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Today's Most Important Initiations

Stock Markets Oct 05, 2022 04:46PM ET
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AKAM
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ETSY
+2.14%
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ZI
+3.07%
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By Davit Kirakosyan

Guggenheim assumed coverage on Etsy (NASDAQ:ETSY) with a Buy rating and a $125 price target (vs. prior $110). According to the analysts, the implied CAGR remains well-above management's historical target range of 16-20%, noting that the latest data implies a low-to-mid single-digit year-over-year decline, better than the management-implied mid-to-high-single-digit decline.

JPMorgan resumed coverage on Akamai Technologies (NASDAQ:AKAM) with an Underweight rating and a price target of $75.00. The analysts believe exposure to saturated/commoditized end markets with intense price pressure from aggressive competitors will offset the legitimate growth markets, creating headwinds to organically reach the growth targets of approximately 10%.

Morgan Stanley assumed coverage on ZoomInfo Technologies Inc (NASDAQ:ZI) with an Overweight rating and a price target of $66.00. The analysts believe investor debate now shifts to the durability of the company's growth and levers to expand beyond core data assets, following the pandemic-driven shift to improve B2B sales with digital tools. “Portfolio expansion increases ACV and retention, while valuation underestimates best-in-class profitability,” added the analysts.

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Today's Most Important Initiations
 

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