Jefferies expects rally in Software stocks to continue. Jefferies analyst John DiFucci thinks June quarter results in the Software space "could be relatively strong." The analyst estimates that the currency translation impact for the average software company should be a weaker tailwind than when guidance was given, resulting in a headwind of approximately 180 basis points. He expects the "meaningful, warranted appreciation" in some stocks to continue and raised his price targets accordingly. DiFucci upped his price target for Apptio (APTI) to $43 from $36, for Benefitfocus (BNFT) to $43 from $35, for Check Point (CHKP) to $127 from $117, for Tableau (DATA) to $100 from $87, for Nice Systems (NICE) to $127 from $119, for RingCentral (RNG) to $95 from $91, and for Varonis (VRNS) to $92 from $77. All stocks except Hold-rated Tableau are Buy rated by the analyst.
