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Recommendations
Citi names top software picks with sector de-rating 'mostly done' » 06:40
06/24/22
06/24
06:40
06/24/22
06:40
MSFT

Microsoft

$258.90 /

+5.75 (+2.27%)

, NOW

ServiceNow

$485.84 /

+26.99 (+5.88%)

, MDB

MongoDB

$290.62 /

+23.31 (+8.72%)

, ESTC

Elastic

$72.35 /

+3.1 (+4.48%)

, TEAM

Atlassian

$193.24 /

+7.66 (+4.13%)

, FTNT

Fortinet

$56.81 /

+1.095 (+1.97%)

, CRWD

Crowdstrike

$174.94 /

+9.13 (+5.51%)

Citi analysts Tyler Radke…

Citi analysts Tyler Radke and Fatima Boolani say that with valuation multiples near multi-year lows, they believe the software sector "de-rating is mostly done." While valuations have largely stabilized, there is still potential for more volatility ahead, driven by risks to estimates in the second half of 2022, the analysts tell investors in a research note. Their updated top picks across applications and data management "have more of a defensive posture" with ServiceNow (NOW) and Microsoft (MSFT) at the top. The companies are most exposed to "still resilient" IT budgets, Radke and Boolani contend. They are taking a "more selective approach to high growth" where they have confidence in the durability of growth for MongoDB (MDB) and Elastic (ESTC). In infrastructure and security, they like Atlassian (TEAM), Fortinet (FTNT) and Crowdstrike (CRWD).

ShowHide Related Items >><<
TEAM Atlassian
$193.24 /

+7.66 (+4.13%)

NOW ServiceNow
$485.84 /

+26.99 (+5.88%)

MSFT Microsoft
$258.90 /

+5.75 (+2.27%)

MDB MongoDB
$290.62 /

+23.31 (+8.72%)

FTNT Fortinet
$56.81 /

+1.095 (+1.97%)

ESTC Elastic
$72.35 /

+3.1 (+4.48%)

CRWD Crowdstrike
$174.94 /

+9.13 (+5.51%)

MSFT Microsoft
$258.90 /

+5.75 (+2.27%)

06/17/22 Morgan Stanley
Microsoft gaming build out hitting 'overdrive,' says Morgan Stanley
06/16/22 Credit Suisse
Credit Suisse says Microsoft Azure growth opportunity not reflected in estimates
06/13/22 Jefferies
Microsoft price target lowered to $320 from $325 at Jefferies
06/10/22 Barclays
Microsoft price target lowered to $335 from $363 at Barclays
NOW ServiceNow
$485.84 /

+26.99 (+5.88%)

05/25/22 Stifel
ServiceNow price target lowered to $550 from $650 at Stifel
05/25/22 Mizuho
ServiceNow price target lowered to $550 from $650 at Mizuho
05/25/22 Piper Sandler
ServiceNow price target lowered to $600 from $650 at Piper Sandler
05/23/22 Jefferies
ServiceNow price target lowered to $550 from $700 at Jefferies
MDB MongoDB
$290.62 /

+23.31 (+8.72%)

06/10/22 Needham
MongoDB price target raised to $350 from $310 at Needham
06/09/22 RBC Capital
MongoDB price target raised to $375 from $325 at RBC Capital
06/08/22 Tigress Financial
MongoDB recent pullback 'major buying opportunity,' says Tigress Financial
06/08/22 UBS
MongoDB price target raised to $345 from $315 at UBS
ESTC Elastic
$72.35 /

+3.1 (+4.48%)

06/02/22 Citi
Elastic price target raised to $125 from $97 at Citi
06/02/22 Stifel
Elastic price target lowered to $100 from $125 at Stifel
06/02/22 Piper Sandler
Elastic price target lowered to $85 from $155 at Piper Sandler
05/31/22 RBC Capital
Elastic price target lowered to $110 from $133 at RBC Capital
TEAM Atlassian
$193.24 /

+7.66 (+4.13%)

05/23/22 Jefferies
Atlassian price target lowered to $180 from $275 at Jefferies
05/18/22 Wells Fargo
Atlassian price target lowered to $300 from $400 at Wells Fargo
05/16/22 Mizuho
Atlassian price target lowered to $360 from $500 at Mizuho
05/10/22 Truist
Atlassian price target lowered to $220 from $375 at Truist
FTNT Fortinet
$56.81 /

+1.095 (+1.97%)

06/16/22 Cleveland Research
Fortinet Q2 revenue growth forecast raised at Cleveland Research
05/12/22 BMO Capital
Fortinet price target lowered to $325 from $360 at BMO Capital
05/11/22 Daiwa
Fortinet upgraded to Buy from Outperform at Daiwa
05/11/22 Deutsche Bank
Fortinet price target lowered to $300 from $320 at Deutsche Bank
CRWD Crowdstrike
$174.94 /

+9.13 (+5.51%)

06/06/22 Morgan Stanley
Crowdstrike upgraded to Overweight from Equal Weight at Morgan Stanley
06/03/22 Morgan Stanley
Crowdstrike price target raised to $195 from $181 at Morgan Stanley
06/03/22 Jefferies
Crowdstrike price target raised to $215 from $200 at Jefferies
06/03/22 DA Davidson
Crowdstrike price target lowered to $235 from $280 at DA Davidson
TEAM Atlassian
$193.24 /

+7.66 (+4.13%)

NOW ServiceNow
$485.84 /

+26.99 (+5.88%)

MSFT Microsoft
$258.90 /

+5.75 (+2.27%)

MDB MongoDB
$290.62 /

+23.31 (+8.72%)

FTNT Fortinet
$56.81 /

+1.095 (+1.97%)

ESTC Elastic
$72.35 /

+3.1 (+4.48%)

CRWD Crowdstrike
$174.94 /

+9.13 (+5.51%)

  • 30
    Jun
MSFT Microsoft
$258.90 /

+5.75 (+2.27%)

FTNT Fortinet
$56.81 /

+1.095 (+1.97%)

CRWD Crowdstrike
$174.94 /

+9.13 (+5.51%)

TEAM Atlassian
$193.24 /

+7.66 (+4.13%)

NOW ServiceNow
$485.84 /

+26.99 (+5.88%)

MSFT Microsoft
$258.90 /

+5.75 (+2.27%)

MDB MongoDB
$290.62 /

+23.31 (+8.72%)

FTNT Fortinet
$56.81 /

+1.095 (+1.97%)

ESTC Elastic
$72.35 /

+3.1 (+4.48%)

CRWD Crowdstrike
$174.94 /

+9.13 (+5.51%)

TEAM Atlassian
$193.24 /

+7.66 (+4.13%)

NOW ServiceNow
$485.84 /

+26.99 (+5.88%)

MSFT Microsoft
$258.90 /

+5.75 (+2.27%)

MDB MongoDB
$290.62 /

+23.31 (+8.72%)

FTNT Fortinet
$56.81 /

+1.095 (+1.97%)

ESTC Elastic
$72.35 /

+3.1 (+4.48%)

CRWD Crowdstrike
$174.94 /

+9.13 (+5.51%)

Over a week ago
Options
ServiceNow put volume heavy and directionally bearish » 15:15
06/09/22
06/09
15:15
06/09/22
15:15
NOW

ServiceNow

$497.36 /

-7.84 (-1.55%)

Bearish flow noted in…

Bearish flow noted in ServiceNow with 4,625 puts trading, or 1.3x expected. Most active are 7/8 weekly 250 puts and Jun-22 780 calls, with total volume in those strikes near 1,800 contracts. The Put/Call Ratio is 1.78, while ATM IV is up over 1 point on the day. Earnings are expected on July 27th.

ShowHide Related Items >><<
NOW ServiceNow
$497.36 /

-7.84 (-1.55%)

NOW ServiceNow
$497.36 /

-7.84 (-1.55%)

05/25/22 Stifel
ServiceNow price target lowered to $550 from $650 at Stifel
05/25/22 Mizuho
ServiceNow price target lowered to $550 from $650 at Mizuho
05/25/22 Piper Sandler
ServiceNow price target lowered to $600 from $650 at Piper Sandler
05/23/22 Jefferies
ServiceNow price target lowered to $550 from $700 at Jefferies
NOW ServiceNow
$497.36 /

-7.84 (-1.55%)

NOW ServiceNow
$497.36 /

-7.84 (-1.55%)

NOW ServiceNow
$497.36 /

-7.84 (-1.55%)

Conference/Events
ServiceNow participates in a conference call hosted by Mizuho » 05:55
06/09/22
06/09
05:55
06/09/22
05:55
NOW

ServiceNow

$505.52 /

-0.77 (-0.15%)

Mizuho holds a conference…

Mizuho holds a conference call with management on June 9.

ShowHide Related Items >><<
NOW ServiceNow
$505.52 /

-0.77 (-0.15%)

NOW ServiceNow
$505.52 /

-0.77 (-0.15%)

05/25/22 Stifel
ServiceNow price target lowered to $550 from $650 at Stifel
05/25/22 Mizuho
ServiceNow price target lowered to $550 from $650 at Mizuho
05/25/22 Piper Sandler
ServiceNow price target lowered to $600 from $650 at Piper Sandler
05/23/22 Jefferies
ServiceNow price target lowered to $550 from $700 at Jefferies
NOW ServiceNow
$505.52 /

-0.77 (-0.15%)

NOW ServiceNow
$505.52 /

-0.77 (-0.15%)

NOW ServiceNow
$505.52 /

-0.77 (-0.15%)

Conference/Events
ServiceNow participates in a conference call hosted by Mizuho » 07:32
06/07/22
06/07
07:32
06/07/22
07:32
NOW

ServiceNow

$491.75 /

-1.09 (-0.22%)

Mizuho holds a conference…

Mizuho holds a conference call with management on June 9.

ShowHide Related Items >><<
NOW ServiceNow
$491.75 /

-1.09 (-0.22%)

NOW ServiceNow
$491.75 /

-1.09 (-0.22%)

05/25/22 Stifel
ServiceNow price target lowered to $550 from $650 at Stifel
05/25/22 Mizuho
ServiceNow price target lowered to $550 from $650 at Mizuho
05/25/22 Piper Sandler
ServiceNow price target lowered to $600 from $650 at Piper Sandler
05/23/22 Jefferies
ServiceNow price target lowered to $550 from $700 at Jefferies
NOW ServiceNow
$491.75 /

-1.09 (-0.22%)

NOW ServiceNow
$491.75 /

-1.09 (-0.22%)

NOW ServiceNow
$491.75 /

-1.09 (-0.22%)

Hot Stocks
ServiceNow to acquire Hitch Works, terms undisclosed » 09:04
06/03/22
06/03
09:04
06/03/22
09:04
NOW

ServiceNow

$504.80 /

+29.35 (+6.17%)

ServiceNow announced it…

ServiceNow announced it has signed an agreement to acquire Hitch Works, a skills mapping and intelligence company. Hitch will add a new layer of AI-powered skills insights to the Now Platform to help customers address talent gaps by tying employee learning and development to workforce planning. Companies will be able to more effectively match people to projects - all from a single platform. Hitch was founded by HR-industry veteran Kelley Steven-Waiss, who served as CHRO and CIO of Here Technologies prior to founding Hitch. The company is led by CEO Heather Jerrehian. Both leaders are expected to remain with ServiceNow post-acquisition. ServiceNow expects to close the acquisition in Q2.

ShowHide Related Items >><<
NOW ServiceNow
$504.80 /

+29.35 (+6.17%)

NOW ServiceNow
$504.80 /

+29.35 (+6.17%)

05/25/22 Stifel
ServiceNow price target lowered to $550 from $650 at Stifel
05/25/22 Mizuho
ServiceNow price target lowered to $550 from $650 at Mizuho
05/25/22 Piper Sandler
ServiceNow price target lowered to $600 from $650 at Piper Sandler
05/23/22 Jefferies
ServiceNow price target lowered to $550 from $700 at Jefferies
NOW ServiceNow
$504.80 /

+29.35 (+6.17%)

NOW ServiceNow
$504.80 /

+29.35 (+6.17%)

NOW ServiceNow
$504.80 /

+29.35 (+6.17%)

Options
Early notable gainers among liquid option names on June 1st » 09:55
06/01/22
06/01
09:55
06/01/22
09:55
CRM

Salesforce

$180.88 /

+20.28 (+12.63%)

, ADBE

Adobe

$434.57 /

+18.42 (+4.43%)

, NOW

ServiceNow

$485.74 /

+18.29 (+3.91%)

, AMZN

Amazon.com

$2,470.82 /

+66.26 (+2.76%)

, APA

APA Corp.

$48.47 /

+1.38 (+2.93%)

Notable gainers among…

Notable gainers among liquid option names this morning include Salesforce (CRM) $183.72 +23.47, Adobe (ADBE) $436.25 +19.77, ServiceNow (NOW) $487.05 +19.58, Amazon (AMZN) $2496.47 +92.28, and Apache (APA) $48.55 +1.54.

ShowHide Related Items >><<
NOW ServiceNow
$485.74 /

+18.29 (+3.91%)

CRM Salesforce
$180.88 /

+20.28 (+12.63%)

APA APA Corp.
$48.47 /

+1.38 (+2.93%)

AMZN Amazon.com
$2,470.82 /

+66.26 (+2.76%)

ADBE Adobe
$434.57 /

+18.42 (+4.43%)

CRM Salesforce
$180.88 /

+20.28 (+12.63%)

06/01/22 RBC Capital
Salesforce margin outlook overshadowed lower revenue guide, says RBC Capital
06/01/22 BMO Capital
Salesforce price target lowered to $225 from $260 at BMO Capital
06/01/22 Stifel
Salesforce price target lowered to $250 from $300 at Stifel
06/01/22 Deutsche Bank
Salesforce price target lowered to $260 from $300 at Deutsche Bank
ADBE Adobe
$434.57 /

+18.42 (+4.43%)

05/23/22 Jefferies
Adobe price target lowered to $550 from $570 at Jefferies
05/18/22 Wells Fargo
Adobe price target lowered to $525 from $600 at Wells Fargo
03/29/22 Exane BNP Paribas
Adobe initiated with an Outperform at Exane BNP Paribas
03/28/22 Argus
Adobe price target lowered to $575 from $764 at Argus
NOW ServiceNow
$485.74 /

+18.29 (+3.91%)

05/25/22 Stifel
ServiceNow price target lowered to $550 from $650 at Stifel
05/25/22 Mizuho
ServiceNow price target lowered to $550 from $650 at Mizuho
05/25/22 Piper Sandler
ServiceNow price target lowered to $600 from $650 at Piper Sandler
05/23/22 Jefferies
ServiceNow price target lowered to $550 from $700 at Jefferies
AMZN Amazon.com
$2,470.82 /

+66.26 (+2.76%)

06/01/22 JPMorgan
Amazon.com remains best e-commerce idea at JPMorgan
06/01/22 Morgan Stanley
Amazon price target lowered to $3,500 from $3,800 at Morgan Stanley
06/01/22 Morgan Stanley
Amazon.com price target lowered to $3,500 from $3,800 at Morgan Stanley
06/01/22 JMP Securities
Amazon.com resumed with an Outperform at JMP Securities
APA APA Corp.
$48.47 /

+1.38 (+2.93%)

05/31/22 Mizuho
APA Corp. price target raised to $60 from $56 at Mizuho
05/25/22 Barclays
APA Corp. price target lowered to $54 from $56 at Barclays
04/25/22 Raymond James
APA Corp. price target raised to $75 from $59 at Raymond James
04/25/22 Susquehanna
APA Corp. price target raised to $52 from $42 at Susquehanna
NOW ServiceNow
$485.74 /

+18.29 (+3.91%)

CRM Salesforce
$180.88 /

+20.28 (+12.63%)

APA APA Corp.
$48.47 /

+1.38 (+2.93%)

AMZN Amazon.com
$2,470.82 /

+66.26 (+2.76%)

ADBE Adobe
$434.57 /

+18.42 (+4.43%)

CRM Salesforce
$180.88 /

+20.28 (+12.63%)

AMZN Amazon.com
$2,470.82 /

+66.26 (+2.76%)

ADBE Adobe
$434.57 /

+18.42 (+4.43%)

NOW ServiceNow
$485.74 /

+18.29 (+3.91%)

CRM Salesforce
$180.88 /

+20.28 (+12.63%)

APA APA Corp.
$48.47 /

+1.38 (+2.93%)

AMZN Amazon.com
$2,470.82 /

+66.26 (+2.76%)

ADBE Adobe
$434.57 /

+18.42 (+4.43%)

NOW ServiceNow
$485.74 /

+18.29 (+3.91%)

CRM Salesforce
$180.88 /

+20.28 (+12.63%)

APA APA Corp.
$48.47 /

+1.38 (+2.93%)

AMZN Amazon.com
$2,470.82 /

+66.26 (+2.76%)

ADBE Adobe
$434.57 /

+18.42 (+4.43%)

Over a month ago
Hot Stocks
ServiceNow introduces new Procurement Service Management solution » 10:20
05/25/22
05/25
10:20
05/25/22
10:20
NOW

ServiceNow

$441.17 /

+22.01 (+5.25%)

ServiceNow earlier today…

ServiceNow earlier today introduced its new Procurement Service Management, or PSM, solution it said will "help transform procurement across the enterprise and speed up delivery times for simpler sourcing tasks through digitization and self-service." "Procurement Service Management from ServiceNow brings unique capabilities to the market by simultaneously streamlining processes for procurement teams and giving regular employees more ways to problem-solve, quickly and easily. Our solution refocuses procurement teams on strategic activities by redirecting simple tasks to self-service options - across the complete procurement lifecycle," said Kirsten Loegering, vice president of product management, ERP Solutions, at ServiceNow. Procurement Service Management is currently available, the company noted.

ShowHide Related Items >><<
NOW ServiceNow
$441.17 /

+22.01 (+5.25%)

NOW ServiceNow
$441.17 /

+22.01 (+5.25%)

05/25/22 Stifel
ServiceNow price target lowered to $550 from $650 at Stifel
05/25/22 Mizuho
ServiceNow price target lowered to $550 from $650 at Mizuho
05/25/22 Piper Sandler
ServiceNow price target lowered to $600 from $650 at Piper Sandler
05/23/22 Jefferies
ServiceNow price target lowered to $550 from $700 at Jefferies
NOW ServiceNow
$441.17 /

+22.01 (+5.25%)

NOW ServiceNow
$441.17 /

+22.01 (+5.25%)

NOW ServiceNow
$441.17 /

+22.01 (+5.25%)

Recommendations
ServiceNow price target lowered to $550 from $650 at Stifel » 07:31
05/25/22
05/25
07:31
05/25/22
07:31
NOW

ServiceNow

$419.12 /

-11.18 (-2.60%)

Stifel analyst Brad…

Stifel analyst Brad Reback lowered the firm's price target on ServiceNow to $550 from $650 and keeps a Buy rating on the shares after having attended ServiceNow's analyst day ahead of its annual user conference. At the event, management updated their long term model, increasing their FY24 and FY26 subscription revenue targets by $1B each, to $11B and $16B, respectively, and noted that they expect to reach these growth levels organically, said Reback. Though he views these targets as "very achievable" and expects that ServiceNow's expanding platform, growing pipeline, and large deal momentum should enable the company to maintain 20%-plus revenue growth and significant margin expansion, he cites "ongoing market turmoil and multiple compression" for a lower target for the shares.

ShowHide Related Items >><<
NOW ServiceNow
$419.12 /

-11.18 (-2.60%)

NOW ServiceNow
$419.12 /

-11.18 (-2.60%)

05/25/22 Mizuho
ServiceNow price target lowered to $550 from $650 at Mizuho
05/25/22 Piper Sandler
ServiceNow price target lowered to $600 from $650 at Piper Sandler
05/23/22 Jefferies
ServiceNow price target lowered to $550 from $700 at Jefferies
05/18/22 Wells Fargo
ServiceNow initiated with an Overweight at Wells Fargo
NOW ServiceNow
$419.12 /

-11.18 (-2.60%)

NOW ServiceNow
$419.12 /

-11.18 (-2.60%)

NOW ServiceNow
$419.12 /

-11.18 (-2.60%)

Recommendations
ServiceNow price target lowered to $550 from $650 at Mizuho » 06:37
05/25/22
05/25
06:37
05/25/22
06:37
NOW

ServiceNow

$419.12 /

-11.18 (-2.60%)

Mizuho analyst Gregg…

Mizuho analyst Gregg Moskowitz lowered the firm's price target on ServiceNow to $550 from $650 and keeps a Buy rating on the shares post the analyst day. The company expressed bullishness on its growth prospects and is now targeting $11B of subscription revenue by 2024, Moskowitz tells investors in a research note. The analyst sees continued high growth over the course of the next few years for ServiceNow but cut the price target given the material recent contraction in comp multiples.

ShowHide Related Items >><<
NOW ServiceNow
$419.12 /

-11.18 (-2.60%)

NOW ServiceNow
$419.12 /

-11.18 (-2.60%)

05/25/22 Piper Sandler
ServiceNow price target lowered to $600 from $650 at Piper Sandler
05/23/22 Jefferies
ServiceNow price target lowered to $550 from $700 at Jefferies
05/18/22 Wells Fargo
ServiceNow initiated with an Overweight at Wells Fargo
05/10/22 Truist
ServiceNow price target lowered to $600 from $700 at Truist
NOW ServiceNow
$419.12 /

-11.18 (-2.60%)

NOW ServiceNow
$419.12 /

-11.18 (-2.60%)

NOW ServiceNow
$419.12 /

-11.18 (-2.60%)

Recommendations
ServiceNow price target lowered to $600 from $650 at Piper Sandler » 06:13
05/25/22
05/25
06:13
05/25/22
06:13
NOW

ServiceNow

$419.12 /

-11.18 (-2.60%)

Piper Sandler analyst Rob…

Piper Sandler analyst Rob Owens lowered the firm's price target on ServiceNow to $600 from $650 and keeps an Overweight rating on the shares. The analyst says the company's analyst day refreshed his perspective on its underlying digital transformation tailwinds. He cut the price target to reflect multiple compression.

ShowHide Related Items >><<
NOW ServiceNow
$419.12 /

-11.18 (-2.60%)

NOW ServiceNow
$419.12 /

-11.18 (-2.60%)

05/23/22 Jefferies
ServiceNow price target lowered to $550 from $700 at Jefferies
05/18/22 Wells Fargo
ServiceNow initiated with an Overweight at Wells Fargo
05/10/22 Truist
ServiceNow price target lowered to $600 from $700 at Truist
04/28/22 BMO Capital
ServiceNow price target raised to $595 from $570 at BMO Capital
NOW ServiceNow
$419.12 /

-11.18 (-2.60%)

NOW ServiceNow
$419.12 /

-11.18 (-2.60%)

NOW ServiceNow
$419.12 /

-11.18 (-2.60%)

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