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Fly News Breaks for January 16, 2020
CRM
Jan 16, 2020 | 07:45 EDT
Wells Fargo analyst Philip Winslow raised his price target for Salesforce to $215 from $185, while keeping an Overweight rating on the shares. The analyst anticipates continued healthy growth in software spending in 2020 and expects software stocks as a whole to relatively outperform the market. Furthermore, Winslow believes the next decade will bring "massive advances" toward a more fully connected and immersive world - one in which artificial intelligence and machine learning, natural language processing, augmented reality, 5G, edge/fog, and the Internet of Things mature and become both commonplace and transformative. He expects software to be a key enabler of this increasingly connected decade.
News For CRM From the Last 2 Days
CRM
Feb 14, 2020 | 14:03 EST
Chase Coleman's Tiger Global disclosed in an SEC filing its holdings as of December 31, 2019. The fund's five new buys during the fourth quarter included, by size of position, PayPal (PYPL), Alphabet Class A (GOOGL), Cardlytics (CDLX), XP Inc. Class A (XP), and Bill.com (BILL). Tiger exited 16 positions during the quarter, including by size of previous position Fiat Chrysler (FCAU), MercadoLibre (MELI), Wayfair (W), Switch (SWCH), and Beyond Meat (BYND). The fund increased its stake in 15 holdings, including by size of previous position Uber (UBER), Elastic (ESTC), Pinduoduo (PDD), MongoDB (MDB), and RingCentral (RNG). Tiger reduced its stake in 17 holdings, including by size of previous position Alibaba (BABA), Microsoft (MSFT), Facebook Class A (FB), Salesforce (CRM), and Adobe (ADBE). The fund's top holdings as of December 31, in order of size, were JD.com Class A (JD), Apollo Global (APO), Microsoft, Facebook, and TransDigm (TDG).