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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
Feb 19, 2020 | 08:01 EST
Wedbush analyst Steve Koenig raised his price target for Splunk to $195 from $180 as he believes its market position and momentum look like a "solid" underpinning for a "strong" Q4 and further share gains in fiscal year 2021. His second half of the year conversations with large Splunk customers point to deepening reliance on the company as their key data platform for security and IT operations. Going forward, growing adoption of Splunk Cloud and Splunk's pole position in the converging "observability" market should further augment its leadership in machine data, he adds, noting the Splunk is a Wedbush Best Idea. The analyst has an Outperform rating on the shares.
Feb 18, 2020 | 07:15 EST
Cowen analyst J. Derrick Wood said his survey of about 50 Salesforce partners pointed to a strong fourth quarter, adding that his contacts said their pipeline outlooks were also bullish as partners on avg expect a big up-tick in growth in calendar 2020 compared to their 2019 expectations. The analyst, who sees meaningful upside potential, reiterated an Outperform rating on Salesforce shares ahead of the company's Q4 report and raised his price target on the stock to $210 from $195.