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2020 was a turbulent year for Salesforce, with significant executive upheaval and its largest acquisition ever when it bought Slack for $27.7 billion.
Insider asked analysts and partners what s ahead for the company in 2021 and they said that Salesforce will have to focus on integrating Slack to prove that the acquisition was worth the cost.
They re expecting the company to double down on its industry specific clouds, especially for the public sector, as competition continues to mount from Microsoft, Oracle, and even smaller players.
2020 was a turbulent year for Salesforce.
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At a virtual meeting with analysts, Zscaler gave investors reason to feel renewed enthusiasm for the stock. Dreamstime
Zscaler shares traded higher Tuesday just one day after the security software company hosted an apparently well-received virtual meeting with analysts.
The company did not update its financial outlook at the meeting but it gave investors reason to feel renewed enthusiasm for the stock. At least four analysts raised their target prices for Zscaler shares (ticker: ZS) following the meeting.
Credit Suisse analyst Brad Zelnick repeated his Outperform rating, upping his price target to $215 from $175. Zelnick wrote that the meeting gave him “even more conviction around both the size of [the company’s] opportunity and ability to execute against it.” He said the company is well positioned in an area called “zero trust” security architectures, an approach that requires all users even those inside the n
Splashy IPOs have been a hallmark of 2020. You can certainly place Palantir (PLTR) on the list of companies who have made impressive market entries. While the big data specialist got off to a relatively slow start after going public at the end of September, it has picked up some serous momentum during the year’s final months. As a result, shares are up by a massive 170% since the public listing.Which is precisely why Credit Suisse analyst Brad Zelnick tells investors to stay away. The analyst rates PLTR an Underperform (i.e. Sell) along with a $17 price target. This figure implies a steep 34% descent from current levels. (To watch Zelnick’s track record, click here)That’s not to say Zelnick thinks Palantir is a bad company.“To be clear,” the 5-star analyst said, “We continue to believe Palantir offers a unique data analytics platform, helping organizations solve some of the most complex challenges in the world – including those related t
More Alarm Bells Are Being Raised About Sky-High Tech Valuations
The number of downgrades and short calls being made on tech stocks that have soared to the stratosphere has picked up this month.
Author:
Dec 23, 2020 2:27 PM EST
As certain tech stocks soar to jaw-dropping multiples, the number of analysts downgrading companies they otherwise like, due to their valuations, is mounting.
PLTR) - Get Report by Credit Suisse. In cutting Palantir’s shares to Underperform from Neutral, analyst Brad Zelnick said the data mining/analytics software firm’s valuation had become “disconnected from fundamentals” and was 50% above what Credit Suisse saw as fair in a “blue-sky scenario.”
Palantir Technologies Inc (PLTR stock) price drops as a major institution issues a bold downgradeNEWS |
12/21/2020 12:26:33 PM GMT | By Stocks Reporter
NYSE:PLTR loses 4.63% to close the week as the broader markets pull back from their all-time highs.
Credit Suisse issues a bearish downgrade for Palantir.
It is not a completely negative report, but the new price target sees a near 40% downside from current levels.
NYSE:PLTR has been one of many successful IPOs that have hit the public markets this year, although the company has yet to see sky-high price levels that other debuts like Snowflake (NYSE:SNOW) or AirBnb (NASDAQ:ABNB) have seen.