Wedbush Sees Upside For Tech Stocks, Expects Deal Frenzy to Start in Coming Months

It has become difficult for investors to assess companies amid uncertainty over the impact of the global coronavirus pandemic on the economy. In this volatile period, Wedbush Securities is seeing opportunities for companies in the technology, telecom and media sectors, and a “deal frenzy” taking off in coming months.Following conversations with insiders in the field, Wedbush analysts Daniel Ives and Strecker Backe, come back with some light on the horizon for companies focusing on cloud and remote technology, including Microsoft Corp (MSFT), Amazon Web Services (AWS), Zoom Video Communications (ZM), Citrix Systems (CTXS), and Slack Technologies. In addition, they say the shift to cyber technology is accelerating the need for security systems outside the firewall, which should go a long way to benefit Zscaler Inc (ZS) , CrowdStrike Holdings (CRWD), and CyberArk Software (CYBR) among others.Already in coming months, Wedbush analysts Ives and Backe, expect a resurgence of mergers & acquisitions as “valuations start to reach levels which can ignite a long overdue deal frenzy that could start to put a floor on the software sector as well.” (See TipRanks’ Stock Screener for technology names that could stand out at current levels)“Microsoft, Google (GOOGL), IBM (IBM), Adobe (ADBE), Salesforce (CRM), and Oracle (ORCL) are just a handful of the strategic players looking to beef up their cloud portfolios over the next year with fortress like treasure chests abound,” Ives and Backe said.Ives has an Outperform rating for Microsoft, Apple, Salesforce and Zscaler, and an Underperform rating for Slack Technologies. (See TipRanks’ Analysts’ Top Stocks)Related News: JP Morgan: These 3 Stocks Are Poised Surge by at Least 20% 5-Year Analyst Says Buy Uber Stock at Current LevelsWells Fargo Sees Compelling Value in Snap Stock More recent articles from Smarter Analyst: * Three Buying Opportunities Created by the Market Mayhem: Top Financial Blogger * 3 'Strong Buy' Cannabis Stocks That Look Compelling Right Now * Corporate Insiders Are Snapping Up These 3 Stocks * 3 Biotech Stocks Fighting the Coronavirus; Here's What to Expect Read More...

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Following conversations with insiders in the field, Wedbush analysts Daniel Ives and Strecker Backe, come back with some light on the horizon for companies focusing on cloud and remote technology, including Microsoft Corp (MSFT), Amazon Web Services (AWS), Zoom Video Communications (ZM), Citrix Systems (CTXS),  and Slack Technologies. In addition, they say the shift to cyber technology is accelerating the need for security systems outside the firewall, which should go a long way to benefit Zscaler Inc (ZS) , CrowdStrike Holdings (CRWD), and CyberArk Software (CYBR) among others.” data-reactid=”13″>Following conversations with insiders in the field, Wedbush analysts Daniel Ives and Strecker Backe, come back with some light on the horizon for companies focusing on cloud and remote technology, including Microsoft Corp (MSFT), Amazon Web Services (AWS), Zoom Video Communications (ZM), Citrix Systems (CTXS), and Slack Technologies. In addition, they say the shift to cyber technology is accelerating the need for security systems outside the firewall, which should go a long way to benefit Zscaler Inc (ZS) , CrowdStrike Holdings (CRWD), and CyberArk Software (CYBR) among others.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Already in coming months, Wedbush analysts Ives and Backe, expect a resurgence of mergers & acquisitions as “valuations start to reach levels which can ignite a long overdue deal frenzy that could start to put a floor on the software sector as well.” (See TipRanks’ Stock Screener for technology names that could stand out at current levels)” data-reactid=”14″>Already in coming months, Wedbush analysts Ives and Backe, expect a resurgence of mergers & acquisitions as “valuations start to reach levels which can ignite a long overdue deal frenzy that could start to put a floor on the software sector as well.” (See TipRanks’ Stock Screener for technology names that could stand out at current levels)

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="“Microsoft, Google (GOOGL), IBM (IBM), Adobe (ADBE), Salesforce (CRM), and Oracle (ORCL) are just a handful of the strategic players looking to beef up their cloud portfolios over the next year with fortress like treasure chests abound,” Ives and Backe said.” data-reactid=”15″>“Microsoft, Google (GOOGL), IBM (IBM), Adobe (ADBE), Salesforce (CRM), and Oracle (ORCL) are just a handful of the strategic players looking to beef up their cloud portfolios over the next year with fortress like treasure chests abound,” Ives and Backe said.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Ives has an Outperform rating for Microsoft, Apple, Salesforce and Zscaler, and an Underperform rating for Slack Technologies. (See TipRanks’ Analysts’ Top Stocks)” data-reactid=”16″>Ives has an Outperform rating for Microsoft, Apple, Salesforce and Zscaler, and an Underperform rating for Slack Technologies. (See TipRanks’ Analysts’ Top Stocks)