There Are Several Risks To Cloud And Software Stocks, But Microsoft Is Still Favorite, Analyst Asserts
Portfolio Pulse from Lekha Gupta
Piper Sandler analyst Brent A. Bracelin has lowered ratings and revised estimates for several Cloud Applications and Analytics stocks due to concerns about near-term demand stabilization trends and a potential slowdown in unique visitor growth. Despite these concerns, the analyst still favors Microsoft Corp and Procore Technologies Inc. Salesforce Inc, Unity Software Inc, Asana Inc, Alteryx Inc, and Matterport Inc have all seen their ratings and price targets lowered.
October 23, 2023 | 5:47 pm
News sentiment analysis
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NEGATIVE IMPACT
Asana Inc's rating has been lowered to Underweight from Neutral, with a reduced price target.
The downgrade in rating and reduction in price target could negatively impact investor confidence and potentially drive the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Alteryx Inc's rating has been lowered to Underweight from Neutral.
The downgrade in rating could negatively impact investor confidence and potentially drive the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Salesforce Inc's rating has been lowered to Neutral from Overweight, with a reduced price target.
The downgrade in rating and reduction in price target could negatively impact investor confidence and potentially drive the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Matterport Inc's rating has been lowered to Neutral from Overweight, with a reduced price target.
The downgrade in rating and reduction in price target could negatively impact investor confidence and potentially drive the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Unity Software Inc's rating has been lowered to Neutral from Overweight, with a reduced price target.
The downgrade in rating and reduction in price target could negatively impact investor confidence and potentially drive the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Microsoft Corp is still favored by the analyst despite concerns in the sector.
The analyst's continued favor of Microsoft despite sector-wide concerns could boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Procore Technologies Inc is also favored by the analyst.
The analyst's continued favor of Procore Technologies could boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70