Zendesk (ZEN) has a strong niche in its core market and with plenty of room to grow, said a report from FBN Securities, which initiated coverage on the software company with an outperform rating and price target of 30. Zendesk stock was up about 1.3%, near 24, in afternoon trading in the stock market today. Zendesk provides a cloud-based customer service software platform. The company had its initial public offering in May 2014, raising $100
One of the world’s largest software developers not named Microsoft (MSFT) or Oracle (ORCL) — Germany-based SAP (SAP) — preannounced Q4 results late Monday that beat analyst sales estimates and some of the company’s own guidance. SAP stock jumped as much as 3.1% in early trading in the stock market today and nearly surpassed an 18-month high of 81.21 touched on Dec. 29. In early afternoon trading, though, SAP stock had trimmed the gain to a little
Texas Instruments (TXN) and Avago Technologies (AVGO) became Apple ‘s (AAPL) latest victims Tuesday, as Wall Street slashed the chip suppliers’ earnings estimates on presumed iPhone shipment weakness. Canaccord Genuity analyst T. Michael Walkley and RBC Capital analyst Amit Daryanani also lowered their views on iPhone shipments for 2016 and the March quarter, respectively. Walkley sees 219 million units in 2016, vs. his earlier call for 231