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☆ Baird: Adobe's report is proof it's all about expectations
  + stars: | 2024-06-14 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBaird: Adobe's report is proof it's all about expectationsBaird senior software analyst Rob Oliver discusses Adobe's Q2 results and whether AI demand will continue to push revenue forward in the coming months.
Persons: Baird, Rob Oliver
☆ Baird says this software stock is a resilient revenue grower well positioned for a tough macro
  + stars: | 2023-04-04 | by ( Samantha Subin | ) www.cnbc.com   time to read: +1 min
The ongoing need for efficiency should create a favorable setup for shares of ServiceNow despite a tough macro climate, according to Baird. Analyst Rob Oliver upgraded the software stock to outperform, saying in a Tuesday note to clients that its end-market resiliency and reasonable valuation create an attractive risk-reward balance. NOW YTD mountain ServiceNow shares in 2023 ServiceNow shares had a difficult 2022, tumbling 40.2% as rising rates dealt a heavy blow to many tech valuations. Oliver upped his price target on shares to $548 to $475, saying that the valuation appears reasonable given ServiceNow's sizeable total addressable market, solid competitive positioning and above-average growth potential. "We believe ongoing strong execution and combination of 20% + revenue growth and operating/FCF margin expansion could help drive multiple expansion over time," Oliver wrote.
☆ Jim Cramer's top 10 things to watch in the stock market Tuesday: ServiceNow bump, Dimon speaks, DHR cut
  + stars: | 2023-04-04 | by ( Jim Cramer | ) www.cnbc.com   time to read: +3 min
Baird upgrades software stock ServiceNow (NOW) to buy from hold, with a price target of $548, up from $475. Raises price target to $140 from $135. Barclays turns on life science tools and diagnostics sector, drops price target for Club favorite Danaher (DHR) to $270 from $290 and expects a "relatively light" first-quarter guide. Norfolk Southern (NSC) upgraded to hold from sell at Morgan Stanley with unchanged price target of $171. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
☆ Baird downgrades Salesforce, says leadership changes and companies cutting jobs will hurt the stock
  + stars: | 2022-12-08 | by ( Alex Harring | ) www.cnbc.com   time to read: +2 min
Salesforce could struggle with new leadership in a macro environment that's more difficult to traverse, according to Baird. Analyst Rob Oliver downgraded the stock to neutral from outperform and slashed his target to $150 from $200. "We believe the combination of macro headwinds and seat-based software pressure (driven by recent workforce cuts/hiring slowdown) could pressure revenue growth near term," Oliver said in a note to clients. Salesforce also stands to gain from increased interest in cloud marketing, he said, through acquisitions of Radian6, BuddyMedia and DemandWare. Increased competition through public cloud companies are emerging vendors in more specialized offerings could also hurt the stock.
☆ Baird: The downturn in the software sector has evolved from being centered around rising rates to a question about demand
  + stars: | 2022-11-07 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBaird: The downturn in the software sector has evolved from being centered around rising rates to a question about demandRob Oliver, senior analyst at Baird, discusses the slump in the "Software as a Service" or cloud sector as customers are cutting back on spending amid growing worries about a recession.
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