The analysts set a $20 price target on the cyber-security company’s shares.
Analyst Sterling Auty cited FireEye’s “market leading incident response service with an expanding product portfolio" as factors behind the rating upgrade.Additionally, Auty emphasized that FireEye’s strong expense control as a contributor to operating leverage should be a tailwind for the company whose stock is currently trading under 4x EV/Sales.
FireEye shares climbed +3.4% in pre-market trading Monday.
Salesforce beat the fiscal fourth quarter earnings estimates, but fell shy of expectations on guidance for the next quarter.
At 70 cents per share for the three months ending January, the cloud computing/software company’s adjusted earnings overshot analysts’ expectation of 55 cents per share (based on Refinitiv data).Subscription and support revenues also climbed +26% year-over-year to $3.38 billion in the quarter.
Despite the better-than-expected results for the latest quarter, what probably led to Salesforce shares slumping during Monday’s extended trading was its forecast of 60 cents to 61 cents earnings-per-share on a revenue range of $3.67 billion to $3.68 for the fiscal first quarter – figures that are lower than the 63 cents earnings per share on $3.70 billion revenue that analysts had anticipated ((based on Refinitiv data).
Nevertheless, the company’s guidance for the full fiscal year 2020 is in line with analysts’ expectations.
For the three months ending January 31, Splunk reported adjusted earnings of 93 cents per share, beating analysts’ estimates of 76 cents per share.It also revised upwards its revenue projection for the fiscal year ending January 2020 to $2.2 billion compared to a previous guidance of $2.15 billion.
Splunk’s stock saw price target raises from several analysts.
Its gross merchandise volume (GMV) increased 54% to $14 billion. Overall, the company’s stock has appreciated over 800% in the last three years.
But do these figures tell the whole story.
Shopify is not just about pushing products; it’s about empowering merchants.The company helps merchants across the size spectrum to set up virtual shops quickly and affordably with the help of select tools that make it easier for clients to process payments, ship packages, secure financing, and reduce fraudulent transactions.
Commvault Systems Inc. (CVLT - Get Report) slipped 1.3% to $66.89 Monday after one of its shareholders reduced its position in the data protection and information management company.
Elliot Management said in a Securities and Exchange Commission filing that it had lowered its stake in the Tinton Falls, New Jersey-based company to about 4%.READ MORE...
I don’t know whether to classify 8x8 Inc. (Nasdaq: EGHT) as a software company or a communication services company.Regardless of the classification, the stock is hitting a key resistance point and a bearish signal was generated.
We see on the daily chart that the stock fell below the $20.50 level back in October.
Avaya Holdings Corp. reported its first quarter revenue of $738 million, missing previous guidance of $750 million to $775 million.
Nevertheless, the cloud solutions company’s total contract value surged +8% year- over -year to $2.4 billion.CEO Jim Chirico indicated that while sales were affected by “a few discrete items versus our outlook”, he also emphasized that the company’s clients/customers continue to back its innovations.
Avaya projects its second quarter revenue to range from $730 million to $760 million.
RingCentral (RNG - Free Report) came out with quarterly earnings of $0.23 per share, beating the Zacks Consensus Estimate of $0.18 per share.These figures are adjusted for non-recurring items.
READ MORE...
Symantec Corp. reported adjusted earnings of 44 cents a share in the third quarter, beating analysts' expectation of 39 cents a share.At $1.21 billion, revenues too outpaced Wall Street estimates of $1.18 billion.
For the current quarter ending in March, the cybersecurity software company projects earnings to be in the range of 37 cents to 41 cents a share.
On Thursday, the fintech company, which provides payment and invoice services, reported solid fiscal second-quarter earnings, but apparently fell shy of being remarkable.
Adjusted earnings of 35 cents per share matched Zacks Investment Research estimate.It was higher compared to the year-ago period’s 31 cents a share.
With a 10% year-over-year increase in the quarter ended Dec. 31, Bottomline’s revenue touched $104.8 million.
Cyber-security firm FireEye (Nasdaq: FEYE) is set to report earnings on February 6, and the stock will face some resistance in the days leading up to the earnings report.
Analysts expect the company to report earnings of $0.05 per share, and that would make the fourth quarter the second consecutive profitable quarter for the firm.The return on equity is -40%, the profit margin is -36%, and the operating margin is at -27%.
Turning our attention to the daily chart for FireEye we see that the stock hit its 50-day moving average on Friday and has moved lower in each of the last two days.
Business software company SAP said on Tuesday it would undertake a company-wide restructuring as it presses ahead with its business transformation, stressing its ambition to more than triple its cloud business by 2023.Read More...
Software firm Autodesk (Nasdaq: ADSK) saw a pattern form in the last few days that could be a bad sign for the stock.You could also draw a trendline that connects the three closing highs, ignoring the intraday high on December 3.
We also see that the overbought/oversold indicators hit overbought levels with the recent rally and they have now turned lower with the stochastic readings making a bearish crossover.
Tickeron’s AI Trend Predictor made a bearish prediction on Autodesk two days ago and the previous predictions on ADSK have been accurate 74% of the time since 2005.
Atlassian Corporation PLC, a team collaboration and productivity software provider, published its Q2 results last week and surpassed all expectations. The company is making good use of the recent trend of the cloud adoption responsible for maintaining quality, reliability and security of cloud offerings with developers.Analysts also believe that the $20 million IT operations and service management sector, currently dominated by ServiceNow Inc. (NOW), will soon be overcome by Atlassian.
TEAM’s Q2 earnings report witnessed an accelerated billing with an 49% billing growth, ahead of estimates by 10%.
Atlassian shares soared on Friday, following news of its beating revenue and earnings expectations.
The enterprise software company had earnings of 25 cents per share in its second quarter, edging past analysts' expectations of 21 cents per share.Sales were $299 million, greater than estimates of $288.3 million.
Atlassian’s subscription revenues increased +56%in the second quarter on a year-over-year basis, which was the fastest among its different revenue streams.
Automatic Data Processing (Nasdaq: ADP) is a human resource outsourcing firm, offering clients payroll, benefits administration, compliance and other services.There could be some good news, however, as the stock hit two levels this week that could act as support and help propel it higher.
In August, the stock dipped down to the $128 level before rallying up above the $150 level in early October.
SecureWorks Corp. raked in $133.1 million in revenues in its fiscal third quarter, beating analysts’ estimate of around $130.6 million. For the current quarter ending January, the information security services company expects to generate revenue in the range of $132 million to $133 million.As for full-year results, it expects revenue to come in around $520 million to $521 million.
However, SecureWorks reported a loss of -$3.7 million in its fiscal third quarter - that’s a loss of -5 cents on a per share basis. For the full year, SecureWorks projects a loss range of -1 cent per share to -45 cents per share.
Salesforce posted better-than-expected earnings for the third quarter, and solid growth in revenues.
At 61 cents per share, excluding certain items, the cloud-based software company beat analysts’ estimate of 50 cents per share (according to Refinitiv).Revenue soared +26% from the year-ago period to touch $3.39 billion – higher than analyst’s expected $3.37 billion (according to Refinitiv).
The company cites expansion in its Sales Cloud and Service Cloud businesses as significant contributors to its growth.
Paychex Inc. announced Monday that it plans to acquire privately held firm Oasis Outsourcing Acquisition Corp. for $1.2 billion.
Payroll services company Paychex hopes that the acquisition of Oasis will bolster its own professional employer organization (PEO) strategy and potentially augment its client base.Paychex expects the transaction to potentially create "a number of revenue and cost synergies”.
Paychex might finance the acquisition through a combination of cash and existing credit facilities or new debt.
Chesapeake Energy Corporation's decision to acquire WildHorse Resource Development for nearly $4 billion in cash and stock came as a surprise to many investors, especially given the recent oil rout.
However, the CEO of Chesapeake Energy, Doug Lawler, labeled this deal as one of the most exciting events in the recent history of the company, in terms of it could potentially transform the company.
So how would this deal help Chesapeake Energy?
First, the acquisition of WildHorse is expected to strengthen and accelerate the delivery of Chesapeake's near-term strategic priorities of margin improvement, sustainable free cash flow generation, and a net debt-to-EBITDA ratio of 2.0.The increased scale of its operations, coupled with its ability to drill longer through its capital-efficient drilling mechanism, will help the company in yielding stronger drilling returns as well as eliminate additional oilfield service and supply chain costs.