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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
Palantir went public in September in a direct listing. Michael Nagle/Bloomberg
Palantir Technologies has had an impressive early run in the public markets, direct-listing on the New York Stock Exchange in late September at $10 a share and rallying as high as $33.50 before recently settling into the mid-to-high $20s. But at least one analyst thinks the stock is heading for a far tougher year in 2021.
Citigroup’s Tyler Radke on Wednesday cut his rating on Palantir (ticker: PLTR) to Sell from Neutral, while lifting his price target to $15 from $10. He thinks that after the huge rally since its direct listing, the stock is vulnerable heading into 2021 given a coming lockup expiration and likely growth deceleration.
Jan. 12, 2021 10:59 pm ET
A breach at email security provider Mimecast Inc. underscores that Russia-linked hackers appear to have targeted victims along multiple avenues of attack in what is shaping up to be one of the most successful cyber campaigns of U.S. government and corporate systems.
The attack potentially adds thousands of victims to the yearslong intelligence operation and likely aimed at gaining access to email systems, security experts say. Mimecast, in a Tuesday blog post, said the hackers were able to obtain a digital certificate used by the company to access its customersâ Microsoft 365 office productivity services.
The Mimecast hackers used tools and techniques that link them to the hackers who broke into Austin, Texas-based SolarWinds Corp., according to people familiar with the investigation. The link to the SolarWinds hackers was reported earlier by Reuters.
Intel had snatched away
VMware CEO Pat Gelsinger to replace Bob Swan and fix the troubled chip giant is weighing heavily on shares of both VMware and
Dell Technologies, which has an 80.6% stake in the company.
Last year, Dell (ticker: DELL) confirmed press reports that it was considering spinning off its VMware stake to current Dell holders. In such a transaction, VMware (VMW) would likely pay a large cash dividend back to Dell that the PC maker would then use to reduce its substantial debt load.
Now, with VMware losing its iconic leader, there are concerns on Wall Street about VMware’s valuation. Keep in mind that the value of Dell’s stake in VMware is almost equal to Dell’s entire market capitalization.
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Even banks that aren’t part of the merger bonanza can expect to see positive effects from a wave of consolidation. Dreamstime
After a relatively dormant 2020, Wall Street expects a surge of bank mergers this year.
The economic impact of the coronavirus pandemic dampened much of the expected merger activity for 2020 even as it served to intensify the rationale for why banks should combine. Last year, amid the worry over low interest rates and potentially ballooning loan losses, banks were busy navigating through their own issues and less interested in acquiring banks that could potentially bring their own set of problems. But with many of the worst-case scenarios for the economy thankfully avoided, banks are coming out of the crisis feeling a renewed pressure to become more efficient.