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CloudRevolutionUpdate
Amazon May Be Looking to Acquire Slack
https://www.webpronews.com/amazon-may-be-looking-to-acquire-slack/
Slack Technologies(WORK:NSD) Goldman downgrades on churn rate to Microsoft
STA Research
by: STA Research
June 19th, 2020
https://www.stocktargetadvisor.com/blog/slack-technologiesworknsd-goldman-downgrades-on-churn-rate-to-microsoft/
CloudRevolutionUpdate
Amazon May Be Looking to Acquire Slack
https://www.webpronews.com/amazon-may-be-looking-to-acquire-slack/
Yes I happened to catch it thanks. The GS call today was pure ignorance. Heather Bellini told investors to sell ZM- Zoom, look how that turned out.
Her TipRanks profile:
https://www.tipranks.com/analysts/heather-bellini
With zero gap’s that needs to be filled too. Upward and onward.
Parsley Energy: A Great Oil Stock For Your Watchlist
https://seekingalpha.com/article/4353144-parsley-energy-great-oil-stock-for-your-watchlist
Re-entered and adding again having more GTC open buy orders if the market wants to play.
Myovant Sciences stock price target raised to $45 from $35 at Evercore ISI
Parsley Energy Stock On Rise Amid Nascent Recovery In Oil And Gas Exploration, Drilling
https://www.investors.com/news/stocks-flashing-renewed-technical-strength-parsley-energy/
Oil and gas exploration company Parsley Energy (PE) describes itself as "focused exclusively on the most prolific portions of the Permian Basin, one of the most resource-rich oil basins in the world."
Prospects for energy companies have improved in the wake of the oil and gas market crash earlier this year. Prices for a barrel of oil have doubled from the teens to the high $30 a barrel range recently.
Parsley Energy's prospects have improved along with rising prices. Parsley saw its stock Relative Strength (RS) Rating jump to 86 on Wednesday, an upgrade from 77 the day before. That improved rating means its stock has performed in the top 14% of all stocks in the past 52 weeks.
The Austin, Texas-based company sports an even higher EPS Rating of 92, reflecting improving profit growth.
Taking a look at top and bottom line numbers, Parsley Energy has posted rising EPS growth over the last two quarters, rising by 32% last quarter vs. the same quarter a year earlier. Revenue growth has also moved higher over the same time frame.
The company earns the No. 2 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. Matador Resources (MTDR) is the No. 1-ranked stock in the group. Parsley shares fell 5.8% Wednesday afternoon, to 11, amid a broad retreat by oil company stocks.
Even after the drop, Parsley shares are still up about 200% from a 3.92 low on March 18. Matador was down 3.2%
While the stock is not near an ideal buy point right now, see if it is able to form and break out of a proper base.
Six upgrades in May/June:
Parsley Energy upgraded to overweight from equal weight at Morgan Stanley
Parsley Energy Initiated at Buy by RF Lafferty
Pars Energy Is Maintained at Overweight by KeyBanc
Parsley Energy Is Maintained at Outperform by Raymond James
Parsley Energy Is Maintained at Outperform by Imperial Capital
Parsley Energy Is Maintained at Hold by CFRA
The CEO of Slack on Adapting in Response to a Global Crisis
https://hbr.org/2020/07/the-ceo-of-slack-on-adapting-in-response-to-a-global-crisis
New price upgrade today with a PT $15.00
https://stockhoot.com/ExtSymbol.aspx?from=AnalystRatingTweet&symbol=PE&t=856&Social=StockTwits
Need more upgrades so I can keep adding at lower price levels:
CFRA RAISES OPINION ON SHARES OF PFIZER INC. TO BUY FROM HOLD
10:39 am ET June 15, 2020 (CFRA)
We are upgrading our view on shares of Pfizer, Inc. after it was selected last week by the U.S. administration as one of the five companies most likely to come up with a Covid-19 vaccine along with Johnson & Johnson (JNJ), Merck & Co., Inc. (MRK), Moderna (MRNA), and AstraZeneca PLC (AZN). These five companies will be the beneficiaries of additional funds to support the vaccine development and manufacturing efforts. We maintain our target at $41, 13.5x our '21 EPS estimate, slightly below PFE's 5-year historical forward P/E average of 13.7x. We keep our '20 EPS estimate at $2.85 and raise our '21 EPS estimate by $0.07 to $3.03. Following the recent declines for PFE's share price due to a broad market sell-off resulting from investor concerns of a slow recovery and a second wave of Covid-19 infections, we think current levels offer a good entry point with an upside potential above 20% vs. our target price.
A few days old but you still get that a ha meaning:
Will Amazon Buy Slack?
The war for video meetings heats up, and Slack lines up with Amazon Chime.
Institutional Owners 600
Institutional Shares 288,682,751
https://medium.com/gigaom/will-amazon-buy-slack-397b082f05ca
Press Release
BioCryst Announces Berotralstat Expanded Access Program for Patients with Hereditary Angioedema in United States
https://ir.biocryst.com/news-releases/news-release-details/biocryst-announces-berotralstat-expanded-access-program-patients
Post-COVID Mega Trends: CEO’s of ZM, TDOC, WORK, NEXCF Discuss Future of Virtual Meetings, Healthcare, and Remote Work
https://newsfilter.io/a/fcb130d1eb1e2080e52c839a0d6ab5ae
Got back in:
Ping Identity: A Market Leader In Its Own Way
https://seekingalpha.com/article/4352724-ping-identity-market-leader-in-own-way
The True Story Of Slack
https://seekingalpha.com/article/4352746-true-story-of-slack
JohnCM
Yes I saw that just buy chance. CEO speaking wise is rough around the edges but believe stock will double from today`s close. Been adding as I expected this selloff. Appreciate the heads up.
BioCryst's berotralstat long term study suggests reductions in attack rate
https://seekingalpha.com/news/3581231-biocrysts-berotralstat-long-term-study-suggests-reductions-in-attack-rate
Slack Technologies: When Great Isn't Good Enough
https://seekingalpha.com/article/4352342-slack-technologies-when-great-isnt-good-enough
The inside story behind the pandemic, the CEO and a promising, unproven treatment.
https://www.forbes.com/sites/nathanvardi/2020/05/20/the-man-betting-1-billion-that-pfizer-can-deliver-a-vaccine-by-this-fall/#c434e8f382e9
Sure looking like that, lets see how the market absorbs all the new stock.
6 Slack Analysts On Q1 Results, Billing Numbers, Microsoft Competition: 'An Unexpected Dichotomy'
12:36 pm ET June 5, 2020 (Benzinga) Print
If there were any beneficiaries of the coronavirus pandemic, Slack Technologies Inc (NYSE: WORK) seemed to be one. The company’s first-quarter results Thursday demonstrated 50% top-line growth, reflecting rapid adoption by companies shifting to remote operations.
Slack exceeded Street expectations with $206 million in billings, $202 million in revenue, $179 million in gross profit and a non-GAAP loss per share of 2 cents.
“We’d say the company mostly delivered,” Wells Fargo analyst Michael Turrin wrote, although noting that billings growth (38%) was below investor expectations and that the full-year guidance implies sharp second-half revenue deceleration.
What Slack Analysts Liked
Revenue came in 7% above consensus estimates, and Slack’s 90,000 net new customers for the period exceeded gains from the entire previous year.
“Slack added more free orgs in F1Q ‘21 vs. entire FY ‘20, hinting at a robust upsell/conversion pipeline,” MKM analyst Rohit Kulkarni wrote.
“Long-term obligations, a proxy for Slack’s FY ’22 and beyond growth, accelerated materially, implying sticky contracts with large enterprise customers.”
Mizuho analysts were nonetheless underwhelmed by Slack’s 12,000 net paid additions, having forecasted 14,000.
“In our view they are much less impressive than they appear after factoring in a very strong start to the quarter (the co. had previously disclosed 9,000 net adds through Mar. 26),” Gregg Moskowitz wrote.
Where Slack Analysts Wanted More
Billings seemed to be a point of common focus. The metric generally left analysts wanting.
“We don’t think the quarterly billings number is telling the entire story here, as FQ1 billings saw $17 million of Covid/renewal-related impacts, while RPO [remaining performance obligations] was up an impressive 97% year over year (16% quarter over quarter),” wrote Wells Fargo's Turrin.
Morgan Stanley attributed Slack’s miss on investor billings expectations to a modest net dollar retention rate, which stabilized after eight consecutive quarters of sequential decline.
“Q1 results showed an unexpected dichotomy – while the Covid-19 crisis pushed a lot of new customers to the Slack platform (about 90,000 in total, including Free and Paid, more than Slack accrued in all of FY20), there was very little change in the propensity of existing customers to use Slack more broadly within their organizations as the net dollar retention rate was just flat on a QoQ basis at 132%,” wrote analyst Keith Weiss.
Why The Market Reacted Poorly To Slack's Q1
Kulkarni attributed Slack’s after-hours sell-off to previously overinflated buy-side expectations and the withdrawal of FY21 billings guidance. The guidance that management did provide inspired caution, he said.
Morgan Stanley's Weiss said the revenue guidance is conservative, "reflecting a challenging environment in 2H21 embedding weaker renewal rates and lower sales productivity."
What’s On The Horizon For Slack
Cantor Fitzgerald expects Slack’s strong pipeline and diversified customer base to work in its favor.
“We believe the company and its platform have a number of unique, positive attributes, including the ability to drive customer productivity and efficiency, applicability across all industries and business sizes, and a growing ecosystem to facilitate seamless integration,” analyst Drew Kootman wrote.
“We expect these attributes to lead to increased market penetration and margin expansion and believe these characteristics will allow the company to expand its multiple.”
Other analysts flagged threats in the competitive environment. Microsoft Corporation (NASDAQ: MSFT)’s Teams, in particular, may limit Slack’s progress.
“In our view, MSFT's competing Teams service significantly reduces WORK’s pricing power and limits the enterprise penetration opportunity,” wrote Mizuho's Moskowitz. “Further, we reiterate that MSFT considers Teams to be highly strategic, which means it is highly likely that MSFT will continue to invest substantially here for the foreseeable future.”
Wedbush agreed.
“We believe the company will have significant difficulty further penetrating the core enterprise market and MSFT installed base given the significant competitive offering from Microsoft's TEAMS product that could slow growth going forward quicker than the Street is anticipating, despite the COVID driven tailwinds,” wrote analyst Daniel Ives.
The Slack Ratings
Slack’s report generally seemed to inspire optimism.
“Like other cloud-based communications subsectors in software, we think this category is seeing a boost in terms of market awareness and willingness to spend, which bodes well both today and longer-term given the far-reaching nature of the underlying opportunity,” wrote Wells Fargo's Turrin.
Cantor Fitzgerald maintained an Overweight rating and raised its target from $30 to
Sold too soon but made good $`s now looking for a pullback. Monday could be the start of a small correction, we`ll see.
Cosa
Same plus waiting to add again if the chance arises. Have a look at the symbol WORK, could be another gainer going forward. I`m going to add if we get a selloff early Monday. GL
05/29/2020
Ping Identity initiated with an Overweight at Piper Sandler 06:15 PING Ping Identity $27.69 / +1.435 (+5.47%) Piper Sandler analyst Rob Owens initiated coverage of Ping Identity with an Overweight rating and $32 price target. The analyst sees identity "gaining in importance and wallet share" in the coming years as the cloud and virtual work continue to dissolve the network perimeter, and use-cases and identities expand beyond the workforce into customers. Ping's "best-in-breed" approach catering to large enterprises provides "ample runway" for growth into its $25B total addressable market, Owens tells investors in a research note.
Crappy news to come out late Fri. just as I added more shares.
Pfizer comes up empty in Ibrance breast cancer study
May 29, 2020 4:52 PM ET|About: Pfizer Inc. (PFE)|By: Douglas W. House, SA News Editor
Pfizer (NYSE:PFE) announces that, based on a futility analysis by the independent Data Monitoring Committee, a Phase 3 clinical trial, PALLAS, evaluating Ibrance (palbociclib) and adjuvant endocrine therapy in patients with HR+/HER2- breast cancer is unlikely to achieve the primary endpoint of a statistically significant effect on invasive disease-free survival compared to endocrine therapy alone.
No new safety signals were observed.
Study participants will be advised by their doctors on next steps. Long-term follow-up will continue as planned.
Complete results will be released at a later date.
The FDA approved the kinase inhibitor for women with HR+/HER2- breast cancer in February 2016 and men with HR+/HER2- breast cancer in April 2019.
Despite the setback, CEO Albert Bourla "remains confident" that the company can achieve its goal of at least a 6% compound annual growth rate through 2025.
Shares down 7% after hours.
https://seekingalpha.com/news/3578785-pfizer-comes-up-empty-in-ibrance-breast-cancer-study
Sitting on a Pile of Cash? Here is a Pure Play in the Permian Basin
https://www.livetradingnews.com/sitting-on-a-pile-of-cash-here-is-a-pure-play-in-the-permian-basin-175939.html
Parsley Energy price target raised to $13 from $11 at Mizuho 05/21 PE Mizuho analyst Paul Sankey raised the firm's price target on Parsley Energy to $13 from $11 and keeps a Buy rating on the shares. The analyst increased targets in the Exploration and Production space to reflect lower sustaining capital expectations, particularly for unconventional-levered operator
BioCryst to Present New Berotralstat Data at European Academy of Allergy and Clinical Immunology Digital Congress
http://ir.biocryst.com/news-releases/news-release-details/biocryst-present-new-berotralstat-data-european-academy-allergy
$25-$30 exit for me. GL
VTVT
Float 10.4M Shares
Outstanding 67.8M
Institutions Holding Shares 26
Held by Institutions 12.37%
Identity, digital management business is in ‘turbo boost,’ Ping Identity CEO says
Ping Identity CEO Andre Durand said there’s “no doubt” there will be a new norm in the workforce and explained how his company is supplying the adoption of remote work.
TUE, MAY 19 20207:54 PM EST
https://www.cnbc.com/video/2020/05/19/ping-identity-ceo-identity-digital-management-is-in-turbo-boost.html
Analyst Ratings
Find Analyst Ratings for:
Date Research Firm Action Current PT
5/19/20 SVB Leerink Maintains Outperform 27.0
2/03/20 Citigroup Reinstates Neutral 15.0
8/28/19 Goldman Sachs Initiates Coverage On Buy 20.0
8/19/19 SVB Leerink Initiates Coverage On Outperform 26.0
5/30/19 Citi Assumes Buy 25.0
4/12/19 Evercore ISI Group Initiates Coverage On Outperform
2/13/19 Barclays Upgrades Overweight 25.0
11/19/18 Citigroup Maintains Buy 42.0
10/26/18 Goldman Sachs Initiates Coverage On Neutral 25.0
9/13/18 JP Morgan Initiates Coverage On Overweight 39.0
How Will Oil Production Shut-Ins Impact Midstream?
Parsley Energy (NYSE:PE), which shut in 5-7 thousand barrels per day (MBpd) in March and April and guided to another 23 MBpd of curtailments in May, does not expect to incur any deficiency payments related to its transportation commitments, implying that the producer will meet any commitments to its midstream service providers. Additionally, the lack of government-mandated curtailments is an incremental positive for midstream.
https://seekingalpha.com/article/4348899-how-will-oil-production-shut-ins-impact-midstream
Parsley Energy, Inc. (PE)
Marathon Oil cut to Sell equivalent, Parsley upgraded at Morgan Stanley
May 19, 2020 11:31 AM ET|About: Marathon Oil Corporation (MRO)|By: Carl Surran, SA News Editor
Marathon Oil (MRO -2.8%) sinks after Morgan Stanley downgrades shares to Underweight from Equal Weight with a $5 price target, saying it is "unwarranted" for the stock to be trading in-line with peers given the company's "more challenged outlook."
Marathon "screens challenged vs. peers with a 2021 WTI breakeven of $37/bbl... and year-end 2021 leverage that rises to 4.5x at strip, above the peer median of ~2x," Stanley analyst Devin McDermott writes.
At the same time, McDermott upgrades Parsley Energy (PE -0.3%) to Overweight from Equal Weight, citing "peer-leading" free cash flow yield and well cost reductions.
The firm favors "producers with scale and/or asset bases to support resiliency at low prices and outsized free cash generation as commodity prices improve - those positioned to survive the downturn and thrive during the recovery" - including Chevron (CVX -1.7%) within integrated oils, and Hess (HES -3.5%), Noble Energy (NBL -5.3%), Cimarex Energy (XEC -1.9%) and Parsley among E&Ps.
MRO's average Wall Street analyst rating, Seeking Alpha Authors' Rating and Quant Rating all are Neutral.
PE's average Wall Street analyst rating and Seeking Alpha Authors' Rating are Bullish, while its Quant Rating is Neutral.
https://seekingalpha.com/news/3575976-marathon-oil-cut-to-sell-equivalent-parsley-upgraded-morgan-stanley
Dead no volume turned a nice $48,200.00 profit in 2 accounts today alone.
Look at a 6 month chart may be a double top today!
Regarding Sumitomo $MYOV Investor Rights Agreement-“will further include standstill provisions including a non-waivable condition requiring approval by a majority of the minority shareholders for any transaction that would cause Sumitomo...to hold beneficial ownership of Myovan of greater than 60%. Additionally for a standstill period of three years, any such transaction must also be made on a confidential basis to the independent directors and is subject to approval by a majority of the independent directors.” This explains why Sumitomo set up buying plan allowing them to get up to 60% ownership as cheaply as possible. The other 40% they realize will demand a fair deal to us minority shareholders.