Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
With Q1 earnings just around the corner, William Blair analyst Justin Furby just updated clients on the firm’s take on three major names in the software-as-a-service (SaaS) space. According to Furby, Workday Inc (NYSE:WDAY) and The Ultimate Software Group, Inc. (NASDAQ:ULTI) are both buys ahead of earnings, while the firm is more cautious on SAP SE (ADR) (NYSE:SAP).
Furby says Q1 tends to be seasonally weak for Ultimate Software, but William Blair expects the stock’s positive momentum to continue.
“Our fieldwork points to a healthy demand backdrop with bullish pipelines, and our sense is that first-quarter bookings were roughly in line with management’s expectations,” Furby explains.
Related Link: Microsoft Turning Azure Cloud Service Skeptics Into Believers
In addition, William Blair is bullish on Workday after speaking with four HR systems integration specialists who say U.S. and European demand were both high in Q1.
“A few partners pointed to stabilization after the U.S. election as helping drive activity levels and pipeline… and one discussed that the security concerns about cloud increasingly are moving to the wayside,” Furby says.
Despite a partner indicating strong Q1 HR activity levels for SAP, William Blair remains on the sidelines for now.
“This is just one partner (albeit a big one) for SAP, and it is certainly not enough to form a broader view of SAP’s first quarter nor to change our overall view on the company,” Furby notes.
William Blair maintains Outperform ratings on Workday and United Software and a Market Perform rating on SAP.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!