Technology

BofA Securities Takes a Huge Gamble Adding Red-Hot Tech Giant to US 1 List Now

The company provides colocation services and related offerings, including operations space, storage space, cabinets and power for customers colocation needs; interconnection services, comprising physical cross connect/direct interconnections, Equinix Internet Exchange, Equinix Cloud Exchange, Equinix Metro Connect and Internet connectivity services; and managed IT infrastructure services, including installation of customer equipment and cabling, as well as equipment rebooting and power cycling, card swapping and emergency equipment replacement services.

Investors receive a 1.53% distribution. The BofA Securities target price is $865. The posted consensus price objective is $842.08, and Equinix stock closed at $697.55 a share on Monday.

Salesforce

This company blew away Wall Street recently with the announcement of its gigantic $27.7 billion purchase of Slack Technologies. Salesforce.com Inc. (NYSE: CRM) offers enterprise cloud computing applications and platform services, including Sales Cloud that enables companies to store data, monitor leads and progress, forecast opportunities, gain insights through relationship intelligence and collaborate around sales on desktop and mobile devices.

The company also provides Service Cloud, which enables companies to deliver personalized customer service and support, as well as connect their service agents with customers on various devices, and Marketing Cloud, which enables companies to plan, personalize and optimize customer interactions.


In addition, Salesforce announced last year it has completed its acquisition of Tableau Software, bringing together the world’s number one customer relationship management company with the world’s number one analytics platform. Salesforce aims to enhance its digital advertising value proposition (and its other existing product offerings) by expanding its data footprint to become the pioneer supplier of a consumer data platform for the corporate market.

The $280 BofA Securities price objective for the shares compares to the $275.33 consensus target price. Salesforce.com stock was last seen trading at $227.70 per share.


It comes as somewhat of a surprise that the BofA Securities team is adding Broadcom after it had such a massive run, but they are not the only ones on Wall Street reiterating Buy ratings and raising price targets in front of the upcoming earnings. It may make sense to just nibble at the shares come and buy partial positions now and see how the report comes in.

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