Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Veritone Inc (VERI), GoDaddy (GDDY) and Tableau (DATA).
Veritone Inc (VERI)
Roth Capital analyst Darren Aftahi maintained a Buy rating on Veritone Inc today and set a price target of $15.50. The company’s shares closed yesterday at $5.97, close to its 52-week low of $3.65.
Aftahi wrote:
“We look for 1Q19 sales to be in-line with estimates when VERI reports AMC on 5/8, suggesting ~6% q/q revenue and ~25% q/q SaaS growth. We look for further updates on traction with its Attribution product, law enforcement vertical, and government vertical (now with FedRAMP authorization). The combination of continued topline AI progress, coupled with improving EBITDAS (and cash burn), remain keys to share appreciation in our view. Positive takeaways from VERIs Investor Day lead us to believe increased investment may be necessary given continued traction across verticals and products. We have updated the cost side of our model as we believe that new products like “Flow”, Apps portfolio and encouraging FedRAMP traction are likely to result in slightly higher operating expenses than originally expected.”
According to TipRanks.com, Aftahi is a 5-star analyst with an average return of 14.2% and a 54.0% success rate. Aftahi covers the Technology sector, focusing on stocks such as Digital Turbine Inc, The Meet Group Inc, and Mitek Systems Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Veritone Inc with a $14.38 average price target.
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GoDaddy (GDDY)
In a report released today, Jason Helfstein from Oppenheimer maintained a Buy rating on GoDaddy, with a price target of $87. The company’s shares closed yesterday at $81.23, close to its 52-week high of $84.97.
Helfstein commented:
“We are maintaining our $87 price target on consistent 1H organic bookings growth and expectations for 2H19 operating leverage. While 1Q was higher than expected, on acquisition-related expenses, the model should normalize in 2H. 1Q gross bookings and revenue faced tougher comps in Business Applications and FX headwinds, yet was +14% y/y ex. FX vs. +13% in 4Q. The shift to domestic marketing and Sellbrite acquisition should help accelerate Bus Apps in 2H. 2Q revenue outlook consistent with Street expectations and a credit rating upgrade reduces 2019 cash interest payments by $10M. Remain constructive on increased marketing efficiency from the new CMO and monetizing Sellbrite by driving unit adoption.”
According to TipRanks.com, Helfstein is a top 100 analyst with an average return of 19.8% and a 67.8% success rate. Helfstein covers the Technology sector, focusing on stocks such as Endurance International, ANGI Homeservices Inc, and Spotify Technology SA.
Currently, the analyst consensus on GoDaddy is a Strong Buy with an average price target of $88, an 8.3% upside from current levels. In a report issued on April 29, SunTrust Robinson also assigned a Buy rating to the stock with a $89 price target.
Tableau (DATA)
Maxim Group analyst Nehal Chokshi maintained a Hold rating on Tableau today. The company’s shares closed yesterday at $120.26.
Chokshi noted:
“Net new subscription ARR for Mar Q impresses, though the provided color implies results were largely driven by uptake of the low ARPU Viewer SKU. Jun Q guidance weak relative to consensus; raised full-year guidance implies net new subscription ARR growth will accelerate in 2H19. Stock buybacks effectively cease, likely a negative signal. Maintaining Hold rating.”
According to TipRanks.com, Chokshi is a 5-star analyst with an average return of 9.5% and a 58.0% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Tableau with a $139.56 average price target, a 16.0% upside from current levels. In a report issued on April 23, BMO Capital also maintained a Hold rating on the stock with a $140 price target.
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