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ZM

Zoom Video

$70.27

-0.56 (-0.79%)

, PINS

Pinterest

$24.76

-1.215 (-4.68%)

10:11
10/15/19
10/15
10:11
10/15/19
10:11

Zoom Video, Pinterest slip as lock-ups for IPOs expire

Shares of both Zoom Video (ZM) and Pinterest (PINS) are sliding in early trading, which may be related to the expiration of lock-up periods related to the companies' respective IPOs. Zoom Video had priced 20.9M shares at $36 per share and opened for its first trade on April 18 at $65 per share. Pinterest, which also came public on April 18, had priced 75M shares at $19 and opened for trading at $23.75. Both companies' IPO offerings included 180-day lock-up periods that expired today. Lock-up agreements, a typical feature of company stock offerings, prevent certain shareholders from selling for a set amount of time after the offering. In morning trading, Zoom Video shares are down $1.06, or 1.5%, to $69.75, while Pinterest shares have fallen $1.42, or 5.5%, to $24.50.

ZM

Zoom Video

$70.27

-0.56 (-0.79%)

PINS

Pinterest

$24.76

-1.215 (-4.68%)

  • 15

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    Nov

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    Dec

ZM Zoom Video
$70.27

-0.56 (-0.79%)

09/16/19
09/16/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. American Finance Trust (AFIN) initiated with a Neutral at B. Riley FBR. 2. Investors Real Estate (IRET) initiated with a Buy at BTIG. 3. Preferred Apartment (APTS) initiated with a Buy at National Securities. 4. Enphase Energy (ENPH) initiated with an Overweight at JPMorgan. 5. Zoom Video (ZM) initiated with an Outperform at Baird. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/30/19
BOFA
09/30/19
DOWNGRADE
Target $21
BOFA
Underperform
BofA/Merrill downgrades 8x8 to Underperform, cuts price target to $21
As previously reported, BofA Merrill Lynch analyst Nikolay Beliov downgraded 8x8, Inc. (EGHT) to Underperform from Neutral and lowered his price target PO to $21 from $28, noting that Q1 subscription growth was only in-line "despite a beat-and-raise set-up" and that both mid-market ARR growth and enterprise ARR growth slowed in Q1 compared to the prior year. Additionally, he sees the company have "one of the worst sales efficiencies amongst peers," which makes it harder trying to compete with Zoom Video (ZM) and Twilio (TWLO), Beliov tells investors.
10/08/19
RBCM
10/08/19
NO CHANGE
Target $95
RBCM
Sector Perform
Zoom Video price target lowered to $95 from $99 at RBC Capital
RBC Capital analyst Alex Zukin lowered his price target on Zoom Video to $95 and kept his Sector Perform rating after meeting with its CFO and VP of Investor Relations. The analyst notes that the company has posted two consecutive quarters of strong results and also has several levers to generate growth and profitability at scale that include an opportunity with Zoom Phone and international expansion. However, the analyst is concerned with Zoom Video's competition from larger legacy firms and notes its "limited operating history", saying that its new price target reflects a more "consistent" enterprise value to expected sales multiple premium relative to the "high growth group."
10/11/19
GSCO
10/11/19
DOWNGRADE
Target $66
GSCO
Sell
Crowdstrike downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Heather Bellini downgraded Crowdstrike Holdings (CCRWD) to Sell from Neutral with a price target of $66, down from $83. The shares closed Thursday down $1.67 to $61.41. While CrowdStrike is very well positioned in the market for endpoint security, and can continue to post upside to estimates, a "blue sky analysis" suggests this is likely priced in at current share levels, Bellini tells investors in a research note. The analyst this morning also upgraded Workday (WDAY) to Buy from Neutral. Her "Blue Sky analyses" show that the companies with the highest potential upside to 2020 estimates are Zoom Video (ZM), Slack Technologies (WORK), and Elastic (ESTC).
PINS Pinterest
$24.76

-1.215 (-4.68%)

09/23/19
SIDC
09/23/19
NO CHANGE
Target $7
SIDC
Perion's ad solutions gaining traction, says Sidoti
Sidoti analyst Christopher McGinnis notes that Perion (PERI) has announced a strategic partnership with Pinterest (PINS) involving the company's MakeMeReach offering, which he views as in-line with Perion's strategy to transition the Advertising segment to higher growth segments of the ad market, with differentiated technology. The analyst models 2% revenue growth in 2019 and 3% in 2020. Although while he models a modest EPS decline of 5% in 2019, McGinnis expects EPS to rebound in 2020, up 15% to 65c, from the 56c he models in 2019. The analyst reiterates a $7 price target on Perion's shares.
09/25/19
BARD
09/25/19
NO CHANGE
Target $37
BARD
Outperform
Pinterest gaining prominence in consumer planning, says Baird
Baird analyst Colin Sebastian said his recent survey suggests Pinterest is gaining prominence in consumer planning and purchases. He continues to like Pinterest at current levels given the weakness related to its lock-up expiration and recalibrating Q3 revenue expectations. Sebastian reiterated his Outperform rating and $37 price target on Pinterest shares.
09/26/19
WELS
09/26/19
INITIATION
Target $34
WELS
Market Perform
Pinterest initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Brian Fitzgerald initiated Pinterest with a Market Perform rating and $34 price target, stating that while he believes there is significant runway in topline growth, digital ad revenue market share, and monetization he also believes the stock is fully valued at current levels.
09/27/19
09/27/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Pinterest (PINS) initiated with a Market Perform at Wells Fargo. 2. Coupa Software (COUP) initiated with an Outperform at Evercore ISI. 3. Lyft (LYFT) initiated with an Outperform at Wells Fargo while Uber (UBER) was initiated with a Market Perform. 4. Arcus Biosciences (RCUS) initiated with a Buy at Mizuho. 5. Brinker (EAT) initiated with a Buy at MKM Partners and DA Davidson. This 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

AAPL

Apple

$264.06

2.17 (0.83%)

, NFLX

Netflix

$286.81

-5.2 (-1.78%)

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CRK

Comstock Resources

$7.02

0.14 (2.03%)

, CHK

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Treasury Action: both bonds and stocks are bullish today »

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NTAP

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$60.60

0.48 (0.80%)

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WHR

Whirlpool

$150.00

-5.36 (-3.45%)

12:45
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Whirlpool call volume above normal and directionally bullish »

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GOOGL

Alphabet Class A

$1,299.26

2.08 (0.16%)

, GOOG

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$1,301.02

2.25 (0.17%)

12:40
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GOOGL

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$1,299.26

2.08 (0.16%)

GOOG

Alphabet

$1,301.02

2.25 (0.17%)

FB

Facebook

$193.29

-1.18 (-0.61%)

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12:40
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General news
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AVP

Avon Products

$4.47

-0.075 (-1.65%)

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LJPC

La Jolla

$6.81

0.11 (1.64%)

12:36
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La Jolla price target…

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VZ

Verizon

$59.33

-0.01 (-0.02%)

, NFLX

Netflix

$290.50

-1.51 (-0.52%)

12:31
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Shares of Walt Disney…

VZ

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$59.33

-0.01 (-0.02%)

NFLX

Netflix

$290.50

-1.51 (-0.52%)

DIS

Disney

$140.90

2.34 (1.69%)

03/08/13
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03/06/13
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03/06/13
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GOOGL

Alphabet Class A

$1,299.86

2.68 (0.21%)

, C

Citi

$74.61

-0.47 (-0.63%)

12:31
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On The Fly
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Stocks looked in…

GOOGL

Alphabet Class A

$1,299.86

2.68 (0.21%)

C

Citi

$74.61

-0.47 (-0.63%)

NKE

Nike

$90.55

1.04 (1.16%)

AMZN

Amazon.com

$1,762.55

-15.78 (-0.89%)

DKS

Dick's Sporting

$40.24

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GOOG

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$1,300.57

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AAPL

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$264.06

2.17 (0.83%)

GS

Goldman Sachs

$218.71

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TECD

Tech Data

$131.30

5.91 (4.71%)

APO

Apollo Global

$42.95

0.015 (0.03%)

DDOG

Datadog

$39.87

5.47 (15.90%)

CDLX

Cardlytics

$52.02

12.17 (30.54%)

LK

Luckin Coffee

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2.32 (12.21%)

CSIQ

Canadian Solar

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SDC

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$9.02

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I

Intelsat

$13.93

-6.46 (-31.68%)

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CSCO

Cisco

$48.63

0.25 (0.52%)

, ACIA

Acacia Communications

$67.39

0.11 (0.16%)

12:27
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On The Fly
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CSCO

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$48.63

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ACIA

Acacia Communications

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DDOG

Datadog

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5.39 (15.67%)

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IRTC

iRhythm

$61.56

-5.885 (-8.73%)

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IRTC

iRhythm

$61.02

-6.425 (-9.53%)

12:19
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IRTC

iRhythm

$61.02

-6.42 (-9.52%)

12:19
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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
11/13/19
11/13
12:17
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12:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
11/13/19
11/13
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12:16
Technical Analysis
NYSE market internals summary »

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STNE

StoneCo

$35.85

-0.15 (-0.42%)

12:15
11/13/19
11/13
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Options
StoneCo put volume heavy and directionally bearish »

Bearish flow noted in…

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  • 21

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12:15
11/13/19
11/13
12:15
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12:15
General news
Powell: the outlook is still positive and there's no reason why the expansion cannot continue »

Powell: the outlook is…

12:15
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11/13
12:15
11/13/19
12:15
General news
Breaking General news story  »

Richmond Federal Reserve…

12:15
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ACCO

Acco Brands

$9.34

-0.02 (-0.21%)

12:13
11/13/19
11/13
12:13
11/13/19
12:13
Conference/Events
Acco Brands management to meet with Barrington »

Meeting to be held in…

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INVE

Identiv

$4.92

-0.08 (-1.60%)

12:08
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