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MSFT

Microsoft

$102.77

-0.83 (-0.80%)

, SYMC

Symantec

$19.86

-0.22 (-1.10%)

06:58
01/14/19
01/14
06:58
01/14/19
06:58

Microsoft security Portfolio 'flying below the radar,' says Deutsche Bank

The prevailing Street narrative about Microsoft's (MSFT) security suite is that it is "good enough" for a segment of the market but not particularly competitive against enterprise pure-plays such as Symantec (SYMC), Proofpoint (PFPT) or Okta (OKTA), Deutsche Bank analyst Karl Keirstead tells investors in a research note titled "Security is a New Growth Engine." However, the analyst says his field checks over the last few quarters have indicated a "clear tone shift" from customers and partners, with more flagging material investments by Microsoft in its security suite and real traction among enterprise customers. He believes Microsoft 's security portfolio is "flying below the radar" of most Street analysts and is central to the company's "emerging" average revenue per user growth story. Keirstead keeps a Buy rating on Microsoft.

MSFT

Microsoft

$102.77

-0.83 (-0.80%)

SYMC

Symantec

$19.86

-0.22 (-1.10%)

PFPT

Proofpoint

$91.66

1.49 (1.65%)

OKTA

Okta

$68.42

-0.4 (-0.58%)

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MSFT Microsoft
$102.77

-0.83 (-0.80%)

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.
01/08/19
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
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.
01/10/19
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.
SYMC Symantec
$19.86

-0.22 (-1.10%)

10/18/18
WEDB
10/18/18
INITIATION
WEDB
Neutral
Symantec initiated with a Neutral at Wedbush
10/19/18
WEDB
10/19/18
INITIATION
Target $19
WEDB
Neutral
Symantec initiated with a Neutral at Wedbush
Wedbush analyst Daniel Ives initiated Symantec with a Neutral rating and $19 price target, telling investors that while Symantec fundamentally still has a core enterprise security customer base and product franchise which has clear value and growth potential, he believes more pain is still ahead as FY19/FY20 Street numbers appear somewhat aggressive with his checks indicating integration issues and longer sales cycles are getting worse and not better in the field. In the near-term the uncertainty from the investigation, sales force turnover, and company specific headwinds keep him on the sidelines on this name.
11/06/18
LEHM
11/06/18
NO CHANGE
LEHM
Equal Weight
Symantec worth $30-$35 in deal if given Barracuda multiple, says Barclays
If given a similar multiple to Barracuda, which was bought for 20 times current year cash flow, Symantec would be worth $30 to $35 per share in a buyout, Barclays analyst Saket Kalia tells investors in a research note. The analyst points out that Thoma Bravo, which Reuters reported today has approached Symantec to express interest in a potential takeover, acquired Blue Coat in 2012, taking it private until 2015 when it sold the business to Symantec. As such, the private equity firm has been active in security, Kalia adds. He has an Equity Weight rating on Symantec. The stock in midday trading is p 14%, or $2.80, to $22.82.
11/06/18
WEDB
11/06/18
NO CHANGE
WEDB
Symantec shares could be worth $26-$30 in buyout, says Wedbush
After Reuters reported that private equity firm Thoma Bravo has approached Symantec to express interest in a potential takeover, Wedbush analyst Daniel Ives says the company could be worth $26-$30 in a buyout deal. The stock in midday trading is up 14%, or $2.79, to $22.81. The analyst, who has a Neutral rating on Symantec, expects M&A activity in cybersecurity to accelerate in the next 12 to 18 months.
PFPT Proofpoint
$91.66

1.49 (1.65%)

10/29/18
KEYB
10/29/18
UPGRADE
KEYB
Overweight
Proofpoint upgraded to Overweight from Sector Weight at KeyBanc
10/29/18
10/29/18
UPGRADE
Target $120

Overweight
Proofpoint upgraded to Overweight as pullback creates opportunity at KeyBanc
As previously reported, KeyBanc analyst Rob Owens upgraded Proofpoint to Overweight from Sector Weight, with $120 price target. While last week's earnings results and, more importantly, 2019 guidance disappointed the Street, last week's over-reaction in shares has created a compelling opportunity, he contends.
12/10/18
GUGG
12/10/18
INITIATION
Target $110
GUGG
Buy
Proofpoint initiated with a Buy at Guggenheim
Guggenheim analyst Imtiaz Koujalgi started Proofpoint with a Buy rating and $110 price target.
01/08/19
WEDB
01/08/19
NO CHANGE
Target $115
WEDB
Outperform
Proofpoint price target lowered to $115 from $124 at Wedbush
Wedbush analyst Steve Koenig lowered his price target for Proofpoint to $115 from $124, while reiterating an Outperform rating on the shares. His channel checks point to traction with operational adjustments and sales enablement improvements, accelerating cross-selling with Wombat, and continuing competitive differentiation. Also, the security demand environment continues to be solid, providing the basis for good Q4 achievement and more consistent execution in FY19, he adds. Based on the tone of his checks, Koenig's "educated guess" is that Proofpoint met its Q4 internal targets soundly. Although Q1 billings seasonality is expected to be light, the analyst expects acceleration in revenue and billings as FY19 progresses, and is enthusiastic about the opportunity for investors at the current valuation.
OKTA Okta
$68.42

-0.4 (-0.58%)

01/11/19
PIPR
01/11/19
INITIATION
Target $80
PIPR
Overweight
Okta initiated with an Overweight at Piper Jaffray
Piper Jaffray analyst Andrew Nowinski started Okta with an Overweight rating and $80 price target. The analyst believes the "Single Sign-On" market is the top security spending priority in 2019. Further, Okta's integration network is a sustainable competitive advantage, which the company can leverage to drive growth for the next five-plus years. Nowinski tells investors in a research note.
12/19/18
12/19/18
INITIATION

Fly Intel: 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 Citi. 2. Match Group (MTCH) initiated with a Hold at SunTrust. 3. ShotSpotter (SSTI) initiated with an Outperform at Baird. 4. Okta (OKTA) initiated with a Neutral at DA Davidson. 5. Cellectis (CLLS) initiated with a Neutral at 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.
12/18/18
DADA
12/18/18
INITIATION
Target $62
DADA
Neutral
Okta initiated with a Neutral at DA Davidson
DA Davidson analyst Rishi Jaluria initiated Okta with a Neutral rating and a price target of $62. The analyst is positive on the "value proposition" of the company, along with its "market leadership position and rapid growth", but believes that its stock price is "fully valued" at 12-times enterprise value to expected 2020 revenue. Jaluria adds that he awaits a "better entry point" before becoming more constructive on Okta stock.
01/11/19
01/11/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Activision Blizzard (ATVI), Take-Two (TTWO), Electronic Arts (EA), Glu Mobile (GLUU) were initiated with an Overweight at Stephens, while the analyst also initiated Zynga (ZNGA) and Ubisoft (UBSFY) with an Equal Weight. 2. Domino's Pizza (DPZ) initiated with an Outperform at Cowen. 3. Okta (OKTA) and Zscaler (SZ) initiated with an Overweight at Piper Jaffray. 4. Lennar (LEN), D.R. Horton (DHI) and NVR (NVR) initiated with a Buy and KB Home (KBH), PulteGroup (PHM), Hovnanian (HOV) and Toll Brothers (TOL) initiated with a Neutral at Buckingham. 5. VMware (VMW) reinstated with a Neutral at Goldman SachsThis list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

NFLX

Netflix

$352.83

1.68 (0.48%)

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Wells Fargo

$48.74

-0.19 (-0.39%)

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SHLD

Sears

$0.00

(0.00%)

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MRVL

Marvell

$16.43

-0.2 (-1.20%)

11:35
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Marvell put volume heavy and directionally bearish »

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Treasury announced an $81 B 3- and 6-month bill sale for Tuesday »

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MOFG

MidWestOne

$25.94

-0.03 (-0.12%)

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JPM

JPMorgan

$102.10

-0.38 (-0.37%)

, PYPL

PayPal

$90.34

-0.18 (-0.20%)

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JPM

JPMorgan

$102.10

-0.38 (-0.37%)

PYPL

PayPal

$90.34

-0.18 (-0.20%)

MA

MasterCard

$198.34

0.56 (0.28%)

V

Visa

$137.01

-0.31 (-0.23%)

AXP

American Express

$99.38

-0.02 (-0.02%)

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FB

Facebook

$148.78

1.3 (0.88%)

11:26
01/17/19
01/17
11:26
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11:26
Periodicals
Facebook manager quits after being 'harassed' over views, CNBC reports »

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USO

United States Oil Fund

$10.77

-0.275 (-2.49%)

11:20
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Size straddle crossed firm-to-firm tied to stock in US Oil ETF »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

11:17
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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

11:16
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Fed VC of Supervision Quarles said the economy is very strong »

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BNPQY

BNP Paribas

$0.00

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, SCGLY

Societe Generale

$0.00

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NDAQ

Nasdaq

$82.91

-0.07 (-0.08%)

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AMRN

Amarin

$17.30

0.68 (4.09%)

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FFIV

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$156.81

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, CMG

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$515.33

0.83 (0.16%)

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FFIV

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CMG

Chipotle

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PUMP

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