Canaccord Genuity Near-Term Outlook for Software Stocks: Start Accumulating SQI, NUAN; Inch Into CRM, DWRE...
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Price: $34.05 -0.53%
Rating Summary:
18 Buy, 10 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
18 Buy, 10 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade ORCL Now!
Canaccord Genuity Near-Term Outlook for Software Stocks
Analyst, Richard Davis, said, "Investor psychology is becoming decidedly negative and the momentum in this direction will be hard to reverse until there is some resolution of Europe’s fiscal disaster, we understand how much China is slowing, and who is likely to win the November election (there is a nearly zero chance that Congress will do anything on the budget front until after the election)."
"We believe there is a good chance of a relief rally in late June because firms like
Oracle (Nasdaq: ORCL) are likely to post better than feared quarters. Whether this possible rally is just a temporary reprieve from a downward grind or a real bottom will depend on the preceding paragraph."
"In the interim, the two stocks that we would buy today are SciQuest (NYSE: SQI) and Nuance (Nasdaq: NUAN). We would also at least begin to inch into Salesforce.com (NYSE: CRM), Demandware (Nasdaq: DWRE), AspenTech (Nasdaq: AZPN) and Autodesk (Nasdaq: ADSK) on weakness."
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Analyst, Richard Davis, said, "Investor psychology is becoming decidedly negative and the momentum in this direction will be hard to reverse until there is some resolution of Europe’s fiscal disaster, we understand how much China is slowing, and who is likely to win the November election (there is a nearly zero chance that Congress will do anything on the budget front until after the election)."
"We believe there is a good chance of a relief rally in late June because firms like
Oracle (Nasdaq: ORCL) are likely to post better than feared quarters. Whether this possible rally is just a temporary reprieve from a downward grind or a real bottom will depend on the preceding paragraph."
"In the interim, the two stocks that we would buy today are SciQuest (NYSE: SQI) and Nuance (Nasdaq: NUAN). We would also at least begin to inch into Salesforce.com (NYSE: CRM), Demandware (Nasdaq: DWRE), AspenTech (Nasdaq: AZPN) and Autodesk (Nasdaq: ADSK) on weakness."
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