That’s why the sector is a hunting ground for top stock predictions. Brush has suggested ASAN, AKAM and WDAY in his stock newsletter, Brush Up on Stocks.After an earnings slump in 2023, analysts expect technology stocks to see earnings growth in 2024. At the time of publication, he owned ASAN and AKAM. Michael Brush is a columnist for MarketWatch. The second quarter brought early renewals coupled and longer contracts, confirmations of customer “stickiness.” Switching costs offer a protective moat when the time it takes to implement and learn new software would hurt productivity too much. Morningstar’s Sharma says Workday has a wide moat around its business because of switching costs, another plus. The company was co-founded by Aneel Bhusri, who is now co-CEO. ![]() Workday is now the HCM platform for about half of the Fortune 500 companies, says Morningstar analyst Julie Bhusal Sharma. Workday provides financial management, human capital management (HCM), planning and analytics apps. Co-CEO Carl Eschenbach bought $2 million in shares at $236 to $241 at the end of August. Recently traded at a forward price-to-earnings ratio of 41.5, a significant discount to the five-year average of 73.8. ![]() Security-related sales grew 14.4% in the second quarter, offsetting declines in delivery revenue of 8.2%. Rather than just stand still, Akamai has pivoted to cybersecurity, in part via acquisitions. Akamai’s technology supported the internet-based video you’ve watched on YouTube, Netflix, Amazon, Apple products and Facebook.Īkamai’s problem is that in recent years a lot of its customers figured out they could do this job in house, at a lower cost. Leighton is a former MIT professor and tech visionary who figured out early in the internet revolution how to replicate and deliver content over a large network of distributed servers. Leighton has a good record for timing purchases.Īkamai is a tech company in transition. Since the turn of the year, founder and CEO Thomas Leighton has purchased $2.7 million worth of stock at prices between $72.40 and $93.80. It also has a PEG ratio of 2.1, below the cutoff of 2.5, which signals a discounted valuation for growth names in tech. Recently traded at a forward p/e of 16.8, a 9% discount to its trailing average of 18.5. The stock recently traded at a price to sales ratio of 4.8, versus its five-year average of 10.) Moskovitz has purchased $67.3 million worth of stock this year at prices between $19.80 and $24.40, most recently at the end of August.Ģ. ![]() As of the end of July, the company had 20,782 customers, up 15% from the year before. Asana offers a “Work Graph” that helps people get organized. Former Facebook manager Dustin Moskovitz is the company’s founder and CEO (founder-run is a plus in investing). Is a play on better workplace efficiency. Now, let’s look at three second-tier tech names that insiders like: It is not necessarily because they are negative on the shares. Tech insiders get paid in stock so when they sell, they are just collecting their pay. Let’s be clear, selling in tech names isn’t a negative. In contrast, there’s nothing but selling in the Magnificent Seven. In each of the second-tier tech names suggested below, insiders have been buying not too far below current prices. It just means they are not on everyone’s radar. This does not mean they’re lower quality. Second-tier tech namesįor tech exposure now, it makes more sense to consider what I call second-tier tech names. But now it’s time to look at tech-sector alternatives. have given investors tremendous rewards.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |