7 Market-Moving Tech Ratings Changes That Just Happened At Brean Capital

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The seven rating changes by Brean Capital analysts that have the potential to move technology stocks and the market are: 1.
LinkedIn CorporationLNKD
: The analysts initiated coverage of this professional networking major with a Sell rating and a price target of $208. "Although we believe that LinkedIn exists in a high-quality and largely undisputed social sphere, our "Sell" rating is based primarily on our view that expectations for Sales Navigator are too high, as is valuation, while core site "browsability" is lacking." 2.
Paycom Software, IncPAYC
: The analysts initiated coverage of this SaaS provider of Payroll Services and Human Capital Management (HCM) Solutions with a Buy rating and a price target of $45. "We believe HCM software offers substantial upsell opportunities, and is increasingly robust. However, the core Payroll product is where Paycom is truly differentiating itself —and disrupting a sizable, splintered, and sticky market." 3.
Workday, IncWDAY
: Brean Capital initiated coverage with a Hold rating and a fair value of $86, expressing concern regarding the company's ability to emerge as a winner. "We expect Workday to be a clear winner in the SaaS marketplace—the questions are: when, by how much, and at what valuation? The answer depends on its financial management tools becoming successful." 4.
Twitter, Inc
TWTR
: The analysts assumed coverage of this microblogging social media network with a Buy rating and a $61 price target. "We believe that Twitter is in the first inning of a long game-one that we do not anticipate will be linear, but is likely to yield positive results. We believe new products for mobile app development, online video, syndicated ads, and more, are just ramping, while the company improves the user experience and starts to monetize the vast logged-off user base, leading to potential upside to come." 5.
NetSuite IncN
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: Coverage of this SaaS provider of ERP solutions was initiated with a Hold rating and a fair value of $105. "We view 2015 as a transition year for the company as it invests for growth at home and overseas while facing heavy FX headwinds. We are positive on the company in the long term, but await easing FX trends and more reasonable valuation relative to growth for a more attractive entry point." 6.
Facebook Inc FB
: The analysts initiated coverage with a Buy rating and a $96 price target. "Our Buy thesis is derived from our view that Facebook still has ample runway for growth through pricing leverage, continued user expansion, and the successful monetization of acquired platforms Instagram and WhatsApp." 7.
ServiceNow Inc NOW
: Coverage of this SaaS provider of enterprise service automation tools was initiated with a Buy and a price target of $97. "Our Buy rating is based on our view of potential upside from newly launched mid-market CreateNow Express, IT Operations Management, vertical application vendors being added to the CreateNow platform this spring, and Service Automation tools beyond IT."
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Posted In: Analyst ColorInitiationAnalyst RatingsBrean Capital
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