Splunk management to meet virtually with Piper Sandler » 15:2409/2409/24/21
Virtual Meeting to be…
Virtual Meeting to be held on September 29 hosted by Piper Sandler.
Fly Intel: Top five analyst upgrades » 09:5609/2409/24/21
CRM, CNP, SR, TENB, BJRI, CHUY, PLAY, RRGB, CAKE
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Salesforce (CRM) upgraded to Overweight from Neutral at Piper Sandler with analyst Brent Bracelin saying in-person conversations with new leadership over the last two days give him confidence that Salesforce should see a "multi-year period of multiple and profit expansion tied to operating discipline and organic investments that can sustain growth." 2. CenterPoint Energy (CNP) upgraded to Overweight from Sector Weight at KeyBanc with analyst Sophie Karp saying CenterPoint's refreshed growth projections at its analyst day point toward the upper end of prior guidance and the peer-group average rate and the exit from midstream appears in sight and substantially de-risked. 3. Spire (SR) upgraded to Buy from Neutral at Mizuho with analyst Gabriel Moreen believing the market is now fully discounting a "worst-case outcome" to the STL Pipeline saga. 4. Tenable Holdings (TENB) upgraded to Buy from Hold at Berenberg with analyst Andrew Smith saying he believes vulnerability management is "a foundational piece of a sound security strategy" and based on conversations with customers and survey results from the Black Hat conference he sees mitigating risks as "a key driver of security spend." 5. BJ's Restaurants (BJRI), Chuy's (CHUY), Dave & Buster's (PLAY), Red Robin (RRGB) and Cheesecake Factory (CAKE) all upgraded to Buy from Hold at Jefferies with analyst Andy Barish turning"incrementally more positive" on the casual dining sector following the selloff in the space driven by delta variant and inflation concerns. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Calix could see slowdown at small broadband ISPs, says BWS Financial » 08:5309/2409/24/21
CALX, CMCSA, ATUS
BWS Financial analyst…
BWS Financial analyst Hamed Khorsand notes that internet service providers such as Comcast (CMCSA) and Altice USA (ATUS) are beginning to report declines in broadband subscribers and raises a concern that a slowdown in subscriber adds could lead to Calix (CALX) seeing a slowdown in spending from small broadband service providers. The analyst, who contends that Calix shares are "priced for perfection when there are signs of growth waning," keeps a Sell rating and $13 price target on the stock.
Tenable Holdings assumed at Buy from Hold at Berenberg » 08:1909/2409/24/21
As previously reported,…
As previously reported, Berenberg analyst Andrew Smith upgraded Tenable Holdings to Buy from Hold with a $55 price target as he assumed coverage of three vulnerability management software names. He believes vulnerability management is "a foundational piece of a sound security strategy" and based on conversations with customers and survey results from the Black Hat conference he sees mitigating risks as "a key driver of security spend," Smith tells investors. Tenable is "a long time pure-play VM name" and he believes the company is "taking encouraging steps to strategically expand the platform with relevant adjacent technologies," Smith said.
Tenable Holdings upgraded to Buy from Hold at Berenberg » 07:5609/2409/24/21
Berenberg upgraded Tenable Holdings to Buy from Hold.
Dell Technologies price target lowered to $126 from $133 at Morgan Stanley » 07:5409/2409/24/21
Morgan Stanley analyst…
Morgan Stanley analyst Katy Huberty lowered the firm's price target on Dell Technologies (DELL) to $126 from $133 and keeps an Overweight rating on the shares following the company's analyst day meeting. She describes the meeting as being "as expected," but also an event that "brought Dell's attractive core valuation into focus." Dell offered a "conservative, but compelling" long-term outlook that sets it up, along with its share repurchases and dividends, for a re-rating following its planned VMware (VMW) spinoff, Huberty tells investors. Her lowered price target reflects an updated sum-of-the-parts view, she noted.
Fly Intel: Pre-market Movers » 08:5509/2309/23/21
DELL, CRM, AMHC, MGM, DRI, BB, RAD, SCS, EAR, SYBX, VMW
Check out this morning's…
Dell Technologies to announce approval of $5B share repurchase plan » 08:1409/2309/23/21
Dell Technologies (DELL)…
Dell Technologies (DELL) will announce approval of a share repurchase program of up to $5B effective November 2021, upon the projected completion of the VMware (VMW) spin-off, at which time it expects to reach investment-grade corporate family credit rating. In addition, the company will announce that it plans to initiate a quarterly dividend with an attractive yield in its fiscal 2023 first quarter, subject to approval by its board of directors, targeting an annual dividend of approximately $1B. The company will announce the actual dividend rate and other information about the dividend program upon board approval. Dell Technologies is targeting returning 40%-60% of adjusted free cash flow to shareholders through share repurchases and dividends, starting in fiscal 2023.
Outbrain, Pijper Media enter multiyear partnership agreement » 09:0709/2209/22/21
Outbrain announced a new…
Outbrain announced a new partnership agreement with Pijper Media, a media owner in The Netherlands. Via a multiyear partnership, Outbrain will be exclusively managing audience engagement and development via the company's recommendation technology across all the websites within the Pijper Media's network. Pijper Media, which includes brands such as Grazia, Marie Claire, and Beau Monde, serves more than 12 millions page views per month to their Dutch audience.
SentinelOne appoints Keenan Conder as Chief Legal Officer » 09:0609/2209/22/21
SentinelOne announced the appointment of Keenan Conder as Chief Legal Officer and Corporate Secretary. Mr. Conder replaces Efi Harari who has been the company's Chief Legal Officer since June 2017 and has recently transitioned to Chief of Staff.