst Robert Spingarn upgraded Esterline to Neutral from Underperform given pending acquisition by TransDigm (TDG). The analyst also raised his price target on Esterline's shares to $122.50 from $66.
10/11/18
RHCO
10/11/18
NO CHANGE
Target $436
RHCO
Buy
TransDigm price target raised to $436 from $400 at SunTrust
SunTrust analyst Michael Ciarmoli raised his price target on TransDigm (TDG) to $436 and kept his Buy rating to reflect the impact of its Esterline (ESL) acquisition. The analyst notes that while the purchase multiple of 12.5-times his expected FY19 EBITDA "looks rich for a challenged asset", there is "ample runway for cost cutting opportunities". While Ciarmoli expectes some $500M-$600M in revenue to be divested to help finance the deal, he also sees it generating the "next leg up of stock appreciation".
10/11/18
10/11/18
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. Huntington Ingalls (HII) downgraded to Sell from Neutral at Goldman Sachs with analyst Noah Poponak saying the company's pace of growth may not support current valuation levels. 2. Ferrari (RACE) downgraded to Hold from Buy at Jefferies with analyst Philippe Jean Houchois saying he re-based his expectations lower to reflect higher upfront investments and a lower quality of earnings as management's new strategy of less volume and more exclusivity takes hold. 3. Valero (VLO) downgraded to Hold from Buy at Tudor Pickering. 4. TransDigm (TDG) downgraded to Neutral from Outperform at Baird with analyst Peter Arment saying the Esterline (ESL) deal is a shift in the company's strategy in buying a "fixer-up asset" with significantly below average returns that will take time to improve. He believes it will be an overhang on the stock near-term. Arment maintained his $365 price target on TransDigm shares. 5. Tata Motors (TTM) downgraded to Hold from Buy at HSBC with analyst Amyn Pirani saying while the company's India business has surprised positively, Jaguar Land Rover's volumes have continued to decline. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
MELI MercadoLibre
$337.42

9.36 (2.85%)

11/13/18
BTIG
11/13/18
INITIATION
Target $395
BTIG
Buy
MercadoLibre initiated with a Buy at BTIG
BTIG analyst Marvin Fong started MercadoLibre with a Buy rating and $395 price target. The analyst is optimistic on the MercadoLibre's payments platform and sees "tangible parallels" to Paypal (PYPL) and Alipay. Fong acknowledges competitive concerns on the e-commerce side, but thinks investors should "focus on the end game: an e-commerce/fintech ecosystem spanning most facets of LatAm digital life."
11/02/18
PIPR
11/02/18
NO CHANGE
Target $370
PIPR
Overweight
MercadoLibre price target raised to $370 from $340 at Piper Jaffray
Piper Jaffray analyst Michael Olson raised his price target for MercadoLibre to $370 and maintains an Overweight rating on the shares following the company's Q3 results. The analyst believes Payments is "looking better."
10/23/18
IBBA
10/23/18
INITIATION
IBBA
Outperform
MercadoLibre initiated with an Outperform at Itau BBA
10/30/18
PIPR
10/30/18
NO CHANGE
Target $340
PIPR
Overweight
MercadoLibre price target lowered to $340 from $376 at Piper Jaffray
Piper Jaffray analyst Michael Olson lowered his estimates for MercadoLibre ahead of the company's Q3 results on November 1 to reflect currency moves as well as a more conservative stance on timing of its return to profitability. The analyst now expects profitability to happen in Q1 of 2019 versus his prior view of Q3. MercadoLibre is in an investment phase to drive growth and the company has also been dealing with "several external impediments," Olson tells investors in a pre-earnings research note. The combination of MercadoLibre's free shipping initiatives, recent Brazil national post price increase, and Brazil truck driver's strike, Q2 was the "epicenter" of factors that could negatively impact profitability, says the analyst. Olson lowered his price target for the shares to $340 but keeps an Overweight rating on the name.
AMZN Amazon.com
$1,610.00

-21.68 (-1.33%)

11/13/18
LOOP
11/13/18
NO CHANGE
LOOP
Amazon.com HQ2 locations 'make perfect sense' to Loop Capital
Loop Capital analyst Anthony Chukumba, who has a Buy rating and $2,200 price target on Amazon shares, was not surprised by Amazon's decision to split HQ2 between New York City and Northern Virginia, saying it "made perfect sense." The analyst noted that Amazon is eligible to receive nearly $2.1B in combined tax credits and cash grants, which likely played an important role in their decision. He also noted that Amazon having a local headquarters in Norther Virginia "further cements Amazon as the frontrunner for the Department of Defense's $10B Joint Enterprise Defense Infrastructure cloud computing contract."
11/12/18
LBOW
11/12/18
NO CHANGE
LBOW
Neutral
Earnings commentary shows 'ample evidence' of hyperscale caution, says Longbow
Longbow analyst Joe Wittine said that Microsoft (MSFT) signaled along with its earnings report that growth in investments would moderate, Amazon (AMZN) highlighted a focus on driving data center efficiencies, Alphabet (GOOGL) is understood to be eh "the largest driver" of Seagate's (STX) lowered outlook and Apple (AAPL) expects FY19 capex of $14B, down from this year's $16.7B. Wittine sees all of this as "ample evidence of increased caution in the hyperscale investment cycle," which leads his to believe his Neutral ratings on both Seagate and Western Digital (WDC) remain appropriate.
11/13/18
BARD
11/13/18
NO CHANGE
BARD
Amazon selection of East Coast corridor for HQs makes sense, says Baird
Baird analyst Colin Sebastian noted that he'd predicted last October that Washington DC was "a slight favorite in the HQ2 sweepstakes," and he believes Amazon's (AMZN) selection of a second headquarters divided between Long Island City, NY and Arlington, Virginia "makes logical sense." He sees the primary motivation for the HQ split was talent availability, Sebastian added. The analyst maintains an Outperform rating and $2,100 price target on Amazon shares. Adding that "it did not receive the headlines of the HQ2 bidding process," Google (GOOGL) is said by the Wall Street Journal to be acquiring space for an additional 12-14K employees in New York, Sebastian also noted.
11/14/18
EVER
11/14/18
NO CHANGE
Target $1990
EVER
Outperform
Amazon's AWS operating income estimates likely conservative, says Evercore ISI
Evercore ISI analyst Anthony DiClemente kept his Outperform rating and $1,990 price target on Amazon.com, saying his deeper analysis of the company's AWS business earnings power over the longer term suggests that the consensus is "likely too conservative". The analyst states that his "dynamic model" indicates a pathway of 35% or greater operating margins by 2022 under "bullish, but still undemanding assumptions." DiClemente adds that the Street is giving Amazon "little credit for ongoing efficiency gains", only calling for about 100bps in operating margin expansion between 2018 and 2021.
SPOT Spotify
$133.07

1.38 (1.05%)

11/01/18
LOOP
11/01/18
NO CHANGE
Target $135
LOOP
Sell
Spotify price target lowred to $135 from $150 at Loop Capital
Loop Capital analyst Alan Gould lowered his price target on Spotify to $135 and kept his Sell rating after its in-line Q3 results and a reduction in the high-end of Q4 guidance. The analyst adds that while the stock has retreated in line with other igher multiple internet and streaming companies, he sees more downside pressure on belief that "library product is more critical in music than video and in a competitive music streaming market the music oligopoly will capture most of the incremental profits".
11/01/18
11/01/18
DOWNGRADE
Target $155

In Line
Spotify downgraded to In Line after Q4 guidance at Evercore ISI
As previously reported, Evercore ISI analyst Anthony Declemente downgraded Spotify to In Line from Outperform, stating that the company's Q4 subscriber outlook "modestly disappointed many of us who were hoping for a clean beat and raise." Potentially adding to concerns about subscriber growth is the company's cautious comments around next year's operating margins, added the analyst, who lowered his 2019 subscriber and operating income estimates following Spotify's report and cut his price target on the shares to $155 from $210.
11/02/18
NOMU
11/02/18
NO CHANGE
Target $190
NOMU
Buy
Spotify price target lowered to $190 from $210 at Nomura Instinet
Nomura Instinet analyst Mark Kelley lowered his price target for Spotify to $190 saying the company's results yesterday were ahead of the Street for both the advertising and subscription businesses. If the analyst had to point to one thing that is weighing on shares, it's the margin commentary for next year. However, he believes management is properly keeping expectations in check given the second half of 2018 margin benefit from lighter hiring. He keeps a Buy rating on the shares.
11/02/18
ADAM
11/02/18
NO CHANGE
Target $200
ADAM
Buy
Spotify price target lowered to $200 from $220 at Canaccord
Canaccord analyst Maria Ripps lowered her price target on Spotify to $200 from $220 following Q3 results. The analyst noted Q4 subscriber guidance was lowered slightly, but it is now in line with her expectations. She said subscriber growth continues on a strong path and believes that self-serve advertising growth should create margin upside over time. Ripps maintained her Buy rating on Spotify shares.
MSFT Microsoft
$105.44

-1.03 (-0.97%)

10/29/18
OPCO
10/29/18
NO CHANGE
OPCO
IBM/Red Hat may look to partner much more with Google, says Oppenheimer
Oppenheimer analyst Timothy Horan notes that IBM (IBM) and Red Hat (RHT) have lagged leaders such as Microsoft (MSFT), Amazon (AMZN), Google (GOOG; GOOGL) in the cloud. By merging, they are trying to improve their cloud position and Horan sees them looking to use the disruptive Container/Kubernetes to create a new hybrid cloud platform. Given how far behind they are in infrastructure, the analyst believes they may look to partner much more with Google, which is a threat to Microsoft more so than AWS. While Horan thinks the deal does open up an opportunity for a combined IBM/Red Hat to enter the market with a new service, they still have a long way to go before they can compete with Microsoft and Amazon in cloud.
11/07/18
MAXM
11/07/18
NO CHANGE
Target $127
MAXM
Hold
Tableau price target raised to $127 from $107 at Maxim
Maxim analyst Nehal Chokshi raised his price target on Tableau (DATA) to $127 after its "solid" Q3 results that saw implied billings accelerate to 31% annualized growth in spite of the headwinds coming "from ongoing rapid transition to subscription model". The analyst also keeps his Hold rating on Tableau, stating that the December quarter outlook implies a billings deceleration to 17% while also noting that the company is facing a "lurking" competitive threat from Microsoft (MSFT).
11/13/18
SUSQ
11/13/18
UPGRADE
Target $95
SUSQ
Positive
Xilinx upgraded to Positive with $95 price target at Susquehanna
As reported previously, Susquehanna analyst Christopher Rolland upgraded Xilinx (XLNX) to Positive from Neutral. The analyst likes the company's A.I. inference opportunity and its strong showing with Alveo. He said the early read on Alveo pricing puts it in the ballpark with Nvidia's (NVDA) T4. He is also encouraged that Microsoft (MSFT) may begin to dual source DC FPGAs, which was an opportunity that he thought had previously been locked up by Altera. Rolland raised his price target to $95 from $82 on Xilinx shares.
JD JD.com
$22.70

0.32 (1.43%)

10/29/18
10/29/18
DOWNGRADE

Sector Weight
KeyBanc downgrades JD.com to Sector Weight on smartphone, appliance exposure
As previously reported, KeyBanc analyst Hans Chung downgraded JD.com to Sector Weight from Overweight, citing his view that ongoing weakness in the smartphone and home appliance markets could make JD more vulnerable than peers given its large exposure to those two end markets. Chung, who sees potential downside risk to consensus revenue growth in 2019, is expecting in-line to lower Q3 results and Q4 guidance from JD, he added.
10/12/18
UBSW
10/12/18
NO CHANGE
Target $28
UBSW
Buy
JD.com price target lowered to $28 from $38 at UBS
UBS analyst Jerry Liu lowered his price target on JD.com to $28 from $38 as he believes the weakness in consumer demand in July was an early warning of issues that will likely persist. Those problems consist of labor market and wage growth softness, tightening of consumer lending, lower investment income, and tougher competition. Liu maintains his Buy rating on JD.com as the market may have already priced in his estimate revisions.
10/22/18
BNCH
10/22/18
NO CHANGE
Target $36
BNCH
Buy
JD.com price target lowered to $36 from $43 at Benchmark
Benchmark analyst Fawne Jiang expects JD.com's near-term growth outlook to face some challenges from the macro headwinds that are industry-wide and thinks JD's margins could face increasing pressure from aggressive investments in R&D, logistics and new business initiatives. She lowered her price target on JD.com shares to $36 from $43 ahead of the company's Q3 earnings report, due in early to mid November, but maintains a Buy rating on the shares, given that she sees it continuing to benefit from secular consumption upgrade trends.
10/29/18
KEYB
10/29/18
DOWNGRADE
KEYB
Sector Weight
JD.com downgraded to Sector Weight from Overweight at KeyBanc
BKNG Booking Holdings
$1,900.00

-9.82 (-0.51%)

11/06/18
DADA
11/06/18
NO CHANGE
Target $2000
DADA
Neutral
Booking Holdings price target nudged higher to $2,000 at DA Davidson
DA Davidson analyst Tome White raised his price target on Booking Holdings to $2,000 from $1,980 after its "strong" Q3 top-line beat and a 1% EBITDA upside, saying the 12% growth in gross bookings was also above his 5% estimate. The analyst notes however that the performance was also supported by the "later summer peak travel and higher growth from paid marketing channels," adding that the management is also prepared to "tolerate margin compression" to achieve above-industry growth rate in 2019. White also keeps his Neutral rating on Booking Holdings, noting its 20-times forward earnings valuation multiple.
11/06/18
MSCO
11/06/18
NO CHANGE
Target $2100
MSCO
Overweight
Booking Q3 results, Q4 outlook illustrate 'multiple levers,' says Morgan Stanley
Morgan Stanley analyst Brian Nowak said Booking Holdings' Q3 room nights growth being 200bp better than expected and its Q4 guidance, with the top end of room nights growth being 100bp better than expected, speak to the multiple levers the company has to pull. He is particularly bullish about the percentage of room nights coming from direct channels increasing year-over-year and the fact that direct traffic remains the largest source of new customer growth. Nowak keeps an Overweight rating and $2,100 price target on Booking shares.
11/06/18
SUSQ
11/06/18
NO CHANGE
Target $2300
SUSQ
Positive
Booking Holdings price target raised to $2,300 from $2,200 at Susquehanna
Susquehanna analyst Shyam Patil raised his price target on Booking Holdings to $2,300 from $2,200 following its Q3 results. The analyst likes its secular opportunity to penetrate hotels and alternative accommodations room nights. He believes the room night growth acceleration will ease fears around perpetual growth deceleration. Patil reiterated his Positive rating on Booking Holdings shares.
11/06/18
FBCO
11/06/18
NO CHANGE
Target $2240
FBCO
Outperform
Booking Holdings price target raised to $2,240 from $2,100 at Credit Suisse
Credit Suisse analyst Stephen Ju raised his price target for Booking Holdings to $2,240 from $2,100 following quarterly results. The analyst reiterates an Outperform rating on the shares.

TODAY'S FREE FLY STORIES

CBS

CBS

$43.83

0.5 (1.15%)

, VIA

Viacom

$27.27

-0.4 (-1.45%)

08:03
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Viacom-CBS merger got panned by investors, Barron's says »

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$43.83

0.5 (1.15%)

VIA

Viacom

$27.27

-0.4 (-1.45%)

VIAB

Viacom

$26.02

0.09 (0.35%)

AAPL

Apple

$206.44

4.71 (2.33%)

DIS

Disney

$135.19

1.79 (1.34%)

T

AT&T

$34.98

0.64 (1.86%)

CMCSA

Comcast

$43.17

0.82 (1.94%)

CMCSK

Comcast

$0.00

(0.00%)

NFLX

Netflix

$302.74

6.81 (2.30%)

AMZN

Amazon.com

$1,791.82

16.72 (0.94%)

03/08/13
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MYGN

Myriad Genetics

$25.36

2.14 (9.22%)

07:57
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Myriad Genetics stock might have an FDA issue, Barron's says »

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CSCO

Cisco

$46.96

0.73 (1.58%)

, NTAP

NetApp

$46.75

0.33 (0.71%)

07:50
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08/17
07:50
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Trade war hitting tech stocks, Barron's says »

Cisco (CSCO) plunged 9% a…

CSCO

Cisco

$46.96

0.73 (1.58%)

NTAP

NetApp

$46.75

0.33 (0.71%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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RDS.A

Royal Dutch Shell

$55.55

0.47 (0.85%)

, RDS.B

Royal Dutch Shell

$55.56

0.46 (0.83%)

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RDS.A

Royal Dutch Shell

$55.55

0.47 (0.85%)

RDS.B

Royal Dutch Shell

$55.56

0.46 (0.83%)

BP

BP

$36.27

0.22 (0.61%)

XOM

Exxon Mobil

$68.30

1.06 (1.58%)

CVX

Chevron

$115.79

0.08 (0.07%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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TGT

Target

$84.20

1.67 (2.02%)

, WMT

Walmart

$112.99

0.32 (0.28%)

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TGT

Target

$84.20

1.67 (2.02%)

WMT

Walmart

$112.99

0.32 (0.28%)

GO

Grocery Outlet

$46.55

2.81 (6.42%)

03/08/13
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03/06/13
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    Sep

  • 13

    Nov

  • 14

    Nov

AEO

American Eagle

$15.40

0.63 (4.27%)

07:33
08/17/19
08/17
07:33
08/17/19
07:33
Periodicals
American Eagle to soar despite trade war, Barron's says »

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  • 04

    Sep

  • 25

    Sep

ANGI

Angi Homeservices

$8.18

-0.18 (-2.15%)

, MTCH

Match Group

$84.53

2.08 (2.52%)

07:27
08/17/19
08/17
07:27
08/17/19
07:27
Periodicals
Dating business might be IAC's best asset, greatest challenge, Barron's says »

IAC (IAC) has rallied 34%…

ANGI

Angi Homeservices

$8.18

-0.18 (-2.15%)

MTCH

Match Group

$84.53

2.08 (2.52%)

IAC

IAC

$249.17

4.21 (1.72%)

03/08/13
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  • 05

    Sep

  • 10

    Sep

  • 10

    Oct

AAPL

Apple

$206.44

4.71 (2.33%)

, HAS

Hasbro

$114.29

1.13 (1.00%)

07:13
08/17/19
08/17
07:13
08/17/19
07:13
On The Fly
Week in review How Trump's policies moved stocks »

Catch up on the top…

AAPL

Apple

$206.44

4.71 (2.33%)

HAS

Hasbro

$114.29

1.13 (1.00%)

MAT

Mattel

$10.74

(0.00%)

AGR

Avangrid

$49.29

0.37 (0.76%)

JPM

JPMorgan

$107.73

2.52 (2.40%)

BAC

Bank of America

$27.04

0.79 (3.01%)

C

Citi

$63.46

2.13 (3.47%)

03/08/13
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03/06/13
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03/06/13
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  • 06

    Sep

  • 09

    Sep

  • 02

    Oct

  • 15

    Oct

  • 15

    Oct

  • 16

    Oct

  • 27

    Oct

NCLH

Norwegian Cruise Line

$50.48

1.38 (2.81%)

18:04
08/16/19
08/16
18:04
08/16/19
18:04
Hot Stocks
Norwegian Cruise Line CEO sells 25K shares of common stock »

In a regulatory filing,…

03/08/13
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RM

Regional Management

$27.12

0.14 (0.52%)

18:01
08/16/19
08/16
18:01
08/16/19
18:01
Hot Stocks
Regional Management CFO buys 5K shares of common stock »

In a regulatory filing,…

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  • 13

    Nov

RTN

Raytheon

$178.10

-0.42 (-0.24%)

17:59
08/16/19
08/16
17:59
08/16/19
17:59
Hot Stocks
Raytheon awarded $199.59M Navy contract for MK 15 CIWS »

Raytheon has been awarded…

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WEN

Wendy's

$19.94

0.16 (0.81%)

17:57
08/16/19
08/16
17:57
08/16/19
17:57
Hot Stocks
Breaking Hot Stocks news story on Wendy's »

Trian Fund lowers…

03/08/13
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  • 13

    Nov

BRY

Berry Petroleum

$8.59

0.39 (4.76%)

17:54
08/16/19
08/16
17:54
08/16/19
17:54
Syndicate
Breaking Syndicate news story on Berry Petroleum »

Berry Petroleum files to…

03/08/13
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CSWI

CSW Industrials

$70.20

1.92 (2.81%)

17:52
08/16/19
08/16
17:52
08/16/19
17:52
Hot Stocks
CSW Industrials CEO sells 25K shares of common stock »

In a regulatory filing,…

03/08/13
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OAS

Oasis Petroleum

$3.03

0.135 (4.66%)

17:49
08/16/19
08/16
17:49
08/16/19
17:49
Hot Stocks
Oasis Petroleum CEO buys 30K shares of common stock »

In a regulatory filing,…

03/08/13
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EE

El Paso Electric

$66.41

0.005 (0.01%)

17:45
08/16/19
08/16
17:45
08/16/19
17:45
Hot Stocks
El Paso Electric director Wertheimer sells 25K shares of common stock »

In a regulatory filing,…

03/08/13
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HON

Honeywell

$165.07

2.81 (1.73%)

17:42
08/16/19
08/16
17:42
08/16/19
17:42
Hot Stocks
Honeywell CEO sells 7.1K shares of common stock »

In a regulatory filing,…

03/08/13
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MBRX

Moleculin Biotech

$1.08

0.01 (0.93%)

17:37
08/16/19
08/16
17:37
08/16/19
17:37
Earnings
Moleculin Biotech reports Q2 EPS (3c), two estimates (10c) »

CFO Jonathan Foster…

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VIVE

Viveve

$0.13

0.0046 (3.59%)

17:35
08/16/19
08/16
17:35
08/16/19
17:35
Syndicate
Breaking Syndicate news story on Viveve »

Viveve files to sell…

03/08/13
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03/06/13
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PRGO

Perrigo

$46.21

0.535 (1.17%)

17:30
08/16/19
08/16
17:30
08/16/19
17:30
Hot Stocks
Breaking Hot Stocks news story on Perrigo »

Starboard lowers Perrigo…

03/08/13
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03/06/13
Citigroup
03/06/13
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  • 01

    Oct

UAL

United Continental

$82.96

1.36 (1.67%)

17:28
08/16/19
08/16
17:28
08/16/19
17:28
Hot Stocks
United Continental director Shapiro buys 10K shares of common stock »

In a regulatory filing,…

03/08/13
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  • 04

    Sep

  • 05

    Sep

  • 23

    Sep

MBIO

Mustang Bio

$3.88

0.19 (5.15%)

17:26
08/16/19
08/16
17:26
08/16/19
17:26
Syndicate
Breaking Syndicate news story on Mustang Bio »

Mustang Bio files to…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 04

    Sep

BCLI

BrainStorm

$3.63

0.055 (1.54%)

17:24
08/16/19
08/16
17:24
08/16/19
17:24
Syndicate
Breaking Syndicate news story on BrainStorm »

BrainStorm files to sell…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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WLK

Westlake Chemical

$61.27

0.66 (1.09%)

17:15
08/16/19
08/16
17:15
08/16/19
17:15
Hot Stocks
Westlake Chemical raises quarterly dividend by 5% to 26.25c per share »

The dividend will be…

03/08/13
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GIG

GigCapital

$10.30

(0.00%)

17:10
08/16/19
08/16
17:10
08/16/19
17:10
Hot Stocks
GigCapital receives noncompliance notice from NYSE »

GigCapital announced that…

03/08/13
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03/06/13
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