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Fly News Breaks for January 10, 2020
Jan 10, 2020 | 07:33 EDT
Barclays analyst Raimo Lenschow upgraded Cornerstone OnDemand (CSOD) to Overweight from Underweight with a price target of $71, up from $55. The analyst expects Cornerstone to show "meaningfully higher" revenue growth and ongoing operating leverage in 2020 while at "very reasonable" valuation levels. As such, the stock should be a relative outperformer in the U.S. Software space this year, Lenschow tells investors in a research note. The analyst suggests investors focus on Software names that have a favorable growth/valuation setup. Salesforce (CRM) remains his top pick. He remains bullish on Microsoft (MSFT), but notes the company faces tougher comps in the second half of the year. Splunk (SPLK) and MongoDB (MDB) remain growth stories that Lenschow continues to like, and he calls Slack (WORK) an "out-of-favor name that should see better times this year."
News For CSOD;CRM;MSFT;SPLK;MDB;WORK From the Last 2 Days
Jan 14, 2021 | 11:07 EST
IBM plans to acquire Taos Mountain, an IT firm that helps companies shift software and data to the cloud, reported The Wall Street Journal's Jared Council, citing confirmation from John Granger, senior vice president of cloud application innovation and chief operating officer of IBM Global Business Services. Terms of the transaction, which is expected to close this quarter, were not disclosed. IBM already has similar consulting services, but acquired Taos partly because of the strength of Taos's partnerships with major public cloud service providers Amazon Web Services (AMZN), Google Cloud Platform (GOOGL), and Microsoft's (MSFT) Azure, according to the report. Reference Link