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AMZN

Amazon.com

$1,644.53

-15.76 (-0.95%)

, TTWO

Take-Two

$108.72

1.26 (1.17%)

13:55
01/10/19
01/10
13:55
01/10/19
13:55

Amazon working on video game streaming service, The Information says

Amazon (AMZN) is joining Microsoft (MSFT) and Google (GOOGL) in developing a video game streaming service "in what could be an important new battleground in online entertainment," according to The Information, citing two people briefed on the plans. Publicly traded companies in the video game space include game publishers Activision Blizzard (ATVI), Electronic Arts (EA) and Take-Two (TTWO) and game retailer GameStop (GME). Reference Link

AMZN

Amazon.com

$1,644.53

-15.76 (-0.95%)

TTWO

Take-Two

$108.72

1.26 (1.17%)

ATVI

Activision Blizzard

$50.73

-0.1 (-0.20%)

EA

Electronic Arts

$90.36

1.47 (1.65%)

GME

GameStop

$15.89

-0.09 (-0.56%)

MSFT

Microsoft

$102.58

-1.73 (-1.66%)

GOOG

Alphabet

$1,061.00

-14.81 (-1.38%)

GOOGL

Alphabet Class A

$1,068.76

-13.3 (-1.23%)

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AMZN Amazon.com
$1,644.53

-15.76 (-0.95%)

01/10/19
COWN
01/10/19
NO CHANGE
Target $2250
COWN
Outperform
Amazon to benefit from strong ad spending, says Cowen
Cowen analyst John Blackledge said his survey shows ad buyers appear more bullish on 2019, which he contends will be positive for Amazon.com. The analyst said digital will continue to gain share at the expense of traditional mediums and Amazon's ROI is perceived as strong. Blackledge reiterated his Outperform rating and $2,250 price target on Amazon shares.
01/10/19
JPMS
01/10/19
NO CHANGE
Target $44
JPMS
Overweight
Twitter named a 2019 best Internet idea at JPMorgan
JPMorgan analyst Doug Anmuth names Twitter (TWTR) a best Internet idea for 2019 along with Facebook (FB) and Amazon.com (AMZN). Twitter shares increased 20% in 2018 on "continued solid" daily active user growth, "significant" revenue re-acceleration following 2017 declines, and the company's first full year of GAAP profitability, Anmuth tells investors in a research note. Going into 2019, he believes Twitter is making "meaningful progress on its health work identifying malicious and spammy content." Quality improvements should drive benefits to usage and advertising revenue long-term, adds the analyst. Further, Anmuth's channel checks suggest Twitter's advertising products and improving return on investment "are increasingly resonating with marketers." The analyst lowered his price target for the shares to $44 from $45 and keeps an Overweight rating on Twitter. The stock closed yesterday up 44c to $32.25 and is up 3% in premarket trading to $33.26 after BofA/Merrill analyst Justin Post double upgraded his rating on Twitter to Buy from Underperform.
01/10/19
OPCO
01/10/19
NO CHANGE
Target $90
OPCO
Outperform
Amazon database negative for MondoDB, validates opportunity, says Oppenheimer
Oppenheimer analyst Ittai Kidron notes that AWS (AMZN) announced DocumentDB, a MongoDB (DMB)-compatible database designed to give users performance, scalability, and availability when operating mission-critical MongoDB workloads at scale. While the development is negative and adds to competitive pressures, the analyst sees positives as it validates MongoDB's growing popularity and market opportunity and it is likely to offer MongoDB a permanent feature advantage. Further, Kidron argues that MongoDB still maintains its cloud-independent value proposition. He reiterates an Outperform rating and $90 price target on MongoDB's shares.
01/10/19
STFL
01/10/19
NO CHANGE
Target $95
STFL
Buy
Stifel doesn't see meaningful near-term impact on MongoDB from new AWS offering
After Amazon Web Services (AMZN) announced Amazon DocumentDB, a MongoDB (MDB) compatible database that is a managed offering, Stifel analyst Brad Reback said he was not surprised by the news given MongoDB's "tremendous developer popularity," but he does expect MongoDB shares to be under pressure. With that said, Reback does not expect this product to have a meaningful impact on MongoDB's near-term business, due to a lack of being able to access core MongoDB functionality within the database, his belief that customers value Mongo's deployment optionality and lack of lock-in, and the fact that Atlas already offers many of same features AWS is touting. Reback keeps a Buy rating and $95 price target on MongoDB shares, which are down $10.63, or 12%, to $75.99 in pre-market trading.
TTWO Take-Two
$108.72

1.26 (1.17%)

12/18/18
BUCK
12/18/18
INITIATION
Target $130
BUCK
Buy
Take-Two assumed with a Buy at Buckingham
Buckingham analyst Matthew Harrigan assumed coverage on Take-Two with a Buy and $130 price target. The analyst said shares are off 26% from its 12 month highs despite what looks like high IP durability.
12/14/18
PIPR
12/14/18
NO CHANGE
PIPR
NPD video game sales fell 10% in November, says Piper Jaffray
Overall November NPD video game sales fell 10% year-over-year due to a difficult compare with last year's November launch of Call of Duty: WWII, Piper Jaffray analyst Michael Olson tells investors in a research note. The analyst points out that Red Dead Redemption 2 from Take-Two (TTWO) and Activision Blizzard's (ATVI) Black Ops 4 were the top titles for November. Olson keeps Overweight ratings on those two names along with Electronic Arts (EA).
12/07/18
OPCO
12/07/18
NO CHANGE
OPCO
Outperform
Video game publishers 'struggling' to keep up with innovation, says Oppenheimer
Oppenheimer analyst Andrew Uerkwitz tells investors in a research note that he believes the video game industry is "still healthy," but that the larger publishers -- primarily Outperform-rated Activision Blizzard (ATVI) and Electronic Arts (EA) -- are struggling to keep up with innovation and are not enjoying the same growth rates. He notes that Activision is expected to see just 4% growth in 2H18, while EA is down 5% y/y, while Take Two (TTWO) is estimated to be up about 69% for the same period due to Red Dead Redemption 2. He says EA has "several shots" on goal with three AAA titles coming in 2019, but says Activision has "a little work to do" on the Blizzard side.
12/04/18
MSCO
12/04/18
NO CHANGE
Target $150
MSCO
Overweight
Take-Two stands to benefit from Steam price cut, says Morgan Stanley
Morgan Stanley analyst Brian Nowak noted that Valve announced last week it was changing the take rate on its Steam PC-game distribution platform, reducing Steam's take rate to 20% from 30% on all sales over $50M per game. For any game that has achieved scale on Steam, this 10% increase to gross revenue will "effectively fall directly to the game's operating profit," said Nowak. He expects the impact to be minimal for Activision Blizzard (ATVI) and Electronic Arts (EA), who distribute most or all of their games through wholly-owned platforms, but said that for Take-Two (TTWO) the impact could be more significant. The lower platform fees could drive as much as 8% upside to his FY20 EPS estimate for Take-Two, noted Nowak, who maintains an Overweight rating and $150 price target on its shares.
ATVI Activision Blizzard
$50.73

-0.1 (-0.20%)

01/04/19
MSCO
01/04/19
NO CHANGE
Target $75
MSCO
Equal Weight
Morgan Stanley 'optimistic' about Square choice of Ahuja as new CFO
After Square (SQ) announced that Amrita Ahuja, currently the CFO of Activision Blizzard's (ATVI) Blizzard Entertainment unit, will be its new CFO starting this month, Morgan Stanley analyst James Faucette said he is "optimistic" about the choice and view the news as positive. He noted that Square's prior CFO, Sarah Friar, was instrumental in managing expectations while also articulating the company's long-term opportunities, but he thinks Ahuja's diverse experience should help her as she becomes a key strategy decisionmaker and communicator to the Street. Faucette maintains his Equal Weight rating on Square shares with a $75 price target.
01/03/19
BNCH
01/03/19
NO CHANGE
BNCH
Activision, Canopy Growth among Best Ideas for first half of 2019 at Benchmark
Benchmark analysts selected their Best Ideas for the first half of 2019, naming 16 stocks, including: Activision Blizzard (ATVI), BioTelemetry (BEAT), Biofrontera (BFRA), Ctrip (CTRP), Huazhu Group (HTHT), II-VI (IIVI), Intevac (IVAC), LHC Group (LHCG), Meredith (MDP), Marvell (MRVL), NeoGenomics (NEO), Pegasystems (PEGA), Silicon Labs (SLAB), Varonis (VRNS), Canopy Growth (CGC) and Waitr Holdings (WTRH).
01/02/19
RHCO
01/02/19
NO CHANGE
Target $65
RHCO
Buy
Activision Blizzard CFO transition to be 'fairly seamless', says SunTrust
SunTrust analyst Matthew Thornton kept his Buy rating and $65 price target on Activision Blizzard (ATVI) after the departure of its CFO Spencer Neumann to Netflix (NFLX). The analyst notes that the company's current Chief Corporate Officer Dennis Durkin is expected to step back into the CFO role which he has previously filled for over 5 years. Thornton expects that transition to be "fairly seamless" and without any business disruption given Durkin's history in the management team and his investor appeal.
01/02/19
RHCO
01/02/19
NO CHANGE
Target $355
RHCO
Buy
Netflix price target lowered to $355 from $410 at SunTrust
SunTrust analyst Matthew Thornton lowered his price target on Netflix (NFLX) to $355, saying that his proprietary Subscriber Tracker through November suggests that subscription additions are tracking "slightly below consensus" and the company's guidance. The analyst further notes that while the new key content through December should close the gap on the subscriber additions, he sees any "meaningful upside" as unlikely. Thornton is keeping his Buy rating on Netflix longer term, forecasting the content slate to strengthen into mid-year along with the company's latest appointment of Activision's (ATVI) Spencer Neumann as new CFO.
EA Electronic Arts
$90.36

1.47 (1.65%)

12/21/18
WEDB
12/21/18
NO CHANGE
Target $275
WEDB
Outperform
Apple, EA, Nordstrom, SLM removed from Wedbush's Best Ideas List
12/14/18
NEED
12/14/18
NO CHANGE
Target $100
NEED
Buy
Electronic Arts price target lowered to $100 from $150 at Needham
Needham analyst Laura Martin lowered her price target on Electronic Arts (EA) to $100 given the company's less inspiring game release slate in FY20 relative to FY19, noting that the margins on the Star Wars title expected next year are lower than this year's Battlefield because of Disney (DIS) royalties. The analyst also attributes the lower target to the market repricing of stocks "valued at over 4-times enterprise value to sales". Martin is keeping her Buy rating on Electronic Arts given the ownership of its own IP assets, loyalty of "super-fans", lower risk based on its dependence on title "sequels", and the under-40 age demographic of its target market. The analyst adds that while the company does not have a "Sports game creation problem", the same may not be said about action/adventure game creation.
12/10/18
PIPR
12/10/18
NO CHANGE
Target $105
PIPR
Overweight
Electronic Arts price target lowered to $105 from $148 at Piper Jaffray
Piper Jaffray analyst Michael Olson believes Electronic Arts' initial fiscal 2020 outlook will be conservative and is adjusting his estimates now, in advance of that initial guidance. The analyst says he would not be surprised if any preliminary framework for fiscal 2020 implies revenue and earnings per share below his newly revised estimates and well below the current consensus estimates of $5.6B and $5.15, respectively. Olson also dropped his price target for the shares to $105 from $148. He points out, however, that his new target still represents greater than 25% upside potential. As such, he keeps an Overweight rating on Electronic Arts.
GME GameStop
$15.89

-0.09 (-0.56%)

11/30/18
BNCH
11/30/18
NO CHANGE
Target $9
BNCH
Sell
GameStop 'has zero terminal value,' says Benchmark
Benchmark analyst Mike Hickey said he was not surprised that GameStop reduced its FY18 earnings view and free cash flow guidance given the weaker than anticipated new/used software sales, higher promotional expenses and a mix shift towards lower margin hardware sales evidenced in its Q3 report. The company appears "lost at sea" and its management team "lacks investor credibility," said Hickey, who believes GameStop "has zero terminal value." He sees the "Hail Mary" effort to sell the remainder of the company running up against "limited reasonable financial outcomes that would encourage a potential bid," Hickey added. The analyst keeps a Sell rating on GameStop shares and lowered his price target on the stock to $9 from $10.
11/30/18
WEDB
11/30/18
NO CHANGE
Target $18
WEDB
Outperform
GameStop sale to private equity 'imminent,' says Wedbush
Wedbush analyst reiterated an Outperform rating and $18 price target on GameStop following the company's mixed Q3 results and lowered FY18 guidance, telling investors in a research note that the threat from the digital mix shift is being overshadowed by the proposed Spring Mobile sale. Additionally, the analyst says he believes that a sale of GameStop to private equity is "imminent," as he thinks that if the continuation of GameStop as a standalone entity were a likelihood, the company would have identified CEO candidates since the departure of its CEO over six months ago.
11/30/18
LOOP
11/30/18
NO CHANGE
Target $13
LOOP
Hold
GameStop price target lowered to $13 from $15 at Loop Capital
Loop Capital analyst Anthony Chukumba lowered his price target on GameStop to $13 and kept his Hold rating after its Q3 results, saying he found the guidance reduction for the rest of 2018 as "troubling", particularly the "dramatic reduction" in its free cash flows. The analyst notes that the current "secular headwinds" give him little hope that performance will improve significantly any time soon.
11/29/18
BARD
11/29/18
NO CHANGE
Target $14
BARD
Outperform
GameStop quarter 'mixed' on disappointing pre-owned segment sales, says Baird
Baird analyst Colin Sebastian writes that GameStop Q3 results have come in mixed, with better than expected earnings but a lowered Q4 guidance given the "weakness in pre-owned sales and underperformance from recent sales promotions." The analyst states that the low guidance reflects the company's mix shift toward lower-margin hardware from high-margin software. Sebastian also keeps his Outperform rating and $14 price target on GameStop, adding that "importantly", the company is still in "discussions regarding potential strategic alternatives, including a potential sale".
MSFT Microsoft
$102.58

-1.73 (-1.66%)

01/03/19
PIPR
01/03/19
NO CHANGE
Target $187
PIPR
Overweight
Piper Jaffray says Apple's iOS retains dominant mobile platform position
Piper Jaffray analyst Michael Olson kept his Overweight rating and $187 price target on Apple after conducing an annual survey of CIOs from over 10 industries. The analyst notes that the survey gauged the reach of mobile platforms and devices supported and deployed, and the findings indicate that the iOS still hold a "dominant share of mobile platforms supported and devices provided". Olson adds that Apple's iOS and Microsoft's (MSFT) Windows "actually gained ground" relative to last year, while Android (GOOGL) lost market share.
01/10/19
KEYB
01/10/19
NO CHANGE
KEYB
KeyBanc remains bullish on MongoDB as Amazon unveils DocumentDB
KeyBanc analyst Brent Bracelin Amazon (AMZN) has unveiled a new cloud database called DocumentDB that emulates API functionality similar to MongoDB (MDB). The analyst believes this increases the competitive overlap with Amazon, but also validates the need for MongoDB's patented document-oriented database. We remain bullish on the prospects for MongoDB to sustain high growth based on a large $63B TAM that can support multiple players, differentiated functionality in MongoDB version 4.0 versus Amazon DocumentDB emulating version 3.6, and proprietary data analysis that validates robust MongoDB growth on Microsoft's (MSFT) Azure and Google (GOOGL; GOOG) Cloud suggests customers increasingly desire multi-cloud functionality.
01/08/19
KEYB
01/08/19
NO CHANGE
KEYB
Microsoft, Salesforce among top Software stocks to own in 2019, says KeyBanc
KeyBanc analyst Brent Bracelin notes that despite challenging market conditions during Q4, the 45 software applications in his coverage universe outperformed the broader market by a wide margin. While industry conditions for application software appear more volatile entering 2019, the analyst sees a favorable backdrop for modern cloud-based applications with recurring subscription-based revenue models and continues to favor growth over value. His top software application stocks to own for 2019 include Microsoft (MSFT), Synopsys (SNPS), PTC (PTC), RealPage (RP), Talend (TLND), Salesforce (CRM), Shopify (SHOP), Twilio (TWLO), Avalara (AVLR).
01/10/19
MSCO
01/10/19
NO CHANGE
Target $130
MSCO
Overweight
Survey gives Morgan Stanley confidence 'secular can trump cyclical' at Microsoft
Morgan Stanley analyst Keith Weiss said the firm's survey of 100 U.S. and European CIOs points to "strong" 2019 IT budget growth expectations of 4.7% year-over-year, which he notes is relatively in line with the 4.9% budget growth expected for 2018. The slight deceleration comes mostly from weaker European spending plans, as growth expectations among U.S. CIOs actually steps up to 5.5% growth called for in 2019 versus 5.3% for 2018, Weiss added. While investors' concerns about the durability of software growth broadly, and the durability of the more cyclical aspects of the Microsoft portfolio, are rising, the CIO survey gives Weiss confidence that the strong secular demand trends driving Microsoft's top-line should trump potential cyclical headwinds, he tells investors. Weiss keeps an Overweight rating on Microsoft with a $130 price target.
GOOG Alphabet
$1,061.00

-14.81 (-1.38%)

01/10/19
MSCO
01/10/19
DOWNGRADE
Target $29
MSCO
Underweight
Morgan Stanley sees revenue headwinds for Yelp, downgrades to Underweight
As previously reported, Morgan Stanley analyst Brian Nowak downgraded Yelp (YELP) to Underweight from Equal Weight as he identified three building revenue headwinds that he believes will lead to negative revisions and underperformance of the stock. First, Nowak sees the increased flexibility of Yelp's new non-term agreements leading to lower spend per customer. Second, he sees pricing compression risk given that his ad pricing analysis shows Yelp's average cost per click is still over four times higher than Google (GOOGL) and Facebook (FB). Third, he expects Yelp's declining user base to further hold back spend per customer. Nowak cut his price target on Yelp shares to $29 from $31, noting that his revised FY19 and FY20 EBITDA estimates are now 2% and 6%, respectively, below consensus.
01/10/19
01/10/19
UPGRADE
Target $39

Buy
BofA/Merrill upgrades Twitter two notches to Buy following social user survey
As previously reported, BofA Merrill Lynch analyst Justin Post upgraded Twitter (TWTR) two notches, to Buy from Underperform, after conducting a survey in early December of more than 1,000 U.S. consumers ages 18-65. The survey showed Twitter penetration increased to 48% of respondents and the percentage of users reporting deceased usage fell slightly. Improving metrics in the 18-29 demographic suggest more younger users are turning to Twitter, noted Post. The analyst, who sees Twitter as a strong play on video ad dollars shifting online and advertisers potentially diversifying their ad spending, raised his price target on Twitter shares to $39. Post added in the note to investors that the survey suggested Google (GOOGL) and Facebook's (FB) Instagram have the most positive usage trends, while the negative effects from Snap's (SNAP) redesign appear to have continued.
01/09/19
JEFF
01/09/19
NO CHANGE
JEFF
Jefferies says be selective in Internet, cuts targets on Snap and Facebook
Jefferies analyst Brent Thill this morning cut his price targets on a handful of names in the Internet space. In a research note titled "2019 Playbook," the analyst also downgraded Booking Holdings (BKNG) and Redfin (RDFN) to Hold from Buy. Thill tells investors to selective in the space, and recommends buying Amazon.com (AMZN), Alphabet (GOOGL) and Intuit (INTU) in large cap, Match Group (MTCH), IAC (IAC) and GoDaddy (GDDY) in mid cap, and Wix.com (WIX) and Trade Desk (TTD) in small cap. He expects TripAdvisor (TRIP), Shutterstock (SSTK) and Shutterstock (EIGI) to underperform. Among his price target cuts were Buy-rated Expedia (EXPE) to $150, Buy-rated Facebook to $180, Hold-rated Snap (SNAP) to $7, Hold-rated Sonos (SONO) to $12, Hold-rated Twitter (TWTR) to $33 and Hold-rated Zillow Group (ZG) to $34.
GOOGL Alphabet Class A
$1,068.76

-13.3 (-1.23%)

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