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Jefferies Initiates Coverage On Software Companies

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Jefferies initiated coverage on software companies Thursday and saw the industry as one of the “most promising environments for innovation” that the analysts have seen in their years covering the space.

Analysts led by John DiFucci believed “the Software sector is riding a wave of relevance on the back of what most investors appear to be much less interested in: the advances of foundational computing technologies over the last decade, including much faster and cheaper memory, multi-core processors that enable the use of that memory, much faster, cheaper and broader bandwidth.”

The firm initiated coverage on the following companies with price targets and grouped according to rating:

Adobe (NASDAQ: ADBE) Buy, $83 price target
Benefitfocus (NASDAQ: BNFT) Buy, $29 price target
CA Technologies (NASDAQ: CA) Buy, $40 price target
Check Point Software (NASDAQ: CHKP) Buy, $88 price target
Intuit (NASDAQ: INTU) Buy, $110 price target
Paycom (NASDAQ: PAYC) Buy, $32 price target
Qlik Technologies (NASDAQ: QLIK) Buy, $40 price target
RingCentral (NYSE: RNG) Buy, $20 price target
SolarWinds (NYSE: SWI) Buy, $60 price target
Splunk (NASDAQ: SPLK) Buy, $89 price target
SS&C Technologies (NASDAQ: SSNC) Buy, $58 price target
Varonis (NASDAQ: VRNS) Buy, $30 price target
VMware (NYSE: VMW) Buy, $130 price target

Microsoft (NASDAQ: MSFT) Underperform, $40 price target (NYSE: CRM) Underperform, $48 price target
Symantec (NASDAQ: SYMC) Underperform, $20 price target

Citrix (NASDAQ: CTXS) Hold, $64 price target
CommVault (NASDAQ: CVLT) Hold, $50 price target
Oracle (NYSE: ORCL) Hold, $41price target
Red Hat (NYSE: RHT) Hold, $58 price target
SAP (FRA: SAP) Hold, € 57 price target
Tableau (NYSE: DATA) Hold, $90 price target
Workday (NYSE: WDAY) Hold, $100 price target

Latest Ratings for ADBE

Dec 2017Morgan StanleyMaintainsEqual-Weight
Dec 2017JP MorganDowngradesOverweightNeutral
Nov 2017KeyBancMaintainsOverweightOverweight

View More Analyst Ratings for ADBE
View the Latest Analyst Ratings

Posted-In: Jefferies John DiFucciPrice Target Initiation Analyst Ratings


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