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5:21 a.m. Jan. 22, 2021 - By Emily Bary
Microsoft stock is a buy while Oracle is a sell, says Goldman SachsGoldman Sachs analyst Kash Rangan initiated coverage on a basket of software names late Thursday, assigning buy ratings to shares of Microsoft Corp. , Workday Inc. , Adobe Systems Inc. , ServiceNow Inc. , Salesforce.com Inc. , and Splunk Inc. . He's less upbeat about the prospects for Autodesk Inc. and Oracle Corp. as he assigned sell ratings to both names. Rangan's buy-rated stocks "lean more toward reasonably valued high quality growth franchises," he wrote. Companies like Microsoft, Salesforce, Workday, and Splunk look poised to benefit from a potential shift in software spending priorities toward the second half of the year, he argued. While corporate IT departments have been spending on "defensive" categories like video conferencing and remote applications, they could soon shift to more "offensive" areas like the public cloud, human-capital management, and financial tools, Rangan wrote. As for the sell-rated names, Rangan is worried about "secular pressure" for Oracle's middleware business and the health of Autodesk's customer base, particularly in terms of commercial construction companies after the pandemic ends.
6:57 a.m. Dec. 15, 2020 - By Emily Bary
Zynga stock gains after Wells Fargo upgradeShares of Zynga Inc. are up 2.5% in Tuesday morning trading after Wells Fargo analyst Brian Fitzgerald upgraded the stock to overweight from equal weight. " We think shares of Zynga present a favorable risk/reward in light of a new, more detailed strategic vision of organic growth, which CEO Gibeau recently articulated," he wrote in a note to clients. Fitzgerald is upbeat about Zynga's vertically integrated advertising network, its broader portfolio of franchises that will enable the company to allocate advertising spending toward areas with the greatest returns on investment, and an expansion of the business beyond the mobile platform. "We think ZNGA's investment in supporting new launches (i.e. 'Harry Potter, Puzzles & Spells') is underappreciated by the market, and data on app usage have inflected back upwards in Nov and Dec after a lull in July through September," he wrote. Zynga's stock has declined 9.7% since Nov. 4, when Zynga last reported quarterly earnings. The S&P 500 has added 5.9% in that time.
10:36 a.m. June 2, 2020 - By Wallace Witkowski
Zynga acquisition of Peak Games meets with analyst approval Shares retreat from eight-year high following deal’s announcementZynga Inc. shares retreat from their recent eight-year highs Tuesday as analysts digest the social gaming company’s most recent acquisition and see it as a long-term boon.
4:29 a.m. May 26, 2020 - By Emily Bary
Take-Two stock gains after BMO upgradeShares of Take-Two Interactive Software Inc. are up 1.2% in premarket trading Tuesday after BMO Capital Markets analyst Gerrick Johnson upgraded the stock to outperform from market perform, writing that the video-game maker could continue to benefit from stay-at-home trends as the industry has proven defensive in times of economic unease. "Take-Two's performance in 4Q illustrates the strength of its core franchises during this time of uncertainty and we are encouraged by the company's strategy to seize opportunities in new platforms, distribution models, and game genres, which should provide more stable, growing earnings and cash flow over time," Johnson wrote. He praised the company for embracing new revenue streams and being "one of the first large publishers" to offer its games on the Nintendo Switch, Alphabet Inc.'s Google Stadia, and Epic Games Store. "It is expanding its sports offering, providing an opportunity for more regular annualized releases," Johnson wrote. "And we see significant opportunities in mobile, where the company is underpenetrated." He raised his price target to $170 from $120 in conjunction with the upgrade. Take-Two shares have added 28% over the past three months as the S&P 500 has shed 5.2%.
8:43 a.m. April 30, 2020 - By Jaimy Lee
The pandemic has shifted focus to remdesivir, but HIV drugs will return to center stage for Gilead Gilead in the age of COVID-19: Investors will pay close attention to what the company says about what’s next for its experimental drug remdesivir, as well as its HIV portfolio and oncology ambitionsIf this pandemic is going to have a savior, investors are betting that Gilead Sciences Inc. is their personal Jesus.
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