4 Tech Stock Stories Ready for a Friday Scanning
Baidu Inc. (NASDAQ:BIDU): Closing price $135.67
In a research note on Friday, analyst Juan Linv at Wedge Partners wrote that Baidu’s entrance into mobile gaming via its purchase of app store 91 Wireless places it in a good spot as mobile Internet usage rises. Baidu, along with the China online travel major Ctrip.com International, could derive benefits from near-term improvements in China’s economy and growing mobile use, according to Linv, who believes that both mobile ad and app sales will help those firms. Last month, Baidu in completed its plans to purchase 91 Wireless a at price of $1.85 billion.
Facebook Inc. (NASDAQ:FB): Closing price $43.95
SunTrust has increased its estimates for Facebook, which is rated Buy, to consider its expected product launches which include video ads, Instagram monetization, and graph search. The firm thinks that revenues could rise by 10 percent by 2017 to roughly $2 billion.
Splunk Inc. (NASDAQ:SPLK): Closing price $56.34
On Friday, shares of the data analytics software provider soared to an all-time high of $57.75 after Canaccord Genuity began coverage with a Buy. Analyst Richard Davis wrote in the research report, “Splunk has developed market-leading tools” to help users mine Big Data, a term referring to the massive amounts of data being created in the ever-growing world of digital communications.
Analyzing Big Data with Splunk software can help companies better understand business trends and operations. “Industry analysts tag the addressable market for Splunk’s software at more than $30 billion and we estimate that this market is growing at least 20 percent.”
Salesforce.com Inc. (NYSE:CRM): Closing price $48.47
The world’s number-one CRM platform on Friday delivered Salesforce Files, permitting firms to connect any file to business. Salesforce Files is the sole enterprise file system that links any file seamlessly with marketing, sales, service, and other business processes from any device. Now, for the first time, customer companies may unlock files from third-party repositories and make them mobile and social, all on one, trusted platform.